Innovation

Procurement for Innovation in Healthcare (and Generating Economic Development too!)

Procurement is not traditionally where the healthcare industry has turned to for innovation, yet it may be a strong driver of innovation and economic development.
By SHANIQUA THOMAS

When all else fails in controlling costs … innovate. Technology has made it clear that innovation can improve end results without significantly driving up costs, and that is precisely what is needed in the healthcare industry.

Canada spends billions each year trying to provide and maintain high-quality healthcare for citizens, but the system is facing serious challenges, such as the rapid aging of the population that will double the number of seniors over the next 25 years to 10 million and rising costs that are limiting funding for priorities.

Designing innovation solutions in medical technologies and healthcare systems offers one potential solution, and that is where procurement can be an enabler of innovation, cost effectiveness, and system improvement wit...

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