Video: “How do we balance supply and demand of health innovations?”
At the 25th annual Canadian Agency for Drugs and Technologies in Health (CADTH) Symposium, Dr. Zayna Khayat, the Senior Advisor on Health System Innovation at MaRS Discovery District and Program Director of MaRS EXCITE participated in the opening plenary session to discuss the realities of health care decision-making.
During the session Dr. Tammy Clifford, the Chief Scientist at CADTH, asked Zayna for her view on how to balance supply and demand of health innovations.
Listen to Zayna’s full below>
Zayna talked about three ways to balance supply and demand:
1. Create a pull model for innovation. The health system should invest in early stage research and development to address future needs. As an example, The US Department of Defense continually invests in research in the areas of wound care and mobile power to help their front line soldiers. The EXCITE program is a way for the health system to derisk potential breakthrough technologies and match them with unmet needs.
2. Shift the focus from device innovation to solutions. To add value to the system, we need to think about how the entire process of care around the technology will change.
3. Pay for outcomes. Ontario could be the first place to create a social impact bond for health that rewards investors when the interventions that they have funded achieve a specific outcome (e.g., when the patient’s health improves or when operating room costs go down).