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Group Health Affairs in the Biomedical Technology Industry Part II: Clinical and Economic Research Services
  • Eric Silfen,
  • Kevin Appareti
Eric Silfen
MedTech Analytics LLC

Corresponding Author:[email protected]

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Kevin Appareti
Philips Healthcare US
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Clinical and economic research fosters corporate integrity. A company's products, services and solutions are designed to improve the health and well-being of customers. A company must develop superior standards in order to make strong claims as well as create a brand built upon having true influence on customers' lives. There are two, over-arching reasons to develop a centralized, Clinical and Economic Research Service. First, as a part of all quality initiatives, the company must demonstrate that it does not only devote efforts towards quality in engineering or manufacturing. The company must emphasize that quality signifies the effects its products have on people's lives. The second reason is to reduce the risks associated with making claims that the company's products, services and solutions cannot stand behind. The company wants to make strong claims for its products, but if they do not meet established standards then the firm has created an ambiguous situation. The company must mitigate risks by incorporating standards into its end-to-end efforts, and it must back these standards with a corporate-level presence. Although the company may compete against many types of businesses in the health and wellness sector, by mitigating risks the firm will maintain exceptional branding as well as innovate with quality.