Medtech: A great value in American health care
In this op-ed published in The Washington Times, AdvaMed® President and CEO Scott Whitaker explains why policymakers seeking to lower health care costs should look closely at the value medtech delivers every day. The right diagnostic test, implant, monitor or digital tool can help clinicians find disease earlier, treat patients more precisely and prevent the costly, late-stage complications that drive up spending for Medicare, Medicaid, employers, and families alike.
From AI-assisted mammography detecting more cancers earlier to continuous glucose monitors helping patients with diabetes avoid the emergency room and stents adding years of life, the evidence is overwhelming. This value comes at a remarkably steady cost. Medtech accounts for less than 6 percent of national health spending, and prices for medical equipment have risen far more slowly than overall medical costs since 2000.
As Washington considers how to lower health care costs while improving quality, Whitaker makes the case that medtech should be an essential part of the answer.