'Medicare For All' Bills Prompt Warning From Former US FDA Commissioner Gottlieb
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.
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A Republican congressman at a recent House hearing said that billions of dollars of medical device sales would be legislated out of existence by Medicare for All Act legislation, while Democrats argued that health care costs borne by US employers and employees already gobble up 18% of US gross domestic product, and adoption of a single-payer would lower these costs.
Following his recent talk at the National Press Club on reimbursement issues, former US FDA Commissioner Scott Gottlieb told Medtech Insight a new breakthrough device rule proposed by the Medicare agency CMS is good but will still be economically unfeasible for many hospitals. Instead, he says new frameworks need to be developed for the new kinds of technologies coming to market.
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.