Medical device reimbursement: How it’s a brave new world

[Image courtesy of NASA]

Populations in developing countries are aging. Healthcare systems are feeling even more financial pressure. In response, there’s been a shift toward payment models in the U.S. and elsewhere that emphasize “value.” In other words, health providers need to run more efficiently and effectively to get paid.

Medical device reimbursement will never be the same.

“This is a brave new world when it comes to reimbursement,” said Tom Hughes, senior principal adviser for health economics and reimbursement at Minneapolis-based RCRI.

It’s still a volume, fee-based model in the United States. But there is also tremendous change — and great opportunities out there for medical device companies of all sizes meeting an unmet need — saving costs and improving quality of care, according to Hughes.

Go to Medical Design & Outsourcing to listen to our latest podcast as Hughes explains how medical device companies can adapt.

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