The Medical Device Industry’s Biggest Challenge: Innovation or Taxes? – NPI published in Medical Design Technology
In this article, NPI’s Paul Steiner discusses the political fallout that threatens economic improvements. To fund the healthcare reforms set forth by Congress, medical device manufacturers will soon be charged a 2.3 percent excise tax on the sale of most medical devices.
The threats to and opportunities for the medical device industry over the next several years will be equally substantial. Reducing rampant vendor overspending is one way to tip the scales in favor of manufacturers. By offsetting the recent tax increase, medical device companies can commit more spend to R&D, protect jobs and innovate. And it’s faster than waiting for a political solution.
Tags: Cost Reduction, Expense Analysis, expense reduction analysis, Healthcare Industry, healthcare reform, healthcare tax, medical device tax, Spend Management, supply chain analysis, supply chain cost reduction
