FOR IMMEDIATE RELEASE
November 2, 2020
Contact: Cassie Ann Kiggen
WASHINGTON, DC – The National Venture Capital Association (NVCA) today expressed its strong support to the Centers for Medicare & Medicaid Services’ (CMS) proposal to establish the Medicare Coverage of Innovative Technology (MCIT) pathway. The MCIT would create a new coverage pathway for FDA-designated breakthrough devices, which would significantly improve the complex process of bringing innovative medical products to market. Venture investment in medical devices has decreased as a percentage of overall venture capital. Many medical device investors attribute this decline to the reimbursement landscape.
“On behalf of the entrepreneurial ecosystem, we thank CMS for recognizing the need to create a more effective system for bringing innovative, new medical devices to market,” said Bobby Franklin, President and CEO of NVCA. “Advancement of medical innovation is a priority we share to improve the lives of patients and overall healthcare opportunities. NVCA strongly supports the establishment of the MCIT pathway and appreciates the opportunity to share the views and recommendations of the venture capital and startup ecosystem. We look forward to seeing these impactful changes implemented.”
Read NVCA’s full comment letter here.
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.