“Open Innovation in the Medical Device Industry
Publication Date
January 2020
Document Type
Contribution to a Book
Publication Title
Managing Medical Technological Innovations
DOI
10.1142/9789811204692_0007
Abstract
Using a case study of Acclarent, a medical device company, this chapter attempts to propose a framework to further illustrate the process of open innovation in the medical device industry. We examined five elements in the mechanism of the open innovation process. This chapter shows how the success of Acclarent — a medical device start-up — depends on effective management of the flow of knowledge to satisfy unmet needs, while integrating in-depth knowledge of FDA regulations and third-party payers’ reimbursement policies into the product innovation process.
Keywords
Acclarent, medical device company, Open innovation
Recommended Citation
Hua-hsin Wan and Iris Quan. "“Open Innovation in the Medical Device Industry" Managing Medical Technological Innovations (2020). https://doi.org/10.1142/9789811204692_0007
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