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Medical device tax could crimp long-term care supplies, hike cost, dampen innovation, expert says
McKnight's Long Term Care News & Assisted Living ^ | November 20, 2012 | Staff

Posted on 11/21/2012 1:12:46 PM PST by 2ndDivisionVet

A medical device excise tax scheduled to hit Jan. 1 is causing uncertainty among manufacturers and providers, a healthcare expert said Monday.

The 2.3% tax will be on sales of FDA-approved devices that are used by a physician or in a physician's office. It's intended to generate $20 billion over the next several years, which is expected to offset some healthcare reform costs.

While types of devices affected by the tax include pacemakers and stents, it also can include surgical gloves or wheelchairs, which could mean complications for long-term care providers purchasing those items. It also could cause some companies making devices for the post-acute and acute sectors to slow down on their innovation, believes John McLean, the vice president and co-leader of the Life Sciences Practice at the executive search firm Witt/Kieffer.

“Many of the most exciting innovations in medical device technology come from new, struggling companies that will now be slammed under the weight of this excise tax,” he told McKnight's. “It creates an atmosphere for less innovation and less choice for patients.”

Some medical device manufacturers, such as Medtronic and Boston Scientific, have said that they will be forced to lay off workers...

(Excerpt) Read more at mcknights.com ...


TOPICS: Business/Economy; Government; Health/Medicine; Science
KEYWORDS: obamacare; taxes

1 posted on 11/21/2012 1:12:49 PM PST by 2ndDivisionVet
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To: 2ndDivisionVet
King Obama killed America.
2 posted on 11/21/2012 1:17:14 PM PST by Logical me
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To: 2ndDivisionVet

That’s the plan.


3 posted on 11/21/2012 1:17:18 PM PST by TBP (Obama lies, Granny dies.)
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To: TBP

Effective Jan 1, 2013, aspirin will be taxed under the Obama-Care program.

The explanation was that they are white and they work.

No other reason was given.


4 posted on 11/21/2012 1:19:46 PM PST by UB355 (Slower traffic keep right)
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To: 2ndDivisionVet

Gee, thanks to Obama, when I die again (cardiac arrest 8/2009), his Health Czars can rip my Defibrilator/Pacemaker out of my chest and resell it because, with the new tax, it will be worth between $300-$700 more.

Maybe they’ll also take out the gold in my teeth. Why not? People like them did it to my relatives whom they killed in Belzec and Auschwitz concentration camps.

Nothing has changed except the symbol.


5 posted on 11/21/2012 1:22:33 PM PST by MadMax, the Grinning Reaper
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To: 2ndDivisionVet

What this tax WILL do, is to SUPPRESS the use of and application of these devices and procedures. Therefore, the distribution of these devices will be greatly curtailed, the expected revenue will fall far short, and any future innovation will not be undertaken, as the costs are too great for recovery on investment.

We shall be back to the application of rubbing alcohol and hydrogen peroxide. Aspirin and Tylenol will be outlawed, can’t be using these NSAID’s, you know. Too many complications.

And maybe we shall come to rely on acupuncture or hex-doctor chants as approved therapy.


6 posted on 11/21/2012 1:23:59 PM PST by alloysteel (Bronco Bama - the cowboy who whooped up and widened the stampede.)
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To: 2ndDivisionVet

This is just more of the effort to destroy the culture “that has had it too good for too long”.

Obama isn’t trying to “fix” anything!
He seeks to destroy us!

He is not ignorant, he is evil!


7 posted on 11/21/2012 1:33:07 PM PST by G Larry (Which of Obama's policies do you think I'd support if he were white?)
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To: 2ndDivisionVet
Which is the plan.

The global ruling elite to whom Ubama reports believe that there are too many human beings on the planet who are not related to them.

Do the math.

8 posted on 11/21/2012 1:35:36 PM PST by E. Pluribus Unum (Government is the religion of the psychopath.)
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To: 2ndDivisionVet
"Medical device tax could crimp long-term care supplies, hike cost, dampen innovation, expert says"

What's this "could" crap!?

