A federal budget proposal brought good news Wednesday for Minnesota’s medical device companies by freezing for two years a tax on products like pacemakers and ventilators that they have long opposed. The package of tax cuts and spending cued up for final votes in Congress this week would suspend the 2.3% excise tax on those devices, ultrasound machines and more that took effect in 2013 as part of the funding mechanism for President Barack Obama’s health care law.
Instead of more federal regulation and subsidies, what U.S. health care needs is adoption of market principles, starting with broad empowerment of the patient-consumer. The proposals advanced in this volume would replace many counterproductive and outdated federal policies with practical, market-based reforms that aim to provide all Americans with access to high-quality health care at affordable prices.
The Obama administration and leading members of Congress are clashing over a new Medicare payment rule that could compromise patient care, impede development of a fledgling part of the biologics industry, and make it more difficult to track patient safety issues. At issue is government payment policy for a new class of drugs called “biosimilars”—drugs that are similar but not identical to the original brand name biologic drug.
As Congress considers year-end legislative options, one small change in the Affordable Care Act could make a big difference in access to quality health care for millions of Americans: Lifting the ban on creation and expansion of physician-owned hospitals.
Hillary Clinton’s prescription to soothe the economic hangover consumers have from ObamaCare’s regulatory binge is a single ingredient: more regulation. Mrs. Clinton begins her treatment plan by focusing on “price gouging” by pharmaceutical companies and the need for price regulation.
“Dr. Oliver Korshin, a 71-year-old ophthalmologist in Anchorage, is not happy about the federal government’s plan to have all physicians use electronic medical records or face a Medicare penalty. A few months ago when he applied for an exemption to the latest requirement, he had to pick an exemption category that fit.
“The only one that possibly applied to me was disaster,” Korshin says. “So I picked disaster and I described my disaster as old age and I submitted as my supporting document a copy of my passport.””
“Sparks flew Wednesday at a hearing on the botched rollout of HealthCare.gov as Republican lawmakers grilled former White House Chief Technology Officer (CTO) Todd Park about his role in the site’s creation.
GOP members had sought for almost a year to bring Park before the House Science and Technology Committee, desiring to suss out his level of involvement in the debacle.”
“Within days of the Republican Party regaining control of the Senate, a host of policy issues has quickly risen to the top of Washington’s priorities list: trade, corporate tax reform, the Keystone pipeline. And then there’s the medical device tax.
The tax, passed as part of the Affordable Care Act, plays a marginal role in the health-care overhaul, but the push to repeal it has attracted millions of dollars of lobbying, as well as high-profile supporters on the Hill, from Sen. Elizabeth Warren (D-Mass.) to Sen. Orrin Hatch (R-Utah).”
“Tuesday’s Republican victories in the U.S. Senate are inspiring strong optimism among medical device companies in Minnesota and nationwide for a repeal of the 2.3 percent tax on their products.
But repealing the unpopular medical-device tax will not be easy, even with Republican majorities in the House and Senate. Any stand-alone device-tax bill would face a likely veto threat by President Barack Obama, which means repeal is more likely to be a part of a broader bill reforming business taxes or the Affordable Care Act.”
“There is nothing more time consuming and expensive for a patient than undergoing extra tests or procedures during a trip to the emergency room, doctor’s office or urgent care center.
Often a physician will know exactly what a patient’s diagnosis is but will order an x-ray, CT scan, blood work or MRI to reaffirm his clinical judgment. The common rationale is to back up his opinion in case there is a lawsuit.”