The Progression of the Medical Device Tax Repeal

As the Affordable Healthcare Act—or Obamacare as it is commonly called—moves along, medical device manufacturers are watching closely. That’s because the hotly debated Medical Device Tax continues to meet resistance among manufacturers and politicians alike. The tax, which began in 2013, was created to help fund the health-care law, and to do so, it takes 2.3 percent from the makers of defibrillators, pacemakers, artificial joints and heart stents.

After garnering disapproval from both sides of the aisle, the House of Representatives voted to repeal the medical device tax in June by a vote of 280-140. Those opposing the repeal state that completely eliminating the medical device tax without establishing an alternative area of funding creates a shortfall of about $25 billion.

Because the House’s decision was one vote short of a veto-proof consensus, the vote will go to the Senate next where the lack of alternative funding has stalled the repeal previously. Even if the Senate approves the repeal, President Obama holds veto power. The prospective strategy may attach the medical device tax repeal to other legislation that Obama would find hard to veto or to negotiate to limit the tax. In any case, the Senate will determine the next step in this long debate.

Is it Better to Finance or Lease?

Contemplating whether leasing or buying medical devices is the best option for your practice? You are not alone. Numerous medical offices make the same decision every day. Devices come in all shapes and sizes, but they also come in varying prices. For those big-ticket items, it may not be feasible to pay for the device outright. Fortunately, there are two different payment options that may fit the bill for those larger devices.

Leasing

With the constant flux of technology, leasing more expensive machines protects against obsolescence and an empty wallet. With a lower upfront cost you can save for other areas of the practice and get a tax break as well for the lease payments. The company that owns the equipment will also handle maintenance and repairs so you don’t have to foot that bill. Not all of Medical Device Depot’s products have a leasing option, but many do.

  • Updated equipment
  • Low cost
  • Maintenance covered

Financing

This is an option for all credit types and new and established businesses. The number-one advantage you will immediately recognize when you opt for financing is that you will own the device. Some practices value being able to treat equipment like it is their own, which also means selling it when they are done with it. Others, however, prefer to trade their equipment for a newer model when a lease’s term is up. There is also no re-negotiating to continue using the product when you own it.

  • Ownership
  • Resale

If you have any questions about what pricing option is best for you and your practice, the customer service staff at Medical Device Depot can help you find the solution that fits. The phone will always be answered by a trained representative who is ready to help you find the best option for your practice. Whether this is your first time buying from Medical Device Depot or your tenth, they will be eager to find a unique solution to your current needs and pricing limits. When it comes to making large financial decisions, the customer service representatives will leave you feeling supported and secure.

What’s new in ultrasound technology?

The medical device industry is constantly growing thanks to new innovations and patient demand. Ultrasound technology is no different, and 2015 has seen its fair share of change in this industry.

Like many other technologies in health care and beyond, ultrasound technology is becoming smaller, lighter and more portable, ensuring practitioners can bring the technology where they need it the most at any time.

At the University of Cincinnati Children’s Hospital, a team is perfecting the use of robotics to assist in the difficult task of central line insertion, reducing the failure rate and the discomfort suffered by patients. The device is operated by a joystick and cuts insertion time from eight minutes to two minutes while increasing the success ratio.

Meanwhile, an Oxford, UK, company is developing a unique piece of ultrasound technology called SonoTran, which is aimed at helping chemotherapy drugs penetrate the difficult-to-enter center of solid tumors.

Finally, FBI investigators are using ultrasound technology in the form of biometrics to improve retinal scanning and voice-activated access to buildings and security-dependent areas. While not a part of the medical industry itself, it is interesting to see how ultrasound technology has branched out into other fields.

As the health-care industry continues to grow new, technologies appear daily to assist medical professionals with providing service to their patients. To learn more about the latest medical devices that can assist you in your practice, visit MedicalDeviceDepot.com.

How Medical Device Depot makes buying and receiving products easier

Professionals in the health-care industry don’t get to use phrases like “Maybe tomorrow,” or “I’ll get to it when I can.” They work in a fast-paced environment where quick and correct are paramount, and nothing can be pushed off to be handled later.

At Medical Device Depot, we understand the world of health care and we know that every moment you wait for a tool or product from us is a moment wasted. That’s why we work to make the buying and shipping process as quick and efficient as possible.

It starts with education

In order to efficiently help health-care professionals, we have to speak their language. In the past, health-care professionals had to purchase medical devices from inexperienced, under-trained people who were trying to help but simply lacked the expertise.

Medical Device Depotchanged all of that by filling its staff with knowledgeable professionals who understand the industry as well as the devices they sell. For health-care professionals, this means you don’t have to waste time walking us through what you need. We speak your language and we can help you find the best product for you quickly.

Representatives are here for you

We understand you don’t have time to navigate an automated system when trying to place your order. That’s why we pledge your phone call will always be answered by a human being and not a machine. Additionally, if our representatives are working with another customer when you call, we pledge your phone call will be returned within the hour.

Shipping is easy

Once your order has been placed, our team works to process and ship it as quickly as possible. Our orders are shipped through UPS and you have the freedom to choose your arrival date when you place your order, ensuring that if you need something quickly, you get it right away.

