Value of Technology
The Medical Technology Association of Australia (MTAA) Value of Technology (VOT) research improves the understanding of the impact of advances in medical technology on healthcare expenditure in Australia, and the associated costs and benefits for the Australian healthcare system and community.
Medical technology saves and improves lives by detecting disease earlier and providing more effective treatment options for patients and the healthcare system. Medical technology can deliver significant savings to the health system over time and innovative new health technologies need to be encouraged to ensure these savings continue to be available. Currently, the benefits of medical technology in Australia are often poorly understood, insufficiently articulated and developed, and generally suffer from a perception of being a burden on the healthcare system.
The main focus of VOT research is the clinical and economic burden of various disease areas and the cost/benefit impact relevant medical technologies have on these diseases for the patient and for the Australian healthcare system. Funding mechanisms for patient access to these medical technologies require review.
VOT research provides support for advocacy for funding of a range of technologies that might not have strong Australian evidence to date and/or lack funding.