E D I T O R ' S Q U E S T I O N
LUKE BLANEY
MANAGING DIRECTOR AT ARX
Whether it be from a Labour government , or a Conservative government , HealthTech companies , and 3rd party HealthTech consultancies like ours have wanted to see two main things from the UK government for some time .
The first , is tougher regulation , and more safety measures for new products entering the market . There are always risks with any new product in this field . With any commercial enterprise it is always a perpetual balancing act between keeping a business viable , and keeping patients safe .
It has been tabled that ( as with Pharmaceuticals ) a professional QP ( Qualified Person ) for batch sign off ( or product sign off ) be implemented , to ensure there is a responsibility within the Quality Assurance function to ensure complete compliance with regulations and reduce any safety concerns patients may have . It also puts a stronger accountability back at the businesses doorsteps .
Truthfully , I ’ m not sure of the truth of this story , but I ’ ve heard it several times across the Medical Device industry , of a cheaper brand of mobility aid ( similar to , but not , the Zimmer Frame ).
The company that manufactured the device changed the material of the screws , in order to save about £ 0.40p per frame . Sadly , the new material used was of poorer quality , and these frames had to be recalled as when used repeatedly the screws would break and the frame would collapse .
The second change that HealthTech companies want to see from a labour government , as always , is more funding in the sector .
Specifically , they are looking for higher funding within startup companies that are patient centric and focussed on providing life-saving , or life altering experiences for patients .
This doesn ’ t specifically have to be focussed on end user products only ( things that the patient literally sees or uses ) but can be on things like diagnostic tools that prevent the patient finding themselves in more pain or discomfort because of incorrect treatment , or even for personalised medicines to prevent patients reacting to negative combinations of drugs .
If Labour could put more funding into the places that matter and aim for significant increases in regulation for the products already on the market and still in production , they would go a long way to winning over these HealthTech companies .
If true , this is exactly the type of thing that higher regulation , and more accountability would prevent happening again .
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