MedTech Europe compares Funding Mechanisms for Innovation across Europe
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.