Healthcare Finance News January 13, 2021
The rule is meant to ease undue burden for innovators and speed access to potentially lifesaving technologies.
The Centers for Medicare and Medicaid Services issued a final rule on Tuesday meant to support innovative technology so Medicare beneficiaries have access to newer, advanced devices, called the Medicare Coverage of Innovative Technology (MCIT).
The hope is that this will help smooth the Medicare coverage pathway for innovative products, resulting in faster access to new devices for seniors. The action is part of CMS’s Unleashing Innovation and Patients Over Paperwork Initiative.
Under current rules, FDA approval of a device is followed by an often lengthy and costly process for Medicare coverage. The lag time between the two results in innovators first spending...
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