dismiss

Mark your calendars: the next Clean Sweep Live Auction will be on Thursday, January 25th--Click to view the full catalogue

DOTmed Home MRI Oncology Ultrasound Molecular Imaging X-Ray Cardiology Health IT Business Affairs
News Home Parts & Service Operating Room CT Women's Health Proton Therapy Endoscopy HTMs Mobile Imaging
SEARCH
Current Location:
>
> This Story

starstarstarstarempty star (4)
Log in or Register to rate this News Story
Forward Printable StoryPrint Send us your Comments

 

 

More Industry Headlines

Hit with $6.2 billion charge, GE considering major shake-ups CEO Flannery 'deeply disappointed' and weighing all options

Ultrasound-based technology may be able to treat cancer Can it replace radiotherapy one day?

RaySearch to supply TPS for Japanese carbon-ion therapy facility First RayStation carbon ion installation in Japan

Philips launches suite of patient monitoring solutions for U.S. market Designed to ensure complete data acquisition to protect patient safety

Mount Nittany Health selects Carestream technology in switch to DR Hospitals that use CR will face 7 percent payment cut this year

Siemens Healthineers lays out cost-cutting strategy ahead of IPO Future plans call for changes saving almost $300 million annually

Global health and medical insurance providers market to hit $1.6 trillion by 2020 Major driving force is the growing elderly population

Researchers develop PET tracer that can measure damage caused by MS Offers advantages not found with conventional MR

MITA and others call for long-term solution to medical device tax First payment under tax is due by January 29

The New York Times moly-99 report: 6 takeaways Insights from several experts on the delicate moly-99 supply chain

Rep. Erik Paulsen is on the medical
device industry's side

Minnesota Congressman Aims to Repeal Medical Device Tax

by Brendon Nafziger , DOTmed News Associate Editor
A Minnesota congressman introduced legislation on Wednesday hoping to overturn a $20 billion excise tax on medical device companies included in the health reform bills.

Congressman Erik Paulsen (R-MN), co-chair of the House Medical Technology Caucus, says he has 26 co-sponsors for the bill, the Defend Medical Innovation Act, according to a notice posted on his campaign website.

Story Continues Below Advertisement

Streamline Your Radiology Workflow with RamSoft's PowerServer RIS/PACS

The PowerServer RIS/PACS is a single database application, essential to reducing redundant work, limiting manual data entry, and increasing consistency throughout healthcare practices. Click to learn how it will help you improve patient care and more.



"Minnesota is one of the largest medical device alleys in the country, with tens of thousands of jobs in the sector. We can't afford lost jobs or stifled innovation," Paulsen wrote on his website in March.

Tucked into the health care bills, the 2.3 percent tax levied against medical device companies begins in 2013, and is set to raise $20 billion over the next ten years to help defray some of health reform's expected $940 billion cost.

Opponents of the tax say it will crush potentially innovative small companies and start-ups struggling to generate revenue, and that the medical device industry will already be hit by reductions in payment to hospitals and cuts to Medicare imaging reimbursements.

The current tax is half as steep as the one called for by earlier versions of the health bills, which would have raised $40 billion and started in 2011. It is also deductible from corporate taxes.

This is an election year for Paulsen, a freshman congressman from Minnesota's 3rd district, representing the western suburbs of the Twin Cities area, who claims to have raised about $1.5 million so far for his campaign, an order of magnitude more than his main rival, Jim Meffert of the Democratic-Farmer-Labor party.

Minnesota is a medical device manufacturing hub, and home to such industry giants as Medtronic and St. Jude. According to the Center for Responsive Politics, through PACs, employees or shareholders at Medtronic, St. Jude and Boston Scientific have all made small donations to Paulsen's campaign.

According to government figures, the medical device industry employs more than 350,000 people across the United States. In 2006, there were 8,500 device firms in the U.S.; production exceeded $90 billion.

Related:


Advertise
Increase Your
Brand Awareness
Auctions + Private Sales
Get The
Best Price
Buy Equipment/Parts
Find The
Lowest Price
Daily News
Read The
Latest News
Directory
Browse All
DOTmed Users
Ethics on DOTmed
View Our
Ethics Program
Gold Parts Vendor Program
Receive PH
Requests
Gold Service Dealer Program
Receive RFP/PS
Requests
Healthcare Providers
See all
HCP Tools
Jobs/Training
Find/Fill
A Job
Parts Hunter +EasyPay
Get Parts
Quotes
Recently Certified
View Recently
Certified Users
Recently Rated
View Recently
Certified Users
Rental Central
Rent Equipment
For Less
Sell Equipment/Parts
Get The
Most Money
Service Technicians Forum
Find Help
And Advice
Simple RFP
Get Equipment
Quotes
Virtual Trade Show
Find Service
For Equipment
Access and use of this site is subject to the terms and conditions of our LEGAL NOTICE & PRIVACY NOTICE
Property of and Proprietary to DOTmed.com, Inc. Copyright ©2001-2018 DOTmed.com, Inc.
ALL RIGHTS RESERVED