9 posted on 11/21/2012 1:39:11 PM PST by rockinqsranch (Dems, Libs, Socialists, call 'em what you will, they ALL have fairies livin' in their trees.)
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To: rockinqsranch

What kind of taxes are on medical equipment now?


10 posted on 11/21/2012 1:40:54 PM PST by DonaldC (A nation cannot stand in the absence of religious principle.)
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To: 2ndDivisionVet

Could?

America is now CURSED with death panels
except Moslems and Congress.

Happy Thanksgiving to THEM.


11 posted on 11/21/2012 1:42:20 PM PST by Diogenesis (Vi veri veniversum vivus vici)
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To: Logical me

Medical devices will be cleaned (kind of ) and reused and reused and reused


12 posted on 11/21/2012 1:43:20 PM PST by molson209
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To: E. Pluribus Unum

Last spring I underwent both a hip replacement and a sleep study. I wonder if the tax applies to replacement masks for cpap machines?


13 posted on 11/21/2012 1:43:41 PM PST by Wiser now (Socialism does not eliminate poverty, it guarantees it.)
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To: Wiser now

Obama Admin would recommend you replace the mask with a plastic bag ,oh wait plastic bags are hard to get


14 posted on 11/21/2012 1:51:50 PM PST by molson209
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To: 2ndDivisionVet

A more effective title would be: Taxing the sick.


15 posted on 11/21/2012 1:53:30 PM PST by aimhigh
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To: alloysteel
Tax the rich, death tax, tax the weather (Globull warming)tax unhealthy food and now tax the sick! What is next?
16 posted on 11/21/2012 1:56:38 PM PST by spudville
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To: 2ndDivisionVet
The 2.3% tax will be on sales of FDA-approved devices that are used by a physician or in a physician's office. It's intended to generate $20 billion over the next several years, which is expected to offset some healthcare reform costs.

Wow. Let us raise the cost of medical care to offset the raised costs of medical care.
17 posted on 11/21/2012 1:59:47 PM PST by PA Engineer (Liberate America from the Occupation Media.)
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To: DonaldC

I don’t know the details of the current tax system of that industry, however I’ve never read complaints in news articles posted of the existing taxation contrary to that which will become effective with the forthcoming PPACA law.

This article outlines only a few of the new taxes on medical devices in the new law. Perhaps only because so many of the other taxes are shared by many industries.

Don’t forget about the BIG one coming soon, and I don’t mean the end of the Bush era tax cuts, but the VAT the Democrats are also working on. THAT will come along soon enough.


18 posted on 11/21/2012 2:04:43 PM PST by rockinqsranch (Dems, Libs, Socialists, call 'em what you will, they ALL have fairies livin' in their trees.)
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To: MadMax, the Grinning Reaper

My son’s insulin pump is also affected. There are thousands of children with this disease that rely on this pump to keep them alive all day, every day.

Obama doesn’t care.


19 posted on 11/21/2012 3:33:38 PM PST by Marie ("The last time Democrats gloated this hard after a health care victory, they lost 60 House seats.")
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To: Marie

Take good care of your son. Screw Obama.

However, you have just created the greatest description of Obamacare in one word, “OBAMADOESNTCARE”

Spread the word. I will.


20 posted on 11/21/2012 3:37:37 PM PST by MadMax, the Grinning Reaper
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To: 2ndDivisionVet
"Gee, who coulda seen that one coming?"

Love, everyone*

* except for the slim majority wanting four more years.

21 posted on 11/21/2012 3:46:31 PM PST by NonValueAdded ("Our president ... makes big speeches packed full of little ideas" Charles C. W. Cooke)
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To: Marie
Obama doesn’t care.

Actually, Obmama and his evil, sadistic comrades in govt willfully and with great pleasure desire to bring pain and death to others.

This administration is fill with truly evil people.

22 posted on 11/21/2012 7:34:59 PM PST by sand88
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