Device Firms Expect Little From Obamacare Insurance Expansion, But Numbers More Complicated
This article was originally published in The Gray Sheet
It remains to be seen how many new people end up insured on the Obamacare exchanges, and what the impact will be on device markets. Many executives at implantable companies suggest they will see almost no impact, in part because they get most of their business from Medicare. Government health care statistics, actually suggest a fairly high percentage of under-65-year-old patients get pacemakers, stents, knees and other devices. But there may also be other factors at play.
You may also be interested in...
A Wells Fargo analysis on the expected increase in device utilization rates based on expanded insurance coverage due to provisions in the Affordable Care Act will offset the financial impacts of the 2.3 percent device excise tax.
The addition of the question “Was this device serviced by a third party servicer?” to adverse event reports filed through the US FDA’s electronic Medical Device Reporting system could prove helpful for the agency and device makers, experts tell Medtech Insight. Industry has long complained about poor work performed by servicers – and loudly groused that they’re not regulated.
Attorneys tell Medtech Insight a recent proposal to review regulations every 10 years could lift some burdens from the medical device industry, but warned that the full effects may not be seen for some time.