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The Value of Innovation

The Value of Innovation

Innovation is, by definition, unpredictable. What used to be a good scenario for a science-fiction movie, is becoming a reality. And previously fatal illnesses have become treatable, allowing people to live longer and be healthier. Current regulatory tools show some limitations in predicting the development of innovation and its accurate definition. It is very likely that such tools should not be put in place at all, not to constrain the creativity and willingness to go beyond what’s known. Health innovation represents an important component of public health and is a game changer when supported by an accurate regulatory framework.

The Committee on Innovation & Value of the European Health Parliament aims to ensure that health innovation is valuable and measured through the lens of its ultimate recipients – the patients. Committee members, young and ambitious professionals, have set their goal and it is to influence the policies which ultimately concern everyone. As far as innovation is concerned, we acknowledge that the future is happening now, and immediate action needs to be taken to accommodate its challenges.

Committee members have so far conducted a series of interviews with external experts coming from different backgrounds – international organisations, patient associations, industry representatives, HTA bodies, and national governments. During these interviews, it was unveiled that there is a growing consensus among stakeholders that existing policies must undergo adaptation to novelties in healthcare to strike the balance between stimulating true innovation and ensuring financial sustainability and accessibility to patients. Which is why we want to put the value for patients in the heart of our policy recommendations, making it an overarching component of the European Health Parliament’s work.

The value for the patient should be reflected and ensured through all stages of innovation – from research and development, clinical trials, assessment, authorisation, and post-evaluation. Within our policy recommendations, we would like to reflect on three key stages where the value for patients and patient’s voice could be improved, and where the European Union (EU) could play an important role in driving new, harmonised approaches across all EU member states. These three stages are investment, assessment, and continuity.

In the area of investment, we are looking at options to improve current regulatory frameworks to steer the innovation in the right direction from the perspective of patients. In assessment, we aim to echo active patient involvement in health technology assessment processes, whilst considering the potential of digital health – how we can ensure that eHealth innovations are truly valuable for patients. Finally, in the continuity part, we would like to address the problem of innovation uptake and its ultimate access to patients.

 

We would like to hear from you!

Are you interested to hear more about our initiative? Would you like to share with us your thoughts on how to improve the regulatory framework to accommodate incoming health innovation?

Contact us on:

Committee on Innovation & Value EHP

innovation@healthparliament.eu

 

 

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