Posts Tagged ‘MedTech’

Infographic: How Budget Cuts and New Taxes Affect Med Tech

May 8th, 2013 by Patricia Donovan

Repeated budget cuts and new taxes are affecting the field of MedTech, according to this infographic from the Advanced Medical Technology Association (AdvaMed).

This graphic highlights the benefits that MedTech delivers as well as the costly burdens this sector faces, such as a $30 billion medical device excise tax and proposed further cuts to Medicare that would harm patient access to life-changing, life-enhancing medical technology.

Advancements in medical technology are driving more efficient and cost-effective care, says AdvaMed. For example, hospital stays dropped by more than 50 percent between 1980 and 2000. Meanwhile, spending on medical technology accounts for only 6 percent of national health expenditures, a figure that has remained constant over the past two decades.

How Repeated Cuts and New Taxes are Affecting Med Tech

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You may also be interested in this related resource: Reusing Single-Use Devices.