MCIT Pathway Will Spur Medical Innovation and Improve U.S. Healthcare

WASHINGTON, DC – The National Venture Capital Association (NVCA) submitted comments today to the Centers for Medicare & Medicaid Services (CMS) on the delayed effective date of the Medicare Coverage of Innovative Technology (MCIT), a proposed coverage pathway for FDA-designated breakthrough devices. Originally slated to go into effect on March 15, the MCIT pathway seeks to resolve the significant challenges and uncertainties faced during the development of new products and devices, particularly in the earliest stages, and has the potential to bring major improvements to the U.S. healthcare system and encourage greater long-term investment.

“As investors in lifesaving medical devices, venture capital investors have a unique and valuable perspective on the regulatory approach to reimbursement policies that can encourage innovation and advance our healthcare system,” said Bobby Franklin, President and CEO of NVCA. “Implementing the MCIT pathway will provide immediate benefits through delivery of transformative new products and make significant progress towards increased healthcare innovation. We strongly support the MCIT pathway and encourage CMS to move forward with implementation without further delay.”

You can read NVCA’s letter of support to CMS here.

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About National Venture Capital Association

The National Venture Capital Association (NVCA) empowers the next generation of American companies that will fuel the economy of tomorrow. As the voice of the US venture capital and startup community, NVCA advocates for public policy that supports the American entrepreneurial ecosystem. Serving the venture community as the preeminent trade association, NVCA arms the venture community for success, serving as the leading resource for venture capital data, practical education, peer-led initiatives, and networking. For more information about NVCA, please visit www.nvca.org.