Yesterday, Health and Human Services (HHS) Secretary Alex Azar met with representatives of large medical device manufacturing companies, who offered insight on the various obstacles device manufacturers face when trying to bring new products to market. These obstacles include receiving FDA approval for their devices, as well as securing reimbursement from Medicare and Medicaid.
Organizations represented at the roundtable discussion included Abiomed Inc., Boston Scientific, CVRx, IlluminOss, STERIS, and Varian, as well as the industry group Advanced Medical Technology Association (AdvaMed). The gathering was part of ongoing efforts at HHS to explore ways to break down barriers to innovation. Secretary Azar mentioned that he was especially interested in hearing from the individual participants about ways to advance HHS’s priority of paying for value in healthcare, as well as ways medical technology innovation can assist in another HHS priority, combating the opioid crisis.
Secretary Azar thanked the participants for their insights and emphasized HHS’s commitment to advancing value-based care and supporting scientific innovation. We will keep you updated.