Monthly Archives: July 2015

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.