The Advanced Medical Technology Association has announced the release of policy recommendations aimed at preserving America's position as the leader in medical technology innovation.
AdvaMed's "Competitiveness Agenda" outlines six policy initiatives intended to make it easier for American medical progress to thrive, according to an AdvaMed news release.
The Competitiveness Agenda proposes specific recommendations under the following policy imperatives, according to the release:
- Innovation in the life sciences must be a government priority, including requiring an innovation impact statement for significant new regulations that affect the health sector;
- The FDA review process must be reformed to reduce total review times. American patients should have as prompt access to new treatments as European patients do;
- Payment policies of Medicare, Medicaid and private insurers must support medical innovation and not penalize early adopters of new treatments and cures;
- A vigorous 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, including improvements to the R&D tax credit to keep it competitive with other countries; and
- The American research and development infrastructure must be sustained and improved. Special emphasis should be placed on creating research structures that support commercialization of the R&D.
"America is the acknowledged world leader in medical technology, but that leadership is being challenged," said Stephen J. Ubl, president and CEO of AdvaMed, in the release. "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."
Read the AdvaMed news release about the Competitiveness Agenda.
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