The Economics of Medical Technology

Overview

Medical technology broadly defined to include all aspects of the process of treating disease (e.g., pharmaceuticals, medical devices, and surgical procedures) is profoundly important for individual health and, consequently, also for general welfare. Advance in medical technology convey the prospect of both improved population health and increased general welfare. However, because of the extensive regulation of the markets for healthcare goods and services, the development and application of medical technologies ...

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Overview

Medical technology broadly defined to include all aspects of the process of treating disease (e.g., pharmaceuticals, medical devices, and surgical procedures) is profoundly important for individual health and, consequently, also for general welfare. Advance in medical technology convey the prospect of both improved population health and increased general welfare. However, because of the extensive regulation of the markets for healthcare goods and services, the development and application of medical technologies differ fundamentally from non-medical technological advances. In this volume of the Advances in Health Economics and Health Services Research series, we present several papers that provided theoretical and empirical evidence about the market for medical technology.

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Product Details

Table of Contents

List of Contributors vii

Overview ix

Aspects of Research and Development Contract Terms in the Bio/Pharmaceutical Sector Tannista Banerjee 1

Effects of Regulation on Drug Launch and Pricing in Interdependent Markets Patricia M. Damon Andrew J. Epstein 35

The Effect of Pharmaceutical Innovation on the Functional Limitations of Elderly Americans: Evidence from the 2004 National Nursing Home Survey Frank R. Lichtenberg 73

Comparative Effectiveness Research, Technological Abandonment, and Health Care Spending David H. Howard Yu-Chu Shen 103

How do Initial Signals of Quality Influence the Diffusion of New Medical Products? The Case of New Cancer Drug Treatments Rena M. Conti Arielle Bernstein David O. Meltzer 123

Technology Diffusion and Substitution of Medical Innovations Victoria Serra-Sastre Alistair McGuire 149

Health Insurance and Hospital Technology Adoption Seth Freedman 177

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