Expedited Coverage for Medical Technologies Will Drive Healthcare Innovation
FOR IMMEDIATE RELEASE
October 15, 2021
Contact: Sabrina Fang
WASHINGTON, DC – The National Venture Capital Association strongly urges the Centers for Medicare and Medicaid Services (CMS) to expedite coverage for innovative medical technologies by prioritizing reforms to the reimbursement process. The existing reimbursement policy and the uncertainty that follows approval of new medical products has led to the decline in medical device investment over the years as a share of overall venture activity.
“Now is the time to encourage venture investors and startups to make bold advancements in life-changing treatments and cures,” said NVCA President and CEO Bobby Franklin. “The proposed rule to repeal the MCIT pathway is disappointing. We need CMS to prioritize establishing a revised framework for innovative medical technologies.
“An expedited coverage pathway has the potential to bring major improvements to the U.S. healthcare system, including encouraging greater long-term investment and providing immediate benefits for the Medicare population through transformative new products.”
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 U.S. 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.