Place your order today

In today’s market you don’t have time to shop around for a vendor who can provide the solutions you need. Partner with Medical Device Depot and we’ll provide the medical devices and disposable supplies your facility needs to keep up with the busy demands of today’s health-care world.

What you need to know about buying disposable products from Medical Device Depot

When you think of Medical Device Depot, you think of your one-stop source for all of the latest technology your practice needs. We offer thousands of dependable products protected by comprehensive warranties.

And so, it may surprise you to learn that the place you go for all of your long-term needs and solutions is also the place where you can find your one-use disposable products.

At Medical Device Depot, we strive to be the source for everything your facility needs. That means understanding that sometimes you’ll need a device you can use over and over again, and other times you’ll need a one-use health-care solution. We offer disposable products across 63 different categories. Whether you’re looking for slippers and socks, tape, gloves or abdominal pads, you’ll find them all at Medical Device Depot.

Take a look at our product categories and research the disposable supply you need. You’ll find options within each product category, allowing you to find the product you need in the quantity your facility requires. And, best of all, because they come from Medical Device Depot you know the disposable products you purchase will offer the same industry-standard quality you’ve come to expect from the medical devices that are our namesake.

To find the products your facility needs, contact Medical Device Depot today.

What are the most common issues during FDA inspections of medical devices?

FDA inspections are par for the course in the medical device industry. Every medical device company class II or higher, in fact, should be inspected at least once every two years, according to existing bylaws.

Every medical device, medical device company and FDA inspection is different, but if you look at the applicable data from 2013 you can see some very clear trends in the most common features of these inspections.

FDA 483 Observational data for 2013 shows that more than 35 percent of the observations involved three areas: Design controls (13.25%), Corrective or Preventative Action (11.75%) and Complaint Handling (10.65%). These statistics are invaluable when it comes to focusing on your next FDA inspection.

To make sure your FDA inspections flow as smoothly as possible, ensure the protocols below are followed:

  • Properly document all design controls. Your lack of thoroughness will not go ignored.
  • Follow the proper corrective and preventive actions when responding to problems. It can be tempting to simply jump in and fix the problem, but moving forward with a controlled approach will pay dividends in the end.
  • Record all complaints. Operating with the “out of sight, out of mind” method can be tempting when dealing with complaints, but fixing the issue without following the proper investigative protocols will lead to future inspection questions.

FDA inspections are a common feature of the medical device industry and something companies should be prepared for every day. Adhering to strict guidelines throughout the year will lead to a smoother inspection process.

How medical device surveillance benefits clinicians

Patients deserve high-quality care options, thoroughly grounded in research to ensure the best possible outcomes. It sounds like an obvious staple of the health-care world, but this is not always the case.

Efforts exist to better understand the effects of prescription drugs – both benefits and risks – but no such efforts exist to discover the same in medical devices. In fact, many devices have little accompanying data pertaining to their effectiveness, reliability or quality once they are released to the market. Instead, these things are learned “in the field” when they are used in association with the treatment of patients. Rarely is that information shared.

This isn’t to say clinical trials are not done – far from it in fact. But the information these trials offer often fails to answer the questions that arise from in-practice situations.

Medical professionals are working to change this. A joint project from the Center for Health Policy at Brookings, the Food and Drug Administration and clinician, industry, payer and patient representatives will seek to outline the process for creating a national system that captures important device-related information as they are used in the field.

The medical device post market surveillance system, as it is being called, aims to improve safety surveillance while supporting device evaluation capabilities. The data gleaned here will further allow clinicians to analyze the device’s capabilities, overall quality and how it compares to other devices in the same space.

To succeed, however, the system will need to determine how to gather this information while minimizing the reporting required from clinicians. Research shows the average clinician may spend as little as four minutes with a patient, and most spend 8-15 minutes reporting afterward. It is not possible for these numbers to actually decrease if additional reporting time is required.

This new evidence must also be delivered in real time in order to offer any benefit. In a fast-paced industry such as health care, data that is reported late will likely be reported for a device that has already become obsolete.

While these are important challenges, the idea of a medical device post market surveillance system offers benefits to everyone involved in health care. Patients deserve high-quality options and such a system makes those options possible.

To find the medical devices your health-care facility needs, visit MedicalDeviceDepot.com.

How patient experience improves the medical device industry

This is an exciting time to work in the medical device industry. After decades of trying to determine the role of patient experience when creating regulatory policy, it appears answers may finally be coming.

The Medical Device Innovation Consortium released what it calls an “initial thought piece” in May, providing a guide for device makers seeking out information regarding patient preference when submitting data to obtain product approvals. The Consortium represents a joint effort of the device industry itself, the National Institute of Health and the Food and Drug Administration.

Ross Jaffe of Versant Ventures says that while patient preference is not required for a device manufacturer to obtain FDA approval, device manufacturers should consider it “an enhancement of a submission.”

In addition, device manufacturers benefit from the newly released FDA guidance that outlines just what patient preference information will be reviewed and considered by the FDA when weighing approval of any application for a new medical device.

For medical device manufacturers, these developments shed new light on an area that has always been frustratingly unclear. Device manufacturers can now use this information and these new guidelines to efficiently deliver proper applications to the FDA and get new, helpful medical devices on the market for the health-care facilities and patients in need, all more quickly than ever before.

To find all of the medical devices your health-care facility needs, contact Medical Device Depot today