How Insurers Curb Costly Hips, Knees And Other Medical Devices
The medical device industry, already feeling the brunt of a tax to help fund the Affordable Care Act, is seeing a dramatic increase in insurance company strategies curtailing the use of newer technologies.
Insurance companies are ramping up myriad new payment strategies impacting manufacturers and sales of their new devices and diagnostic tests such as pay-for-performance, risk-sharing and the use of evidence-based medicine, which can lead to newer devices not being covered by insurance if there’s no proof they are better than older devices.
In a new study released this week in Chicago by AdvaMed, the lobby for medical device makers, adoption of new “pay-for-performance and financial risk-sharing arrangements” has escalated with 62 percent of the insurance company respondents’ beneficiaries involved in such payment strategies this year, the study by the Analysis Group.
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Insurance companies are ramping up myriad new payment strategies impacting manufacturers and sales of their new devices and diagnostic tests such as pay-for-performance, risk-sharing and the use of evidence-based medicine, which can lead to newer devices not being covered by insurance if there’s no proof they are better than older devices.
In a new study released this week in Chicago by AdvaMed, the lobby for medical device makers, adoption of new “pay-for-performance and financial risk-sharing arrangements” has escalated with 62 percent of the insurance company respondents’ beneficiaries involved in such payment strategies this year, the study by the Analysis Group.
Help employers find you! Check out all the jobs and post your resume.