LAB Act Passage a Critical Step Forward for Diagnostic Sector of Medtech Industry
WASHINGTON, D.C. – AdvaMed President and CEO Scott Whitaker and AdvaMedDx Executive Director Susan Van Meter issued the following statements upon congressional passage of the Laboratory Access for Beneficiaries (LAB) Act as part of the broader government funding agreement expected to be signed into law this week by President Trump:
Passage of the bipartisan LAB Act is great news for patients, and we thank Congress for passing this important legislation,” said Scott Whitaker, president and CEO of AdvaMed. “The LAB Act takes the diagnostic sector of the medtech industry a big step closer to a more realistic reimbursement system, which ultimately will allow these innovators to continue improving our ability to diagnose and treat patients in need.”
“Supported by diagnostics manufacturers and laboratories alike, the LAB Act will improve the accuracy of Medicare reimbursement rates for clinical diagnostic laboratory services,” said Susan Van Meter, executive director of AdvaMedDx. “These provisions will improve implementation of lab test reimbursement reforms under the Protecting Access to Medicare Act of 2014 (PAMA), and are a critical step toward ensuring appropriate payment for innovative diagnostics that save and improve peoples’ lives.
“We commend Reps. Scott Peters (D-Calif.), Gus Bilirakis (R-Fla.), George Holding (R-N.C.), Richard Hudson (R-N.C.), Bill Pascrell, Jr. (D-N.J.), and Kurt Schrader (D-Ore.), the original cosponsors, for championing this bipartisan legislation, which will support continued innovation in diagnostic technologies that today are advancing more quickly than ever to serve a growing population of patients and address a growing list of diseases,” Van Meter said.
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AdvaMed member companies produce the medical devices, diagnostic products and health information systems that are transforming health care through earlier disease detection, less invasive procedures and more effective treatments. AdvaMed members range from the largest to the smallest medical technology innovators and companies. For more information, visit www.advamed.org.
AdvaMedDx member companies produce innovative, safe and effective in vitro diagnostic tests that facilitate evidence-based medicine, improve quality of patient care, promote wellness, enable early detection of disease and reduce overall health care costs. Functioning as an association within AdvaMed, AdvaMedDx is dedicated to the issues facing in vitro diagnostic companies both in the United States and abroad. For more information, click here.