Innovation Lifecycle Management: Policy Flexibilities

Wearable technology, robotics, genomics, artificial intelligence, fused deposition modelling (fdm), smartphone apps, and other new technologies are emerging into health systems at an increasing rate, posing complex policy challenges “for all health stakeholders, including decision makers, regulatory bodies, payers, healthcare professionals, and caregivers,” states a recently published OECD report. These current trends for funding, developing, and bringing new innovative approaches to market is increasingly making today’s healthcare systems highly exploitative and unsustainable. It is critical to create a comprehensive policy framework that unifies the widely divergent goals of health and innovation policies in order to better align the supply of innovation with the demand of hospital systems. The work of political authorities who influence these supply of health innovations, such as health research funding agencies, public VCs, technology transfer offices, and incubators, require a clear understanding of a policy-oriented approach that is built recursively by combining inductive reasoning and deductive research strategies.