Investing in New Technology in Pulmonary Medicine–Navigating the Tortuous Path to Success.

Publication/Presentation Date

2017

Abstract

The introduction of new technologies offer the promise to advance medicine. This occurs alongside improved efforts to control costs of healthcare by hospital administrators, Center for Medicare and Medicaid Services’ (CMS) pivot to value programs, and commercial payers’ efforts to reduce reimbursement. These trends present a challenge for the pulmonologist, among others, who must navigate increasingly complex and highly scrutinized evaluation processes used to secure new technologies.

Healthcare providers are turning toward value assessments, while simultaneously tasked with a mission of offering state-of-the art technologies and services. Pulmonologists desiring new technologies are thus faced with increased scrutiny in their evaluation of costs and clinical data to support investments. Consideration of this scrutiny and further evidence to temper the evaluation will improve the likelihood of adoption and patient access to clinically-impactful technology. The identification of this evidence may provide – to both administrators and pulmonary clinicians – a comprehensive view of the clinical and economic benefits of such technologies. It is imperative that all parties involved in the decision process work collaboratively to deploy value-added and clinically-impactful technologies.

While a physician group might invest in such new technologies, the capital required often leads such decisions to a larger organization such as a hospital, healthcare system, or privately owned entity. This article aims to provide a framework for pulmonary clinicians to better understand the processes that purchasers use to evaluate new technologies, the pressures that influence their consideration, and what resources may be leveraged towards success.

Volume

152

Issue

3

First Page

663

Last Page

671

Disciplines

Medical Sciences | Medicine and Health Sciences

PubMedID

28642108

Department(s)

Department of Medicine, Department of Medicine Faculty

Document Type

Article

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