AdvaMed Releases Innovation Agenda: Proposes Device Tax Repeal; Automatic Coverage of FDA-Approved Clinical Trials

The Advanced Medical Technology Association (AdvaMed) on February 10th released a comprehensive set of policy proposals designed to renew the innovation ecosystem for medical technologies and diagnostics. View the proposal here. "[T]he innovation ecosystem that supports medical technology is severely stressed, states AdvaMed. "The U.S. has historically been the world leader in medical technology, but our leadership is eroding. Venture capital investment, especially investment in the start-up firms that are the seed corn of the industry, has plummeted." "The medical technology sector has the potential to drive the new innovation economy, developing the next generation of cures and treatments and creating well-paying jobs – the types of middle-class jobs the president and Congress want," said Stephen J. Ubl, President and CEO of AdvaMed. "Our Innovation Agenda lays out a clear framework to make that potential a reality. Implementation of the agenda will make regulatory and reimbursement procedures more efficient and transparent, speed patient access to breakthrough technologies, create a tax system that fosters innovation, and ensure fair access to world markets and continued investment in R&D." (Fierce Medical Devices) The Proposal lays out five strategies as part of this framework:  Improve the FDA's Regulatory process Meet and exceed the groundbreaking 2012 user fee agreement goals for such key objectives as reductions in total review times and more frequent ...
Source: Policy and Medicine - Category: American Health Authors: Source Type: blogs