A report released by the Advanced Medical Technology Association, or AdvaMed, seeks to dispel assertions that the growing use of implantable devices and high-tech diagnostics in treating patients is a significant medical-cost driver that needs tighter, more judicious constraints.
The role of medical technology in (healthcare) price increases indicate that medical devices and advanced diagnostics are highly competitive costwise, said Michael Mussallem, chairman of trade groups payment and healthcare-delivery committee and chairman and chief executive officer of cardiovascular devicemaker Edwards Lifesciences, during a news conference review of the findings.
According to the study, medical-device pricing between 1989 and 2004 increased at an annual rate of 1.2% compared with a 5% increase in the medical consumer price index and 2.8% for the overall consumer price index.
The report also pointed out, however, that overall spending on medical devices during that same period increased at a higher rate, 8.1%, than overall national health expenditures, which increased 7.4%. -- by Shawn Rhea
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