A new report just released by the Bipartisan Policy Center (BPC) http://bipartisanpolicy.og recommends a series of policy actions that Congress can take to help reduce the time and cost of developing and delivering safe and effective medical products to patients.
The report, “Advancing Medical Innovation for a Healthier America” was developed over six months by BPC with guidance from Co-Chairs former Senate Majority Leader Bill Frist, M.D. and former Congressman Bart Gordon, along with an expert advisory committee.
According to Frist, “It’s time to take action to significantly advance medical innovation in the U.S.”. Americans cannot afford to rely on 20th century methodologies for treatments when the world is on the cutting edge of new medical technologies. Federal agencies must be equipped to keep the U.S at the forefront of medical innovation.”
The report’s recommends focusing on improving the medical product development process to more rapidly bring safe and effective cures to patients. There is a need to increase regulatory clarity, strengthen the FDA’s ability to carry out its mission, and invest in medical products to address unmet public health needs.
BPC recognizes that the recommendations could require additional resources not available within the FDA’s current budget. According to BPC Director of Health Innovation Janet Marchibroda, “The recommendations will provide FDA with the tools and support they need to succeed in this rapidly evolving field, and ultimately will improve the global competitiveness of American companies.”
If additional funding is required, BPC recommends FDA first review and prioritize existing programs and reallocate funds as appropriate. If further funding is required, BPC suggests additional resources be provided through reduction in federal spending programs, increased user fees, new revenues, or a combination of all three.
Go to http://bipartisanpolicy.org/wp-content/uploads/2015/07/BPC-Advancing-Medical-Innovation.pdf to view the report.