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Recent Conferences

April 30, 2008

Health Care Innovation in the 21st Century: Incentives for Greater Value in an Era of Constrained Resources

Innovation is a core concept of the American economy, driving a continual stream of products, processes, and services of higher quality and lower cost than those that they replace. Innovative medical technologies provide important economic and patient benefits but have also been a major driver of health spending. Purchasers often have difficulty quantifying the value of new medical technologies and incremental innovations may come with substantial price premiums. In contrast, innovation in health care service delivery has been sluggish, allowing inefficiencies and quality problems to persist. Regulatory barriers and market failure including moral hazard and information asymmetry hinder innovation that could improve quality and lower costs. The growing health care affordability crisis will put financial pressure on developers and providers of health care services. This workgroup meeting will focus on developing options for driving health care innovation that generates both commercial and societial value in an era of contrained resources.