By Greg Sorensen, M.D., CEO, Siemens Healthcare North America
A tax of this magnitude will be deeply felt by the industry and by the health care system as it creates a more difficult environment to create jobs and develop new life-saving innovations. For a company that engineered the world's first cardiac pacemaker, the world’s first real-time ultrasound diagnostic device, and the world’s first integrated whole body PET-MR, a $1 billion loss in revenue over ten years could have a significant effect on our ability to invest in the type of R&D and product development that leads to these types of life-saving inventions.
Innovative technologies that provide early detection and reliable diagnosis developed by companies like Siemens are an integral part in creating the kind of healthcare system I hoped to deliver as a physician and the quality of care I want for our healthcare system today. Congress has the opportunity to ensure that companies like Siemens are able to create the next generation of life-saving medical devices and protect American jobs by repealing the Medical Device Tax. Dr. Sorensen is Chief Executive Officer of Siemens Healthcare North America.