MASSDEVICE ON CALL — The 1st payments for the 2.3% medical device tax which took effect this year are due at the end of the month, and the burden of those new fees will "absolutely, directly, negatively influence job growth," BioMimetic Therapeutics founder Sam Lynch told reporters.
""The challenge of the tax is that it’s on revenue, not earnings, so for companies that might not be profitable already, it will hit harder," Lynch told the Nashville Biz Blog.
The tax took effect at the start of the year over the objections of the largest lobbying groups in the medtech industry, but the fight is not over.
North Star State legislator Sen. Al Franken conceded that repealing the tax will be more difficult now that it has taken effect, but he’s not giving up the fight.
"You’d be naive to say [implementation of the tax] doesn’t make it harder [to repeal]," Franken told the Star Tribune. "But I want to meet with folks from the industry here in the state and talk about different ways of … providing evidence that this [tax] might be counterproductive."
Deadline passes for off-label marketing free speech rehearing
Federal regulators opt not to ask for a review of a U.S. Second Circuit Court of Appeals decision to protect a drug salesman’s off-label marketing as free speech.
Medical errors cost about $65M per year in liability payouts
Errors in the operating room occur about 80 times per week and cost about $1.3 billion in liability settlements over the course of 20 years, according to data collected from the National Practitioner Data Bank.
57k medical records exposed in children’s hospital theft
A laptop stolen from a pediatric physician’s care may have exposed 57,000 medical records containing names, dates of birth, medical histories and other information that doesn’t include social security numbers or credit card numbers.