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The Impact of Public Investment in Medical Imaging Technology: An Interagency Collaboration in Evaluation

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  • O'Connor, Alan C.

    (RTI International)

  • Link, Albert N.

    (University of North Carolina at Greensboro, Department of Economics)

  • Downs, Brandon M.

    (Canada Foundation for Innovation)

  • Hillier, Laura M.

    (Canada Foundation for Innovation)

Abstract

The Canada Foundation for Innovation (CFI) and the Canadian Institutes of Health Research (CIHR) allied to analyze the impact of their investments in medical imaging research. The CFI funds capital and operating programs for research infrastructure, and CIHR’s mandate concentrates its funding on research activity. It happens that CIHR-funded research consumes CFI-funded infrastructure as an input in the innovation process. Apart from a few partnered programs, by design there is no coordination between CFI and CIHR funding decisions. Together, these agencies invested $916 million over a 14 year period. In this paper we evaluate the economic and health benefits from advancements in one funded area, namely computed tomography perfusion (CTP). CTP is an imaging technique that uses computed tomography to measure blood flow in organs and tissues. It is most used to assess acute ischemic stroke. The net social benefits attributable to these investments are substantially positive: the benefit-to-cost ratio is estimated to be between 6.66-to-1 and 9.99-to-1. We review how public investments from multiple funders comingle in the innovation process to deliver social value and improved health outcomes.

Suggested Citation

  • O'Connor, Alan C. & Link, Albert N. & Downs, Brandon M. & Hillier, Laura M., 2014. "The Impact of Public Investment in Medical Imaging Technology: An Interagency Collaboration in Evaluation," UNCG Economics Working Papers 14-8, University of North Carolina at Greensboro, Department of Economics.
    • Handle: RePEc:ris:uncgec:2014_008
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    References listed on IDEAS

    as
    1. Chun-Yan Kuo & Glenn Jenkins, 2007. "The Economic Opportunity Cost Of Capital For Canada - An Empirical Update," Working Paper 1133, Economics Department, Queen's University.
    2. Link, Albert N. & Scott, John T., 2011. "Public Goods, Public Gains: Calculating the Social Benefits of Public R&D," OUP Catalogue, Oxford University Press, number 9780199729685.
    3. Albert N. Link & John T. Scott, 2013. "The theory and practice of public-sector R&D economic impact analysis," Chapters, in: Albert N. Link & Nicholas S. Vonortas (ed.), Handbook on the Theory and Practice of Program Evaluation, chapter 2, pages 15-55, Edward Elgar Publishing.
    4. Alan O'Connor & Brent Rowe, 2008. "Public-Private Partnership To Develop Technology Infrastructure: A Case Study Of The Economic Returns Of Dna Diagnostics," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 17(7-8), pages 649-661.
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    Cited by:

    1. Scaringella, Laurent & Chanaron, Jean-Jacques, 2016. "Grenoble–GIANT Territorial Innovation Models: Are investments in research infrastructures worthwhile?," Technological Forecasting and Social Change, Elsevier, vol. 112(C), pages 92-101.

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    More about this item

    Keywords

    cost-benefit analysis; innovation; technology; medical imaging research; innovation; CT perfusion; stroke; Canada;
    All these keywords.

    JEL classification:

    • H43 - Public Economics - - Publicly Provided Goods - - - Project Evaluation; Social Discount Rate
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

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