MASSDEVICE ON CALL — Medical device lobbying group AdvaMed unveiled its 2013 agenda, highlighting its efforts to "double down" on efforts to repeal the 2.3% medical device tax that took effect at the start of the year.
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.
MASSDEVICE ON CALL — Weight-loss surgery as a means of controlling or even curing Type II diabetes topped the list for Cleveland Clinic’s medical innovations to watch in 2013.
Bariatric surgeries alter the shape of the stomach or digestive tract in order to induce weight-loss.
MASSDEVICE ON CALL — Healthcare reporting service Becker’s Spine Review noted 9 areas of innovation to watch in the post-Affordable Care Act age, chief among them the move from internal medical device development at big companies to entrepreneurial manufacturing.
Also on the list of hotspots was a surge in European regulatory wins for new medical devices, an expanding market in China and more device makers looking at Brazil as an attractive market.
The Chinese medical device market may triple by 2018, partially due to high rates of tobacco consumption and a rapidly growing economy, according to a market report.
MASSDEVICE ON CALL — The U.S. Government accused 2 Florida radiation oncologists and a group of treatment centers of defrauding state and government health programs for more than $3.5 million by conducting unnecessary procedures and lying about them.
Since at least December 2007 and continuing through October 2011 the defendants allegedly billed Medicare and other health services for "unreasonable, unnecessary, or medically improper radiation diagnosis treatments provided to patients without complying with the regulations, protocols, and requirements for reimbursement."
Abiomed (NSDQ:ABMD) is slated to win a reimbursement code for procedures involving its Impella heart pump, according to analysts at Piper Jaffray.
In a summary of recent editorial panel decisions, the American Medical Assn. revealed that the panel approved the Society for Cardiovascular Angiography and Interventions’ proposal for the reimbursement code, according to theflyonthewall.com.
MASSDEVICE ON CALL — Sanovas is expanding its corporate headquarters and opening a manufacturing facility in Sausalito, Calif. as it prepares to file for FDA clearance for its drug-delivery technology.
The company’s micro-surgical technologies feature what Sanovas calls the world’s smallest surgical camera to access hard-to-reach areas of the body and provide minimally invasive diagnosis, treatment and drug delivery, according to a press release.
Orthopedic technology company Small Bone Innovations Inc. landed a $43 million loan to further sales of its flagship ankle replacement device.
The New York-based company plans to use the credit facility as working capital to drive U.S. growth of its Star total ankle replacement, a non-cemented implant designed to replace arthritic ankle joints in patients with osteoarthritis, post-traumatic arthritis or rheumatoid arthritis.
The system is currently the only mobile-bearing total ankle replacement approved for the U.S. market.
MASSDEVICE ON CALL — The top ten med-tech innovations of 2012, selected by Cleveland Clinic and announced this week spanned the range of health care from detection to treatment to data management.
In the top spot was a system of renal denervation for treatment of high blood pressure. The procedure uses a catheter probe threaded into the renal artery near the kidneys to delivery low-power radio-frequency energy and disrupt nerves, lowering blood pressure.