Jul

6

Aversion to risk hinders medical innovation:

"Now, experts say, there is an often-unspoken fear of risk that threatens to kill the spirit of biomedical innovation. Whether it's avoiding the risk of spending money on possible breakthrough treatments or trying to screen out risk by extending regulatory reviews of new drugs or vaccines, society has responded to that fear in ways that may keep innovation sidelined."

An article in "Innovation News Daily" suggests that we are not taking enough risk to move away from established approaches that worked in the past to produce only more slight improvements to more entirely new ways if we wish to keep finding ways to really extent good health and life expectancy.


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  1. Andre Wallin on July 6, 2011 5:48 pm

    thanks for posting inspiring some thoughts at the moment. After clerking, trading before crisis went to Sweden to work at manufacturing company making amalgam for dental fillings who also was trying to and spending too much money on a concept for ceramic fillings which would be more durable than plastic and better aesthetic than amalgam. They were burning so much cash on this. Theoretically a good idea, but practically not so good because the things were difficult to implant in a patient and dentists would require too much training to use it. The practical innovation in the medical field have to come from entrepreneurs who must see the overwhelming opportunity and the practicality. I think the need and the technology have to be obvious to the system. Some innovators try to force things and they don’t work.

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