MedTech Dive August 11, 2023
Fewer than 30% of novel medical devices obtain some Medicare coverage in the three years after regulatory authorization, researchers found.
Dive Brief:
- Fewer than 30% of novel medical devices receive nominal or better coverage from Medicare in the three years after regulatory authorization, according to a paper in JAMA Health Forum.
- The researchers analyzed the lag between U.S. Food and Drug Administration authorization and Medicare coverage for 64 devices and diagnostics. Twenty-eight of the products received coverage before the cut-off date, and the median wait was 5.7 years.
- According to the authors, who found small companies wait longer than big businesses, the study shows the need for “a more efficient and timely reimbursement process.”
Dive Insight:
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