AdvaMed recommends federal office of medical innovation
The Advanced Medical Technology Association (AdvaMed) has called for an office of medical innovation in the White House, which would be tasked with overseeing proposed and current government policies to assure that they support medical innovation, as part of a series of policy recommendations released June 6.
The “Competitiveness Agenda,” which AdvaMed released at Stryker’s device manufacturing facility in Kalamazoo, Mich., lists a series of six policy recommendations that it claims will preserve America’s position as the world leader in medical technology innovation.
“America is the acknowledged world leader in medical technology, but that leadership is being challenged,” said Stephen J. Ubl, president and CEO of AdvaMed. “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.”
Among the six recommendations, AdvaMed called for an impact statement required for regulations that affect the health sector, reforms to the FDA review and approval process, as well as Medicaid and Medicare payment policies that support medical innovation, according to the agenda. The six recommendations are:
“Adoption and execution of these policies will not be easy,” Ubl said, “but the pay-off will be great. Medical technology companies can be a driver of long-term economic growth and prosperity, as well as improved public health, but government must do its part by sustaining the innovation ecosystem that is essential for long-term success.”
In a press release made available on its website, AdvaMed cited a recent PricewaterhouseCoopers (PwC) study comparing the U.S. with nine other major world economies. “While the U.S. is still the global leader, PwC indicated declines in the country’s capacity to support innovation and projected those declines to continue in the future. Meanwhile countries like China, India and Brazil are gaining at America’s expense.”
More information about the Competitiveness Agenda can be found at AdvaMed’s website.
The “Competitiveness Agenda,” which AdvaMed released at Stryker’s device manufacturing facility in Kalamazoo, Mich., lists a series of six policy recommendations that it claims will preserve America’s position as the world leader in medical technology innovation.
“America is the acknowledged world leader in medical technology, but that leadership is being challenged,” said Stephen J. Ubl, president and CEO of AdvaMed. “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.”
Among the six recommendations, AdvaMed called for an impact statement required for regulations that affect the health sector, reforms to the FDA review and approval process, as well as Medicaid and Medicare payment policies that support medical innovation, according to the agenda. The six recommendations are:
- Innovation in the life sciences must be a government priority.
- The FDA review process must be reformed.
- Payment policy must support medical innovation.
- Trade policy must support export growth and provide a level playing field for U.S.-based manufacturing.
- Strategic tax policies to level the playing field must be implemented.
- American research and development infrastructure must be sustained and improved.
“Adoption and execution of these policies will not be easy,” Ubl said, “but the pay-off will be great. Medical technology companies can be a driver of long-term economic growth and prosperity, as well as improved public health, but government must do its part by sustaining the innovation ecosystem that is essential for long-term success.”
In a press release made available on its website, AdvaMed cited a recent PricewaterhouseCoopers (PwC) study comparing the U.S. with nine other major world economies. “While the U.S. is still the global leader, PwC indicated declines in the country’s capacity to support innovation and projected those declines to continue in the future. Meanwhile countries like China, India and Brazil are gaining at America’s expense.”
More information about the Competitiveness Agenda can be found at AdvaMed’s website.