Wednesday, October 26, 2011
About that medical device
There is a new wave of well funded lobbyists working to undo government regulations designed to protect the public. This time they are working on regulations for medical devices. These include everything from pacemakers & artificial joints to diagnostic equipment.
Lobbying to smooth the approval process has intensified over the last year as Congress prepares to reauthorize the law that requires device producers to pay fees to the F.D.A., fees that are used to pay the agency’s operating costs. Lawmakers have an opportunity to alter the agency’s regulatory procedures for the first time since the law last came up for renewal in 2007.A major impetus for deregulation is coming from the investors in the latest high tech, high cost doodad. If they can get a quick and superficial approval, they can recoup their monies long before the public learns that the doodad is useless or harmful. And doctors and hospitals don't cover the cost of make-good operations, you do.
An industry lobbying group, the National Venture Capital Association, has intensified its focus on device regulation. In 2010, the association, which lobbies on many issues, spent more than $2.5 million, according to data from the nonpartisan Center for Responsive Politics. About $350,000 of that was related to devices, drugs and health care, a figure that is expected to increase to $450,000 this year, said an association spokeswoman, Emily Mendell.
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