The U.S. Healthcare Reimbursement Model is Killing Medtech Innovation

broken-bulbThe way healthcare in the United States is delivered, including what goods and services get paid for, is undergoing unprecedented change thanks to factors ranging from the Affordable Care Act to provider consolidation. But one thing that hasn’t changed much and isn’t likely to anytime soon is who pays for our healthcare. Unless voters elect Bernie Sanders—the only 2016 presidential candidate advocating a single-payer national healthcare system—to the White House come November, the third-party payer system is probably here to stay.

Critics argue that this model is responsible for giving the United States the dubious distinction of having some of the highest healthcare costs in the world. In fact, the United States spent more per capita on healthcare—$9086—in 2013 than 12 other high-income countries, including France, Switzerland, Germany, Australia, and Canada, according to a report from the Commonwealth Fund. Yet despite throwing all that money around, we also have the lowest life expectancy and some of the worst health outcomes among the other relatively wealthy nations studied.

I would argue that the third-party payer system also hurts Americans in another way: It’s holding back medtech innovation.

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About Peter Coffaro 1439 Articles
A growth-driven and strategic executive, Peter Coffaro commands more than 20 years of progressive management success within the medical device industry. As a District Sales Manager for Stryker Orthopaedics, Peter was responsible for managing and directing a regional sales force to achieve sales and profit goals within the Rocky Mountain region. Previously, he was the Director of Sales & Marketing for Amp Orthopedics. In this role, Peter was responsible for planning, developing, and leading all sales and marketing initiatives. Peter is a former orthopedic distributor in the Pacific Northwest. He has also worked with DePuy Orthopaedics as well as Zimmer, and held positions in sales, sales training, and sales management. Peter has an extensive background in organizational development, business development, sales management, negotiating and P&L management. Peter holds a B.S. degree in Biology from Northern Illinois University.

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