Four Key Policy Issues
While in DC, with our advocacy partners at member firm G2G consulting, we discussed four key medical device related issues, outlined below. We met with all eighteen members of Congress, sixteen from the US House of Representatives, and both Ohio senators. This included in-person meetings with Senators Brown and Portman, Congressman Steve Stivers, and key staff members who focus on healthcare in each representative’s office.
- Permanent Repeal of the Medical Device Tax
The current 2.3% excise tax on medical devices, part of the affordable care act, is due to expire December 31, 2019, and we are pushing again for a full repeal of the tax. Nearly 300 members of Congress supported the previous repeal effort, an example of true bipartisan support of an important issue.
- Ensuring Patient Access to Critical Breakthrough Products Act of 2019
This non-partisan act ensures when a device/diagnostic company receives FDA Breakthrough designation. The Centers for Medicare and Medicaid Services (CMS) would issue a transitional reimbursement code immediately instead of the current process of waiting up to 3 years for patients to have access to what is an FDA approved, groundbreaking, and lifesaving technology.
We support the US Healthcare system transitioning from a fee-for-service/fee-for-product (volume-based) payment framework to a value-based paradigm, ultimately achieving better clinical outcomes, lower overall costs, and improvement with the patient experience.
- Opioid Alternatives for Pain Management
BioOhio is currently cataloguing Ohio companies which have non-opioid or opioid alternative treatments for pain management, both devices and drugs. This fast-growing field of bioscience includes Ohio companies such as AtriCure and Sollis Therapeutics. AtriCure, whose focus is treatments for atrial fibrillation, has developed a tool that blocks pain by temporarily ablating peripheral nerves. Sollis Therapeutics is a clinical-stage pharmaceutical company developing novel non-steroid, non-opioid analgesics We highlighted both in our meetings with legislators and their staff, all of whom were excited and impressed with the innovation happening in our state! If your research relates to opioid alternatives, please get in touch with us.
BioOhio will return to Washington DC in early April for the annual Biotechnology Innovation Organization (BIO) Fly-In. Our discussions will focus on drug pricing, Medicare Part B&D, NIH funding, IP issues amongst other important topics.
If you have an issue that is important to you and your business, please get in touch with the BioOhio team and let us know. Thank you for your support!