Most Companies Still Mum On Device Tax Coping Strategies
This article was originally published in The Gray Sheet
While some companies have started to reveal strategies to either soften the blow or to capitalize on the impending device excise tax, many have revealed little to no detail on their planned response.
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The site Medical Device Tax Watch (www.devicetaxwatch.com) lists companies that the Healthcare Supply Chain Association says are “shifting the burden of the medical device excise tax ... directly to American hospitals and other health care providers.”
Comprehensive tax reform is a top priority of House Republicans this year, Ways and Means Chairman Dave Camp, R-Mich., said last week, providing a potential vehicle for device tax repeal. And the device tax received attention at a Democratic-controlled Senate Budget Hearing last week.
The prospective medical device tax, the continuing decline of venture investing, pricing challenges, austerity measures in Europe, and other headwinds continued to push against the medtech industry in 2012. But emerging clinical and geographic markets, along with an active M&A market, are providing the industry with some momentum going into 2013.