Bradley Thompson, a Member of the Firm in the Health Care and Life Sciences Practice in the Washington, DC office, was quoted on the positive aspects of FDA regulation for Health IT software developers.
The article, “Is There A Business Case For Health IT Regulation? – Opposing Viewpoints,” stated that while Health IT software developers may want to avoid FDA oversight of their products, regulation may actually provide market benefits.
Thompson pointed out that although satisfying FDA requirements adds to product development costs and timelines, it can also augment a company’s competitive edge and profitability in a crowded market.
Regulation also amounts to a “vote of confidence” in the safety of the software product, Thompson said. Thus, companies that invest the additional resources and take on the greater risk “get rewarded with greater return.”