Health Care Trends: Cost Control Measures in Full Swing
Article preview reprinted Medtech Insight - October 2008
Find out how affordability drives medical devices purchases and use. Even the most remarkable devices can see a tremendous downturn in usage is reimbursement is lowered.
Health Care Trends: Cost Control Measures in Full Swing
Article preview reprinted Medtech Insight - October 2008
As much as the medical device industry would like to engage in unencumbered discussions about innovation and the proud role device manufacturers play in bringing new and improved treatment options to patients, the specter of costs always creeps into any conversation on the subject—sometimes dominating it. At times, legitimate concerns over the cost of delivering the best possible care outpace the arrival of new devices that can improve patient outcomes. This landscape presents a challenge to new and existing products that are continually reviewed to determine what level of reimbursement is considered appropriate. In many ways, that aspect of the market plays as big a role in determining which treatments a patient receives as does the patient's medical evaluation.
Such is the case right now, as patients, providers, and payors, who ultimately foot a good deal of the bill for innovation, are feeling tremendous pressure to drive costs down.
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Companies mentioned in this article:
Boston University
Cyberonics Inc.
University of Western Ontario
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