Missed on both.
First, older models were actually better about this. Look at the Masimo pulse oximeters from the mid-90’s to the mid-00s, before Covidien forced them to go cheap or die.
Second, as long as you’re using an approved brand as a backup, there’s nothing unethical about testing a new one. Gold standard would be to compare an approved pulse-ox monitor, the new one, and blood gas. That should also greatly decrease the number of test subjects required.
I wasn’t thinking of the LED cost. A big chunk of the cost would be in redesign of both the sensor assemblies (cables and connectors are not cheap) and the capital equipment. Regulatory could be exceptionally cheap, relatively speaking. If FDA allowed expedited review, the regulatory cost could be as little as $250k. You’re thinking of a PMA, which wouldn’t be required for these devices.
That’s going to be the one way to make sure that manufacturers do the work and hospitals get the new equipment. Otherwise, just don’t bother. And did you read the article? 12% critical failure rate in a sub population is fucking horrible. It’s unacceptable. The dollars are irrelevant. If the equipment is feeding bad data to clinicians, it has to go.
That’s really cynical to say that when we’re talking about life-and-death decisions related to POC, dude.
ETA: A great example of how sun setting works is the ongoing effort to get external defibrillator pads from their old 510k approvals up to PMA approvals. FDA made it a priority and set an expedited review process and a sunset date. They are in year 4 of a 5 year process. Next year, any defibrillator pads that weren’t approved through a PMA cannot be sold. With the expedited review, the PMA process is costing about 1/10 of what it would usually cost a company.