Medical device industry calls for government to weigh costs of new regulations

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These include: 

• Making innovation in the life sciences a government priority along and requiring the impact statement for "significant new regulations that affect the health sector";

• Reforming the Food and Drug Administration's review process for devices to reduce total review time;

• Ensuring Medicare, Medicaid and private insurance payment policies "support medical innovation" and don't penalize "early adopters of new treatments and cures";

• Promoting a "vigorous trade policy" that supports export growth;

• Implementing "strategic tax policies," including improving the Research and Development tax credit; and

• Sustaining and improving the U.S. research and development infrastructure, especially with regards to commercialization.

"America is the acknowledged world leader in medical technology, but that leadership is being challenged," AdvaMed President and CEO Stephen Ubl said in a statement. "We know medical technology has a bright future. The question is: will that future be made in America—or somewhere else? Without the right public policies in place to provide a level playing field between the U.S. and foreign competitors, America's leadership will be lost."