Press Release Financing of Medical Technology

MedTech Europe compares Funding Mechanisms for Innovation across Europe

Paris, 16 May 2019 – MedTech Europe completed a commissioned project classifying existing mechanisms in Europe that fund medical technology innovation. The project ‘Taxonomy of Value-Based Access Programmes (VBAPs) / Funding for Innovation’ looks at 23 European countries and explores the benefits of such programmes in facilitating the uptake of innovation into the healthcare systems.

Posted on 16.05.2019

The initiative provides an overview of how countries foster innovation at the time of initial access. The project maps out, groups and analyses the different ongoing funding initiatives developed by payers for medical technologies in Europe. These initiatives fall under the umbrella of Value-Based Access Programmes for funding innovation.

“We believe that more and more payers now see well designed Value-Based Access Programmes as a helpful tool to introduce innovation. They can support payers in overcoming the uncertainties they face when novel technologies are first introduced into the system”, stated Yves Verboven, Director Market Access and Economic Policies at MedTech Europe.

The project classifies the existing innovation funding mechanisms according to the uncertainties of clinical and economic outcomes that they address. VBAPs tackle these uncertainties by allowing initial funding of the technology, while the collection of evidence on its daily use is still in process. This acts as a bridge to their future inclusion in reimbursement systems.

The results of the project can benefit payers, patients and industry on different levels. First, they can guide the development of effective funding streams with clear and predictable processes. Second, they can facilitate valuable investment in innovation early in the lifecycle for the benefit of patients and healthcare systems. Finally, this could provide in particular for SMEs a means to get through the ‘death valley of innovation’.

For more information, find here the project summary. A brochure with the more detailed report on the results will be available soon.

Contact

For more information, please contact MedTech Europe’s Senior Communications Manager Jerick Parrone.

About MedTech Europe

MedTech Europe is the European trade association for the medical technology industry including diagnostics, medical devices and digital health. Our members are national, European and multinational companies as well as a network of national medical technology associations who research, develop, manufacture, distribute and supply health-related technologies, services and solutions.

For more information, visit www.medtecheurope.org.