Navigation Links
Physician entrepreneurs are key contributors to new medical devices
Date:4/16/2013

Philadelphia, Pa. (April 16, 2013) - Startup companies founded by physician entrepreneurs are an important source of patents used in developing innovative new medical devices, suggests a study in the May issue of Medical Care. The journal is published by Lippincott Williams & Wilkins, a part of Wolters Kluwer Health.

"Device manufacturers gain more from the patents of physician-founded firms than from those of non-physician-founded firms in their subsequent invention and innovation efforts," according to the study by Sheryl Winston Smith, PhD, and Andrew Sfekas, PhD, of the Fox School of Business at Temple University, Philadelphia. They raise concern that too-strict policies on financial relationships with physicians could hinder innovation in the medical device industry.

Doctors Make Key Contributions to New Medical Devices

The researchers analyzed a total 170 premarket approval applications (PMAs) filed by four major medical device companies between 1978 and 2007. The study also included data on patent applications from 119 startup companiesall of which had received investment dollars from the medical device industry. All four device makers had active corporate venture capital programs during the study period.

Using a sophisticated text-matching algorithm, Drs Smith and Sfekas assessed the information contributed by physician-founded startup companies versus non-physician-founded startups. The study focused on class III medical devices: the highest-risk classification, requiring significant testing to prove device safety and effectiveness.

The two groups of startups produced roughly the same number of patents. However, patents from physician-founded startup companies were cited more heavily in the PMAs, compared to those from non-physician-startups. "On average physician-founded companies account for eleven percent of the information in PMAs, compared to four percent from non-physician-founded companies," Drs Smith and Sfekas write.

Two-thirds of PMAs overlapped by at least ten percent with patents from physician-founded startups, compared to about one-fourth with patents from non-physician startups. Of PMAs with at least twenty percent information from external sources, about 80 percent included information from physician-founded startups versus 40 percent from non-physician-funded startups.

Could New Rules Hinder Device Innovation?

Facing intense pressure for constant innovation, the medical device industry relies on corporate venture capital as a source of new ideas and patents. By assessing information overlap between PMAs and patents, the study algorithm helps in identifying which patents are more versus less important in developing successful new products. The results suggest that startup companies founded by physician entrepreneurs make uniquely important contributions to the development of new medical devices.

Historically, physicians have played a central role in the development process. Various types of financial relationships between physicians and medical device manufacturers are common, but are increasingly subject to policies regarding disclosure of potential conflicts of interest. These include the "sunshine provisions" of the Patient Protection and Affordable Care Act, under which drug and medical device manufacturers are required to report any financial relationships they have with physicians.

The new findings raise concerns that, if conflict of interest rules are too tight, they could have the unintended effect of slowing the pace of new advances in the medical device industry. Drs Smith and Sfekas write, "[R]estrictions on financial relationships between providers and industry, while potentially improving patients' trust, may result in reduced medical innovation if physicians found fewer startups or if incumbent firms reduce investments in physician-founded startups."


'/>"/>

Contact: Connie Hughes
connie.hughes@wolterskluwer.com
646-674-6348
Wolters Kluwer Health
Source:Eurekalert

Related medicine news :

1. American College of Physicians unveils tools to improve acute coronary syndrome care
2. Physician-Assisted Suicide Program Rarely Used, Study Finds
3. American College of Physicians releases ACP Clinical Guidelines app
4. Neurological Wellness Center Physicians Group Asks CBS to Air the 60-Minute Show “A New Shot at Life” in the United States
5. Medigistics Celebrates 52 Years Assisting Physicians
6. Physicians applaud Sen. Reids proposal to reduce firearms injuries
7. Olive Fertility Centre Physician Recognized for Excellence
8. Live Continuing Medical Education Conference Hosted by Continuing Education Company Inc. Presents "What's Your Definition of Hypertension?" for Primary Care Physicians
9. Corporate Whistle Blower Center Now Urges All Physicians or Medical Device-Drug Maker Insiders to Cash In If They Have Proof A Company Knowingly Sold Bad Drugs Or Devices
10. St Louis Fetal Care Institute's Fetal Surgeons to Visit Chicago Area Physicians
11. Live Continuing Medical Education Conference hosted by Continuing Education Company presents Important Orthopedic Updates for Primary Care Physicians
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/27/2016)... ... 2016 , ... A revolution is underway. Brooklyn-based company, ... for the millions of people who require these medical transport services annually. ... the use of technology. Now, SmartEMS has put forth an industry-changing app that ...
(Date:6/26/2016)... ... June 26, 2016 , ... On June 10-11, 2016, A Forever Recovery, a ... and World’s Longest Breakfast Table in Battle Creek, MI, where the rehabilitation facility is ... to some of the world’s leading providers of cereal and other breakfast foods. Its ...
(Date:6/26/2016)... ... ... Kasmer, a legally blind and certified personal trainer is helping to develop a weight loss ... plans to fix the two major problems leading the fitness industry today:, ... , They don’t eliminate all the reasons people quit their exercise program ...
(Date:6/25/2016)... ... 2016 , ... Austin residents seeking Mohs surgery services, can now turn to ... Dr. Russell Peckham for medical and surgical dermatology. , Dr. Dorsey brings specialization to ... fellowship in Mohs Micrographic Surgery completed by Dr. Dorsey was under the direction of ...
(Date:6/25/2016)... (PRWEB) , ... June 25, 2016 , ... First ... United States, named Dr. Sesan Ogunleye, as the Medical Director of its new Mesquite-Samuell ... facility Medical Director of our new Mesquite location,” said Dr. James M. Muzzarelli, Executive ...
Breaking Medicine News(10 mins):
(Date:6/24/2016)... CAMBRIDGE, Mass. , June 24, 2016 /PRNewswire/ ... the Spaulding Rehabilitation Network,s Dean Center for ... of Physical Medicine and Rehabilitation, MIT Hacking Medicine, ... Center for Innovation, today announced the five finalists ... Hackathon for Lyme disease.  More than 100 scientists, ...
(Date:6/24/2016)... , June 24, 2016 The Academy of ... recommendations that would allow biopharmaceutical companies to ... entities that make formulary and coverage decisions, a move ... of new medicines. The recommendations address restrictions ... appear on the drug label, a prohibition that hinders ...
(Date:6/24/2016)... 24, 2016 Research and Markets has ... Companion Diagnostic Tests" report to their offering. ... Diagnostics The World Market for Companion Diagnostics ... diagnostics. Market analysis in the report includes the following: ... Vitro Diagnostic Kits) by Region (N. America, EU, ROW), 2015-2020 ...
Breaking Medicine Technology: