MASSDEVICE ON CALL — The U.S. Internal Revenue Service should have its hands full in dealing with implementation of the new taxes and rules contained in the Affordable Care Act.
The federal agency must handle more than 40 changes to the tax code as well as make sure appropriate recipients get new tax credits and individuals and businesses pay penalties for any non-compliance.
Included among those new laws is the 2.3% medical device sales tax slated to take effect January 1, 2013, which industry stakeholders are actively lobbying against.
The IRS has said its ready to tackle the new laws, but some are concerned that the agency isn’t prepared to manage the potentially gargantuan task.
"They’re going to be very strained," former IRS commissioner Mark Everson told Politico. "The main thing is the vast amount of information required for the IRS to collect and dispense. (…) There’s a lot of complexity to it."
This year’s doc fix tab up to $25 billion
The annual scramble to come up with a "doc fix" to fend off cuts to Medicare reimbursement to physicians will cost $25 billion for 2013, amounting to almost $7 billion more than the measure’s cost for the last year.
Welcoming a supercomputer to Cleveland Clinic
Cleveland Clinic Education Institute director Dr. James Stoller talks about forging a relationship between high-tech and advanced medicine in bringing IBM’s Watson supercomputer into a medical clinic.
Mauna Kea teams up with Edinburgh U.
Endomicroscopy company Mauna Kea Technologies teamed up with University of Edinburgh to develop a new optical biopsy system to diagnose and monitor lung disease.
On June 4-5, DeviceTalks Minnesota is taking over the Twin Cities medtech industry with one of the most anticipated conferences of the spring.
Join leaders from 3M, Abbott, Bigfoot Biomedical, Boston Scientific, Cardionomic, CMF Solutions, Cyient, Google Mayo Clinic, Medical Alley, Medtronic, NxThera, Opus College, Relievant Medsystems, University of Minnesota, Star Tribune, Smith & Nephew, Spry Health, Zimmer Biomet and many more when you register today.
Use the code "DTWeb" to save 15% on the cost of registration.