creating patient centric innovation - stanford med x 2015.pptx
TRANSCRIPT
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Championing Patient-Centric Innovation
Julie WheelanVice President, Edison Nation Medical
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Necessity…the mother of
invention.
Plato
@JulieWheelan, @enmedical Copyright 2015
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@JulieWheelan, @enmedical Copyright 2015
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Medical device industry• The United States is the largest medical device market in the world
with a market size of around $110 billion
• It is expected to reach $133 billion by 2016
• U.S. market value represented ~38% of the global medical device market in 2012
• U.S. exports of medical devices exceeded $44 billion in 2012, a >7 percent increase from prior year
• There are >6,500 medical device companies in the U.S.
• >80 percent of medical device companies have fewer than 50 employees, and many have little or no sales revenue (notably innovative start-up companies)
@JulieWheelan, @enmedical Copyright 2015
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But some critical constituents have (historically) had no real voice in shaping
medical device innovationno real voice in shaping medical
device innovation
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Patients
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Physicians
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Nurses & Clinicians
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And yet…The individuals living with or treating a particular health issue every day are often best positioned to identify pain points and resulting solutions for improving care.
They have the insights and the expertise. They live the discontent.
@JulieWheelan, @enmedical Copyright 2015
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These individuals are the heart and soul of true “patient-centric”
innovation.
@JulieWheelan, @enmedical Copyright 2015
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Some Stats
Source: Chatterji, Fabrizio, Mitchell, and Schulman, 2008@JulieWheelan, @enmedical Copyright 2015
• Physicians account for almost 20% of approx. 26,000 medical device patents filed in the US from 1990-1996
• Physician patents had more influence on subsequent inventive activity than nonphysician patents during this study period
• Almost 60% of physician-inventors worked in a group practice, 2-physician practice or solo practice (so well beyond traditional research settings)
• Physicians from seven specialties generated >50% of the med device patents during this time. Orthopedic surgeons, general surgeons and cardiologists made up the largest share, followed by anesthesiologists, internists, ophthalmologists, and diagnostic radiologists.
• On a daily basis, every nurse around the globe is creating or using “workarounds”
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@JulieWheelan, @enmedical Copyright 2015
Endless possibilities!
+
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Developing a commercially viable medical device is
complex.
@JulieWheelan, @enmedical Copyright 2015
Only a small fraction of ideas generated
by clinicians or patients will ever reach the level of
patient care without support.
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Individual inventor often lack:1. Expertise in product development, intellectual property,
and business management
2. Funding
3. Industry connections
4. Risk-appetite, and
5. Time
…..All of which are critical for bringing ideas to life.
@JulieWheelan, @enmedical Copyright 2015
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@JulieWheelan, @enmedical Copyright 2015
Healthcare organizations are challenged to support innovation
1. Lack appropriate resources and expertise to capture, evaluate and commercialize idea submissions from constituents
2. Sheer volume of employee and customer ideas can be overwhelming to even the most sophisticated organizations
3. Inventor relations issues can be tricky and highly political
4. Need to focus on business and patient care at a time when healthcare is changing rapidly
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So how do we cultivate more patient-centric
innovation?
@JulieWheelan, @enmedical Copyright 2015
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2. Inspire & Educate
3. CTA to Submit an
Idea
4. Confidential Format for Collecting
Ideas
5. Professional Evaluation
& Validation of Ideas
6. “Polish” Inventions
7. Commercialize
Top Ideas
8. Celebrate Success!
Innovation Lifecycle
1. Outreach to Innovators to Participate
@JulieWheelan, @enmedical Copyright 2015
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“I have a great idea that I’m confident millions of people
need.”
Separating Fact from Fable
@JulieWheelan, @enmedical Copyright 2015
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@JulieWheelan, @enmedical Copyright 2015
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“A patent is my ticket to success.”
Separating Fact from Fable
@JulieWheelan, @enmedical Copyright 2015
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Separating Fact from Fable
@JulieWheelan, @enmedical Copyright 2015
“There are around 1.5 million patents in effect and in force in this country, and of
those, maybe 3,000 are commercially viable.”
Richard Maulsby, director of the Office of Public Affairs for
the U.S. Patent & Trademark Office (Business Week, 2005).
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From sketch to industrial design
From industrial design to prototype
From prototype to market ready product
@JulieWheelan, @enmedical Copyright 2015
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“Once I have a patent, I’m free to market my invention.”
Separating Fact from Fable
@JulieWheelan, @enmedical Copyright 2015
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“My invention isn’t sophisticated enough to
merit a patent.”
Separating Fact from Fable
@JulieWheelan, @enmedical Copyright 2015
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Limits the distance the plunger can be pulled back
Which reduces accidental medication overdose
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“I don’t want to partner with or license my idea to
someone else.
Why should someone else make money off my idea.”
Separating Fact from Fable
@JulieWheelan, @enmedical Copyright 2015
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“It’s mine, all mine!”
Separating Fact from Fable
@JulieWheelan, @enmedical Copyright 2015
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“There’s nothing like my invention on the market.”
Separating Fact from Fable
@JulieWheelan, @enmedical Copyright 2015
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“If I deal with a large company, they will steal my
invention.”
Separating Fact from Fable
@JulieWheelan, @enmedical Copyright 2015
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“I need to gather more input on my idea before I patent it.”
Separating Fact from Fable
@JulieWheelan, @enmedical Copyright 2015
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@JulieWheelan, Copyright 2015
Patient-centric innovation happens when those at
the front lines of receiving and giving care have a
voice.