Compliance In Focus

No matter the therapeutic area, device companies agree: Creating cutting-edge products is expensive. From the R&D costs to the pricy FDA fees, the expense for innovation adds up quickly. As products become more technologically advanced, the cost for designing new devices has increased. At the same time, device companies are being hit with fees that are wiping out their R&D budgets, such as the 2.3% medical device tax, which reportedly requires companies to collectively pay an estimated $194 million per month.

There has been much debate regarding how the proposed 2.3% medical device tax will harm the industry.  There have been arguments that the increased levy will push jobs and trials overseas, there also has been much talk over the hidden costs in the Medical Device Tax.   Overall there has been a consistent message linked to articles we’ve read about the tax- claims this will cost jobs and slow industry innovation.