MassDevice

The Medical Device Business Journal — Medical Device News & Articles | MassDevice

Home » CBO to Paul Ryan: Repealing Obamacare will increase deficit | MassDevice.com On Call

CBO to Paul Ryan: Repealing Obamacare will increase deficit | MassDevice.com On Call

By

MassDevice On Call

MASSDEVICE ON CALL — The Congressional Budget Office is looking to pour cold water on Republican attempts to repeal the Patient Protection & Affordable Care Act in advance of today’s vote in the U.S. House of Representatives.

In a letter to Rep. Paul Ryan (R-Wis.), CBO director Doug Elmendorf warned the former vice presidential hopeful that repealing the landmark healthcare law would result in "a net increase in budget deficits of $109 billion over the 2013-2022 period."

Ryan had requested the CBO provide an updated estimate of expenses associated with repealing Obamacare on Thursday, but Elmendorf warned that there was simply no time for such an endeavor.

Sign up to get our free newsletters delivered straight to your inbox

"Preparing a new estimate of the budgetary impact of repealing the Affordable Care Act would take considerable time – probably several weeks – for CBO and the staff of the Joint Committee on Taxation, because there are hundreds of provisions in the ACA and those provisions are already in various stages of implementation," he wrote. "Moreover, we have just finished the time-consuming task of updating our baseline budget projections and need to finish our analysis of the President’s budgetary proposals."

Thursday’s vote on Capitol Hill will mark be the 37th time that Republicans have sought to repeal or strip funding of the ACA, according to The Hill.

Docs transforming practices as healthcare landscape shifts
Doctors are changing how they work in response to turmoil in the healthcare system, responding to economic uncertainty and sharpening demands from the government and insurers to improve quality while curbing costs.
Read more

Medicare fraud strike force charges 89 in $223M in false billing bust
Attorney General Eric Holder and Health & Human Services Dept. secretary Kathleen Sebelius announced a nationwide takedown by Medicare Fraud Strike Force operations in 8 cities resulted in charges against 89 individuals, including doctors, nurses and other licensed medical professionals, for alleged participation in Medicare fraud schemes involving roughly $223 million in false billings. 
Read more

Shuren: No more CDRH ‘Columbo moments’
The FDA’s medical device chief, Dr. Jeffrey Shuren, told attendees of the Medtech Investing conference in Minneapolis last week that the watchdog agency’s Center for Devices & Radiological Health is looking to eliminate "Columbo moments," or last-minute demands or changes during the medical device review process.
Read more

In case you missed it

RSS From Medical Design & Outsourcing

  • Henry Schein investors push back on executive pay
    Nearly half of Henry Schein (Nasdaq:HSIC) shareholders who voted at this month’s annual meeting voted against the company’s pay packages for top executives, according to a new SEC filing. About 48.5% of voting shareholders voted against the company’s executive pay plan in what’s known as the Say-on-Pay vote, according to vote results of the May… […]
  • Creo Medical inks collaboration agreement with Intuitive
    Creo Medical Group (LON: CREO) announced today that it has signed a multi-year collaboration agreement with Intuitive to make certain Creo surgical technologies compatible with the surgical robotic giant’s systems. The London exchange reacted by sending CREO shares up more than 4% to 100 pence apiece by the close of trading today. As of midday… […]
  • MedTrace Pharma moves forward on 15 O-water imaging tech
    MedTrace Pharma announced the first person scanned in its Rapid-Water-Flow Phase 3 clinical trial, further testing its tech to bring 15 O-water to imaging. The first subject scan took place at Aarhus University Hospital in Denmark, using 15 O-water produced, dosed and injected through MedTrace’s P3 automated delivery system. The clinical trial aims to evaluate… […]
  • Zimmer Biomet narrowly avoids shareholder rebuke on executive pay
    An unusually large share of Zimmer Biomet (NYSE:ZBH) investors voted against the orthopedics company’s pay packages for top executives at the annual shareholder meeting. About 54% of voting shareholders supported the pay packages of the company’s five top-paid executives at the May 13 meeting, according to results filed with the SEC yesterday. In 2021, nearly 93%… […]
  • BD, Mitsubishi Gas Chemical partner on better materials for plastic syringes
    BD (NYSE:BDX) announced that it partnered with Mitsubishi Gas Chemical Company on applying new technology to pre-fillable syringes. MGC develops the Oxycapt technology designed to integrate the best of plastic and glass for plastic syringes. BD and Tokyo-based MGC will work together to apply Oxycapt technology to the next generation of pre-fillable syringes (PFS) for advanced… […]
  • Ambu replaces CEO with new leadership
    Ambu today said it has hired board member Britt Meelby Jensen to replace CEO Juan Jose Gonzalez, effective tomorrow. “Since Juan Jose Gonzalez joined as CEO in 2019, Ambu has made good progress and achieved important milestones on the strategic transformation into the world’s largest single-use endoscopy company,” Ambu Chair Jørgen Jensen said in a… […]
  • AdvaMed joins Biden’s Joint Supply Chain Resilience Working Group
    AdvaMed executive Abby Pratt has joined the executive committee for the Biden administration’s Joint Supply Chain Resilience Working Group, the medtech industry association said today. The working group’s members from government and industry will assist with implementation of the National Strategy for a Resilient Public Health Supply Chain. Pratt oversees supply chain issues as SVP… […]
  • Toray develops new stretchable film for medical devices
    Toray Industries has a new stretchable film based on its proprietary polymer Reactis technology, with potential applications that include robotics and biological and industrial sensors. Tokyo-based Toray said it shipped samples to customers and plans research and development efforts to commercialize the new grade of film. “Recent years have increased the potential for developing stretchable… […]
  • Google Health hires FDA’s chief digital health officer
    Former FDA Chief Digital Health Officer of Global Strategy and Innovation Bakul Patel has started a new job with Google after 13 years with the regulatory agency. Patel became senior director, global digital health strategy and regulatory for Google Health earlier this month, he said on LinkedIn. Patel recounted highlights of his “incredible journey since… […]
  • Expect more heart and lung failure years after COVID, Abbott’s heart failure CMO says
    Two years into the COVID-19 pandemic, we know more than ever about the SARS-CoV-2 virus and how quickly it moves to ravage the human body. What remains to be seen is how the virus — and perhaps more importantly, our immune system’s response to it — will affect the health of people long after infection,… […]
  • FDA moves forward with Voluntary Improvement Program to bolster medical device quality
    Kathryn Burke, Emergo Group The U.S. Food and Drug Administration has issued new draft guidance to establish a full-blown voluntary program for improving quality-related processes in medical device manufacturing following promising results of a pilot program. The FDA guidance stems from a pilot undertaken by the agency along with the Medical Device Innovation Consortium (MDIC) in 2018.… […]

Leave a Reply