How much do physician-entrepreneurs contribute to new medical devices?

Medical Care

Volumn 51, Issue 5, 2013, Pages 461-467

  Smith, Sheryl Winston ^a   Sfekas, Andrew ^a  

^a TEMPLE UNIVERSITY   (United States)

Author keywords

FDA approval; medical device innovation; physician innovation; sunshine act; text matching methodology

Indexed keywords

ALGORITHM; ARTICLE; BINOMIAL DISTRIBUTION; COMMERCIAL PHENOMENA; CONTROLLED STUDY; CORRELATION ANALYSIS; DEVICE APPROVAL; FINANCIAL MANAGEMENT; HEALTH CARE INDUSTRY; HUMAN; MEDICAL DEVICE; PHYSICIAN; PRIORITY JOURNAL; REGRESSION ANALYSIS;

DIFFUSION OF INNOVATION; ENTREPRENEURSHIP; EQUIPMENT DESIGN; HUMANS; INTELLECTUAL PROPERTY; PHYSICIAN'S ROLE; REGRESSION ANALYSIS; UNITED STATES;

EID: 84876283712     PISSN: 00257079     EISSN: 15371948     Source Type: Journal    
DOI: 10.1097/MLR.0b013e3182836d76     Document Type: Article

References (34)

1. Interviews conducted at Medtronic, Inc., Minneapolis, Minnesota. April, 2006.
2. Kraul C. Catheter maker started 2 years ago: Versaflex medical supply firm to be bought for $95 million. LA Times 1988. Available at: http://articles.latimes.com/1988-04-02/business/fi-545-l-medical-supply-busi ness. Accessed April 18, 2012.
3. Gott VL, Alejo DE, Cameron DE. Mechanical heart valves: 50 years of evolution. Ann Thorac Surg. 2003;76:S2230-S2239.
4. Orlandi RR, Marple BF. Development and evaluation of new technologies in otolaryngology-head and neck surgery. Otolaryngol Head Neck Surg. 2007; 137:529-531.
5. Institute of Medicine. In: Lo B, Field M, eds. Conflict of Interest in Medical Research, Education, and Practice. Washington: The National Academies Press; 2009.
6. Pew Prescription Project 2010. Physician Payments Sunshine Provisions in Health Care Reform. Available at: http://www.prescriptionproject.org/tools/ sunshine-docs/files/Sunshine-fact-sheet-6.07.10.pdf. Accessed March 6, 2012.
7. Winston Smith, S. 2008. The Company They Keep: Innovation Returns To Corporate Venture Capital In The Medical Device Industry, Entrepreneurial Clinicians, and Competitive Coinvestors, SSRN eLibrary, http://ssrn.com/ abstract=1095651.
8. Winston Smith S, Shah SK. Do innovative users generate more useful insights? An analysis of corporate venture capital investments in the medical device industry. Strategic Entrepreneurship J. 2013;7. (Forthcoming).
9. Jeffrey K, Parsonnet V. Cardiac pacing, 1960-1985: a quarter century of medical and industrial innovation. Circulation. 1998;97:1978-1991.
10. Bogers M, Afuah A, Bastian B. Users as innovators: a review, critique, and future research directions. J Manage. 2010;36:857-875.
11. von Hippel, E. 2005. Democratizing Innovation. Cambridge, MA: MIT Press
12. Lettl, C, Rost, K., & von Wartburg, I. 2009. Why are some independent inventors "heroes" and others "hobbyists"? The moderating role of technological diversity and specialization. Research Policy, 38(2): 243-254.
13. Chatterji AK, Fabrizio KR, Mitchell W, et al. Physician-industry cooperation in the medical device industry. Health Aff 2008;27: 1532-1543.
14. DeMonaco HJ, Ali A, von Hippel E. The major role of clinicians in the discovery of off-label drug therapies. Pharmacotherapy. 2006;26:323-332.
15. Zucker LG, Darby MR, Brewer MB. Intellectual human capital and the birth of US biotechnology enterprises. Amer Econ Rev. 1998;88: 290-306.
16. von Hippel E. The dominant role of users in the scientific instrument innovation process. Res Policy. 1996;5:212-239'.
17. Food and Drug Administration (FDA). 2012. Premarket Approval. Available at: http://www.fda.gov/MedicalDevices/DeviceRegulationand Guidance/ HowtoMarketYourDevice/PremarketSubmissions/Premarket ApprovalPMA/default.htm. Accessed March 6, 2012.
18. Kaplan AV, Bairn DS, Smith JJ, et al. Medical device development: from prototype to regulatory approval. Circulation. 2004;109: 3068-3072.
19. Pena C, Bowsher K, Costello A, et al. An overview of FDA medical device regulation as it relates to deep brain stimulation devices. Ieee Trans Neural Syst Reh En. 2007;15:421-24.
20. MacMillan I, Roberts E, Livada V, et al. Corporate venture capital (CVC) seeking innovation and strategic growth: Recent patterns in CVC mission, structure, and investment. Washington, DC: National Institute of Standards and Technology, U.S. Department of Commerce. NIST OCR 08-916.
21. Chatterji AK, Fabrizio K. How Do Product Users Influence Corporate Invention? Organization Science. 2012;23:971-987.
22. Manning C, Raghavan P, Schutze H. Introduction to Information Retrieval. Cambridge: Cambridge University Press; 2008:107-113.
23. Hanley KW, Hoberg G. The information content of IPO prospectuses. Rev Financ Stud. 2010;23:2821-2864.
24. Hoberg G, Phillips G. Product market synergies and competition in mergers and acquisitions: a text-based analysis. Rev Financ Stud. 2010;23:3773-3811.
25. Tetlock PC, Saar-Tsechansky M, Macskassy S. More than words: quantifying language to measure firms' fundamentals. J Finance. 2008;63:1437-1467.
26. Tetlock PC. All the news that's fit to reprint: do investors react to stale information? Rev Financ Stud. 2011;24:1481-1512.
27. Tetlock PC. Giving content to investor sentiment: the role of media in the stock market. J Finance. 2007;62:1139-1168.
28. Standard and Poor's Corporation. 2007. Healthcare: Products and Supplies, Standard and Poor's Industry Surveys.
29. Lo B, Kelch RP, Grady D. Invited commentary-illuminating physicians' financial relationships with industry. Arch Intern Med. 2011;171:587-589.
30. Mendelson TB, Meltzer M, Campbell EG, et al. Conflicts of interest in cardiovascular clinical practice guidelines. Arch Intern Med. 2011; 171:577-584.
31. Babu MA, Heary RF, Nahed BV. Device innovation in neurosurgery: controversy, learning, and future directions. Neurosurgery. 2012; 70:789-795.
32. Pham-Kanter G, Alexander G, Nair K. Effect of physician payment disclosure laws on prescribing. Arch Intern Med. 2012;172:819-821.
33. Katila R, Rosenberger JD, Eisenhardt KM. Swimming with sharks: technology ventures, defense mechanisms, and corporate relationships. Adm Sci Q. 2008;53:295-332.
34. Dushnitsky G, Shaver JM. Limitations to interorganizational knowledge acquisition: the paradox of corporate venture capital. Strateg Manage J. 2009;30:1045-1064.