Many U.S. Residents Say Medical Innovation Key to Economic Growth

A majority of U.S. residents think the federal government should invest more in medical innovation to improve the nation’s quality of life and provide for employment and economic growth, according to a survey from the Council for American Medical Innovation, Modern Healthcare reports (Zigmond, Modern Healthcare, 1/12).

Medical innovation usually is aligned with the use of IT, according to Healthcare IT News (Monegain, Healthcare IT News, 1/13).

The telephone survey polled 1,009 U.S. residents ages 18 and older from Jan. 6 through Jan. 10 (Modern Healthcare, 1/12).

Key Findings

According to the results, 58% of respondents said the government should spend more on innovation, while 72% said failure to do so would hinder future development and economic growth (Smith, “Tech Daily Dose,” National Journal, 1/12).

In addition, the survey found that:

• 81% of respondents support establishing public-private partnerships to make the most of medical innovation research and development (Healthcare IT News, 1/13);
• Almost 80% support the allocation of R&D tax credits (“Tech Daily Dose,” National Journal, 1/12);
• 79% support providing incentives to encourage exports of U.S.-based medical technology; and
• 78% support federal reforms to accelerate the process of bringing new innovations to market and to reduce costs (Healthcare IT News, 1/13).

Former House Majority Leader Dick Gephardt (D-Mo.) — co-chair of CAMI — said, “My perception is that we are falling way behind in medical innovation,” adding that advancements will help create jobs and incite economic growth (Modern Healthcare, 1/12).

Source: iHealthBeat