All Clarivate Analytics websites use cookies to improve your online experience. They were placed on your computer when you launched this website. You can change your cookie settings through your browser.

More information on our cookie policy.

BioWorld. Link to homepage.

/images/Cortellis_Flagship_Logo_TM_RGB_Color.png
  • BioWorld
  • BioWorld MedTech
  • BioWorld Asia
  • BioWorld Science
  • Data Snapshots
    • BioWorld
    • BioWorld MedTech
  • Special reports
    • Artificial intelligence
    • Coronavirus
    • Diagnosing and tracking COVID-19
    • Drugs to Watch 2020
    • The next pandemic
    • Premium reports
      • BioWorld Financings Reports
      • Disease Forecast Reports

BioWorld. Link to homepage.

  • Sign In
  • Sign Out
  • My Account
Subscribe
BioWorld - Sunday, March 7, 2021
Home » Blogs » BioWorld MedTech Perspectives » The medical device tax is coming

BioWorld MedTech Perspectives
BioWorld MedTech Perspectives RSS FeedRSS

BioWorld MedTech

The medical device tax is coming

Jan. 17, 2012
By Omar Ford
No Comments

My wife and I are very cautious when we spend. Every penny is accounted for, and every surprise is documented. With a new baby in the household - we cannot afford any surprises that could possibly lead to longterm extra expenses.

It's an interesting position that we find ourselves in - a position that isn't so different from what small med-tech companies have stated they're facing with the upcoming med-device tax.

Already, we've seen Stryker send a loud message to the industry, by announcing a reduction of 5% of its staff. Aanalysts are saying that we could see more companies following suit in the near future.

Here's where it gets tricky. Should med-tech companies pay this extra tax? Supporters of the tax say that it could add up to $20 billion in revenue over a 10 year period - when applied across the entire healthcare landscape.

But industry groups who oppose the tax say it could be much better spent by medical device manufacturers researching new products that would go a long way towards reducing the costs of medical care.

Legislators are simply asking med-tech firms to pay their fair share. Med-tech firms are asking legislators not to cripple an industry that's effectively working.

You must login or register in order to post a comment.

Report Abusive Comment

Popular Stories

  • Free access to BioWorld coronavirus articles

    BioWorld

    The articles in this collection are from BioWorld’s ongoing coverage of the COVID-19 coronavirus outbreak. Note that we have added three critical tables which are...

  • Today's news in brief

    BioWorld
    BioWorld briefs for March 5.
  • Gloved hand places sample tubes in PCR system

    COVID-19 test makers are adapting for variants

    BioWorld MedTech
    As COVID-19 variants have emerged, so have questions about the effectiveness of tests for infection. While the risk of mutations significantly limiting their...
  • Today's news in brief

    BioWorld MedTech
    BioWorld MedTech's briefs for March 5.
  • Coronavirus vaccine/therapeutics illustration

    Tonix looks to the past for the future of COVID-19 vaccines and testing

    BioWorld MedTech
    Tonix Pharmaceuticals Holding Corp. is looking to lessons from tuberculosis and smallpox to guide its future in infectious diseases. The company is developing an...
cortellis ad

BioWorld Premium

Enjoy extended coverage for the most complete market view with BioWorld, BioWorld MedTech, and BioWorld Asia in a single, easy to access subscription.

Subscribe
  • BioWorld
    • Today's news
    • Analysis and data insight
    • Clinical
    • Data Snapshots
    • Deals and M&A
    • Financings
    • Newco news
    • Opinion
    • Regulatory
    • Science
  • BioWorld MedTech
    • Today's news
    • Clinical
    • Data Snapshots
    • Deals and M&A
    • Financings
    • Newco news
    • Opinion
    • Regulatory
    • Science
  • BioWorld Asia
    • Today's news
    • Analysis and data insight
    • Australia
    • China
    • Clinical
    • Deals and M&A
    • Financings
    • Newco news
    • Regulatory
    • Science
  • BioWorld Science
    • About
    • Archives
    • Today's news
    • Search BioWorld Science
  • More
    • About
    • Archives
    • Article reprints and permissions
    • Contact us
    • Cookie policy
    • Copyright notice
    • Data methodology
    • Privacy policy
    • Share your news with BioWorld
    • Staff
    • Terms of use
A Clarivate Analytic solution. Link to Clarivate website.
Follow Us

Copyright ©2021. All Rights Reserved. Design, CMS, Hosting & Web Development :: ePublishing