US Election 2016
Are you sure you'd like to remove this alert? You will no longer receive email updates about this topic.
With an all-Republican House, Senate and administration lined up to lead the government following the 2016 elections, the path is clear for passage of a set of FDA reforms to ease device approvals embedded in a combined House 'Cures' and Senate medical innovation package. It could even happen over the upcoming lame-duck session, before the new administration and Congress take over. But controversy around price-gouging by drug firms still could stymie quick Cures bill passage, an industry attorney predicts. Meanwhile, medtech industry groups plan to seize on the Trump victory as a means to achieve permanent device tax repeal.
Latest From Elections & Medical Device
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.
Most US House of Representatives Democrats in prior sessions of Congress have been lukewarm in their opposition to the medical device tax, and in the 2018 session, a minority of Democrats voted for repeal. But this year, a large influx of first-term Democratic House members say they campaigned in favor of the Affordable Care Act, which the device tax was designed to support. One of those incoming freshmen, Rep. Chrissy Houlahan, D-Pa., explained to Medtech Insight in a recent interview why she is a staunch supporter of the ACA, but opposes the device tax, and would abolish it.
The "lame duck" session of Congress before newly elected members take their seats in January may be the best shot available for the device industry to win permanent device tax repeal, lobby group AdvaMed says. The group is making a major effort to repeal the tax before the new Congress takes over.
On this week's podcast, David Filmore and Ferdous Al-Faruque discuss the results of this week's midterm elections in the US and what it could mean for the medtech sector.
The balance of power will be shifting in Washington, DC, following the Nov. 6 US midterm elections, but that probably will not mean major changes for medtech policies. Here are some key takeaways from the election for device and diagnostics companies.
All set! This article has been sent to email@example.com.
All fields are required. For multiple recipients, separate email addresses with a semicolon.
Please Note: Only individuals with an active subscription will be able to access the full article. All other readers will be directed to the abstract and would need to subscribe.