International Journal on Science and Technology

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Early-Stage Medical Technology Assessment Integrating Health Economics Modelling for Smarter Product Development

Author(s) Evangelia Petaniti, Dimitra Tzamaria, Chrysoula I. Liakou, Markos Plytas
Country United States
Abstract When developing new medical technologies, it’s important to consider costs and benefits early in the process. Health economics modeling can help with this by making sure new products are both effective and financially viable. This approach speeds up evaluations and ensures new medical innovations meet market demands.
According to Saboor et al. (2024), focusing on economic factors early on improves strategies for managing neurodegenerative diseases. By identifying financial and clinical challenges ahead of time, developers can create solutions that increase acceptance of their products.
A concept called “social surgery,” introduced by Tsagkaris et al. (2023), highlights the need for a broader approach to medical technology assessment (MTA). This means looking at both social and financial aspects, encouraging collaboration among stakeholders. When health economics is included in decision-making, experts can better balance costs with patient benefits. Research by Elshikh et al. (2024) also supports integrating economic and health assessments, particularly for innovations like nanotechnology that address environmental challenges.
Bringing health economics into MTA early on helps create medical products that are not only clinically effective but also sustainable and socially responsible. A well-rounded assessment process leads to better healthcare outcomes and more efficient use of resources. As studies suggest (Gkagkaris et al., 2022; Papadakis et al., 2017), integrating economic analysis in early product development ensures that new technologies meet clinical needs while strengthening the healthcare system.
Keywords Early-Stage, Medical Technology, Assessment, Health Economics, Modeling, Product Development, Cost-Effectiveness, Clinical Efficacy, Market Barriers, Adoption, Social Surgery, Stakeholders, Collaboration, Patient Outcomes, Sustainability, Innovation, Resource Allocation, Environmental Challenges, Nanotechnology, Healthcare Ecosystem, Decision-Making, Economic Implications, Technology Impact, Clinical Needs, Neurodegenerative Diseases, Health Technology Assessment, Comprehensive Approach, Practical Strategies, Emerging Technologies, Healthcare Improvements
Field Medical / Pharmacy
Published In Volume 16, Issue 1, January-March 2025
Published On 2025-03-18
Cite This Early-Stage Medical Technology Assessment Integrating Health Economics Modelling for Smarter Product Development - Evangelia Petaniti, Dimitra Tzamaria, Chrysoula I. Liakou, Markos Plytas - IJSAT Volume 16, Issue 1, January-March 2025. DOI 10.71097/IJSAT.v16.i1.2573
DOI https://doi.org/10.71097/IJSAT.v16.i1.2573
Short DOI https://doi.org/g88r9p
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