Why Are Medical Costs so High?

11/7/2018:  The expected time to recoup an investment is long.  There are two FDA routes.  One is called 510K, which means there was a similar instrument prior to 1976.  This process takes an average of 2.4 years (0.5 to 7.7 years)*

The other is worse for something new.  The Pre-Market Approval (PMA) includes clinical trails and takes an average of 8.5 years ( 2.9 to 24.5 years)*

Then consider time to market, sell and defend product liability and you have your answer.

I have a US patent on method to prevent infections in total joint surgery.  There is no interest from the implant manufacturers since they project 50 to 150 million dollars and 10 years to get market approval.  No thanks.

*J Bone Joint Surg. 2017.Volume 99, Issue 6.  page 26.

Picture of Dr Lanny

Dr Lanny

Medical doctor, concluded his clinical practice of orthopedic surgery so more time for research and development in cartilage healing. As an orthopedic surgeon he was one of the pioneers in arthroscopic surgery. He has published scientific articles and textbooks, as well as lecturing internationally. His present avocation resulted from a period of incapacity following rotator cuff surgery after which he spend time doing one hand putting. This lead to interest in design of putters and a study of PGA tour player's putting. This resulted in publishing "There is More to Putting than Meets the Eye" with his now friend and partner former PGA tour player, Howard Twitty. He holds more than 40 US patents related to medicine and more than 20 in golf. The most notable to date in medicine is the motorized instrumentation for arthroscopic surgery. In golf, the IP most likely to have an impact is a novel golf grip that enhances the players performance. His Christian up bringing influence remains the focus of his life. He has written several manuscripts, one of which is "A Physician looks at Scriptural Healing." Because of his many diverse interests, he is often asked, "What are you up to now?" The purpose of this BLOG is to regularly answer that question.
Categories
Recent Posts