The Affordable Care Act, or ObamaCare, has been the legislation on everyone’s lips since it went live on the first of this year. Although the bill is commonly regarded as rife with new legislation, loopholes, problems and solutions, the bill may actually have a hidden silver lining for the medtech industry. Specifically, the new taxes mounted by ObamaCare may actually be a blessing in disguise for medical device manufacturers.
Industry insiders are pointing out that the constraints and barriers created by the Affordable Care Act are driving progress from a design perspective and an innovation perspective. Those up in arms over the new health care system may be dwelling on short-term trends rather than long-term manifestations. As the medical device industry adapts to the Affordable Care Act in years to come, newer products will be able to build the price of the tax hit into their products. Further, as more people come under coverage thanks to ObamaCare’s mandates, sales will inevitably incline.
The benefits aren’t confined to helping big business. ObamaCare also makes doctors responsible all the way through their patients’ outcomes rather than limiting their liability to only the procedures they perform, encouraging a transition from “sick care” to real health care. Such an evolution opens the door for patients, too, to be more responsible for their own recovery.
Several of Pivot International’s recent products illustrate this bridge, including a home sleep recorder that provides patients with a convenient and accurate alternative to sleep lab testing. With more concern on both sides, experts believe, a more careful, conscious healthcare climate will materialize.
For more information on medical device design and manufacturing, contact Pivot International at 1-877-206-5001.