Medical Device Excise Tax To Eliminate 43,000 Jobs, Report Claims

Medical Device Excise Tax Could Kill 11% of US Med-tech Jobs, Report Claims — Medical device lobby organization AdvaMed recently released a study claiming that the medical device excise tax, slated to go into effect in 2013 as part of the Affordable Care Act, will drastically affect the number of high-paying jobs offered by the medical device industry in the United States.  AdvaMed’s study concludes that more than 43,000 jobs, or 11% of the current domestic medical device industry, will be lost as companies are forced to move production overseas as a result of implementation of the controversial tax. MORE

CMS Launches New Tool to Combat Medical Fraud — The Centers for Medicare and Medicaid Services (CMS) recently launched a new program to track fraud and abuse within the medical system through the use of “predictive modeling” technology.  The new predictive modeling software is similar to technology used to track credit card fraud and allows CMS to track payments in real time. Tracking payments and contrasting them with demographic and historical information of a particular region will likely begin to eliminate instances of fraud before the current “pay and chase” model can come to fruition on a fraudulent claim. Northup Gruman was contracted by CMS to create the new system capable… MORE

 

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