Posted on 09/17/2012 8:55:45 AM PDT by Sopater
Cost-cutting moves by medical device companies have resulted in the loss of more than 2,000 jobs over the past 2 months.
Medical device companies are molting at a reptilian rate, shedding more than 2,000 jobs over the past 2 months as they look to slash costs across the board.
Several of the med-tech companies that are scrapping jobs say the 2.3% medical device excise tax in the Patient Protection and Affordable Care Act, slated to begin in January 2013. Others deny that the tax is the sole cause of their moves, saying it's a factor but not determinative.
Seven medical device companies have announced restructuring plans involving layoffs since July 13
(Excerpt) Read more at massdevice.com ...
Right. I'm sure the demand for medical devices is declining.
I hate Obama beyond words. L
We definitely need to re-elect BH0 so that we can apply to countries we’ve given foreign aid to return the money because the great leader needs it.
Obamacare is working!!!!!!!..........
Democrats told us the primary purpose of the vaunted Patient Protection and Affordable Care Act was to reduce the cost of healthcare.
Imposing new taxes on medical devices is certainly an odd way of reducing costs, however.
So where are the jobs going China?
Probbly the most cold-blooded, stupid thing I have ever heard of is taxing the handicapped for their wheelchairs , walkers, & potty chairs.
Obama’s made up war against women is nothing compared to Obama’s war against the handicapped, the aged, the infirm.
Does America really need the monay so badly we tax those already in trouble because of failing health?
Nancy —is this what you meant when you said pass it to find out what is in it?
“So where are the jobs going China?”
No, they are going to Obamapurgatory. They will either go to China or come back home depending upon the outcome of the November 6 election.
“So where are the jobs going China?”
No, they are going to Obamapurgatory. They will either go to China or come back home depending upon the outcome of the November 6 election.
“So where are the jobs going China?”
No, they are going to Obamapurgatory. They will either go to China or come back home depending upon the outcome of the November 6 election.
Oops, sorry - double clicked.....
They are just preparing for the onslaught of the "medical care for all" that is coming just around the corner.
It's good to see that someone in the industry is preparing for the hoards of people that will "cash in" on their free health care.
I would think the device manufacturers would move abroad to avoid all the endless lawsuits here.
Let’s not Obamanos.
Companies who purchase their products either for resale or for use in their facilities have the tax passed on to them in the form of higher device prices, and ultimately those end users or beneficiaries have these incremental costs passed along to them.
Sizable segments of the industry won't be able to absorb the hit and therefore be unable to sustain their former full employment levels due to decreased demand. This can, and almost certainly will, cascade into higher insurance premiums across the board for consumers/patients as costs are distributed among third party payors' subscriber base. Of course, higher copays are implied.
Also, to the extent these costs cannot or do not pass directly though, expect to see stepped up rationing; a different kind of cost.
Bottom line is these taxes don't exist in a vacuum (without consequences) unless you're referring to the academics/bureaucrats' minds who dreamed up this scheme.
400 of these companies are in MA. Guess which Senate candidate doesn’t care if they leave?
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