Written by Forbes Contributor David Shaywitz
To fix or to reinvent? That’s the question many would-be innovators ask as they contemplate potential applications of technology to health.
Dr. Stephen Wiviott, a cardiologist and Senior Investigator with the legendary TIMI Study Group at Boston’s Brigham and Women’s (BWH) hospital, nicely represents the views of what might be called the “fix it” folks. At a recent panel discussion at the World Medical Innovation Forum (viewable here), Wiviott noted how expensive traditional randomized clinical trials (RCTs) can be, telling the audience that the cardiovascular (CV) outcome trial he’s now running for an SGLT2 medication involves the recruitment of 17,000 patients, will take seven years to complete, and will cost about half a billion (with a “b”) dollars. He suspects that it shouldn’t need to cost nearly that much, and that improved regulations in particular, as well as improving efficiencies at each step of the trial (potentially with the help of data and technology) could take 90% of the cost out of the current system.