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Medtech Buzzwords: Helping and Hurting Innovation

 
Over the past month, I’ve spoken with several professionals in the medtech industry about the election and where its potential outcome could take us. As usual, innovation was one common thread, so here’s what some of your peers have said when asked:
 
Is the 2012 "air of uncertainty" in the medical device industry hurting innovation?
 
Mark Bonifacio
founder of Bonifacio Consulting (Natick, MA)

Len Czuba
president of Czuba Enterprises Inc
(Lombard, IL)

Toby Buck
Chairman and CEO of Paragon Medical (Pierceton, IN)
"In certain markets that might be more commoditized and the margins might not be as healthy, yes. But in other areas, I haven’t seen it.  
 
I still see a lot of innovative activity out there. There are a lot of start ups. I’m in Boston, [and the] area is very vibrant and alive [with] a lot of new technologies, electronics, telemedicine, and e-health services. If you’re working on something innovative and new, you’re trying to predict the landscape and it might slow you down. At the moment, I see the economy as a bigger drag on innovation as opposed to the uncertainty regarding the healthcare legislation."
"It seems to me that the policies the government has put in place—federal and local government—need to foster the climate of business-friendly environment.
 
In Illinois, Governor Quinn implemented a huge tax on business. The result of that is companies have looked to move out of the state. If we go the opposite [direction] and give companies huge tax breaks to come into the state and do business, we all of sudden put people to work, we reduce the ranks of unemployment; once people have the money to spend on housing and goods and food and entertainment ."
"The regulatory environment has gotten so arduous with all the validations and the way that a Class I, II or III device behaves in the marketplace. We’re not helping introduce healthcare reformation through innovation, we’re constraining it."

Maria Fontanazza is managing editor at UBM Canon. Follow her on Twitter: @MariaFontanazza.
 
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