CMS Actively Looking For New Reimbursement Pathway For Innovative Devices
Industry is looking for a policy by the end of the year that would provide an automatic, temporary coverage pathway for breakthrough devices, and federal officials, including from the US Centers for Medicare and Medicaid Services (CMS) acknowledge they are actively looking at options for improving device reimbursement.
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The US Centers for Medicare and Medicaid Services plans to automatically allow reimbursement and up to 65% new technology add-on payments for US FDA-approved, -cleared or de novo devices in the agency's Breakthrough Devices Program. Industry groups, including the Medical Device Manufacturers Association and AdvaMed, have been pushing CMS for such coverage for several years.
HHS Secretary Alex Azar was pressed on issues tied to the Affordable Care Act and the recently proposed FY 2020 budget at a March 12 congressional hearing.
The balance of power will be shifting in Washington, DC, following the Nov. 6 US midterm elections, but that probably will not mean major changes for medtech policies. Here are some key takeaways from the election for device and diagnostics companies.