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Home | County, State and Federal Government | King Fights for Hospitals; Presses Companies to Disclose Medical Device Prices

King Fights for Hospitals; Presses Companies to Disclose Medical Device Prices

WASHINGTON, D.C. – In response to an attempt to repeal the Medical Device Tax that helps fund the Affordable Care Act, U.S. Senator Angus King (I-Maine) today filed an amendment that would allow the Department of Health and Human Services (HHS) to shed light on medical device prices in an effort to help hospitals negotiate better prices for critical medical equipment.
 
“It’s common sense – if the Senate votes to repeal the medical device tax, then we will need to make it up somewhere. Requiring the industry to provide up-to-date pricing information for their products so that hospitals can negotiate the best prices possible is one way we can drive down the overall cost of patient care,” Senator King said.
 
Under current practices, companies often force hospitals to sign confidentiality agreements that protect medical device price information, thereby limiting competition and discouraging negotiation for lower prices. King’s amendment would allow HHS to collect and make public medical device price information and prohibit companies from forcing hospitals to sign such confidentiality agreements.
 
Senator King offered his amendment today following the introduction of another amendment that would repeal the Medical Device Tax. If the repeal amendment is brought to the floor for a vote, then King’s amendment will also be considered as an alternative.
 

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