Medtech CEOs Like Stryker's Lobo 'Scared' Of 'Medicare For All' Driving Lower Device Prices, Former CMS Chief Says
Former CMS Administrator Thomas Scully says device companies like Stryker Corp. are "scared to death" of the coming "Medicare for All" debate in Congress. But Stryker CEO Kevin Lobo disagrees, noting he can sell hip and knee replacements in single-payer countries as easily as in the US. Industry group AdvaMed – of which Lobo is the current chairman of the board – is taking a wait-and-see attitude before jumping into the debate, says chief advocacy officer Greg Crist.
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In an address to the National Press Club on 10 May, former FDA Commissioner Scott Gottlieb pointed to some of the challenges that CMS would face in supplying coverage for new technology, should a "Medicare for All" bill be adopted by Congress and signed by the president. Medtech Insight analyzed provisions that could impact industry in some of the proposed bills, in a comparative chart.
Stryker CEO Kevin Lobo says while repeal of the medical device tax is his top issue, there are four main priorities he wants to work on over the next two years as industry advocate group AdvaMed’s board chair. They include better public engagement, increased advocacy work with the new Congress, advancing new technology – especially start-ups – and increasing diversity in the medtech industry.
The US Senate overwhelmingly approved a bill on 16 January to implement the US-Mexico-Canada agreement, which includes a new chapter on the handling of medical devices supported by the medtech industry.