Device Chiefs: Healthcare Reform Here to Stay, Innovation at Risk [Orange County Business Journal (CA)]
|By Reed, Vita|
HEALTHCARE: Three share stage, concerns on U.S. competitive position
Healthcare reform won't be repealed and the
That's the quick take on a recent gathering that featured a trio of
The lineup included:
All agreed that healthcare reform would not be repealed, though each said they expect some "fixes" would be made on the margins.
Only Mazzo, who is also chairman of trade organization AdvaMed, said he minks the
The talk was presented by the Forum for Corporate Directors at the
The healthcare industry in general, and the medical device segment in particular, is "something which most people have strong opinions about but very little facts," Keckley said.
Then he tossed out various topics to the chief executives on stage.
Grant, a former executive with Allergan Medical, the cosmetic arm of
"Other countries right now are so focused on getting our investments, and our own government is absolutely not focused" on that, Grant said;
"At the end of the day, we have shareholders to answer to and we have to place our bets on where we think we're going to get the greatest return," he said.
The "pace of innovation" in medical devices is a chief concern for Mazzo.
"At AdvaMed, our whole goal is (to make sure) the whole counfty has access to innovation when we want to," he said.
Mazzo said that the U.S. has now fallen behind
He tied his concerns on the pace of innovation to device fees charged by the
The fee structure is a matter of current negotiations between the industry and the
"You can't allow the government to get bigger because it will slow down innovation," Mazzo said.
He contended that the slower regulatory pace in the U.S. has led devjflj makers with revenue of
The decisions to go offshore are often made by companies backed by venture capitalists and private equity investors who are seeking quicker returns, according to Mazzo.
And they're not easily reversed.
"If you build a manufacturing facility, it is very difficult to move," Mazzo said. "Once you build it, you're there."
All three executives called for more of a "consumerist" concept as an idea to give workers a "skin in the game" when making decisions on healthcare.
Mussallem said business executives should be asking, "What can we do to make my employees healthier? How can I help them be better decision makers?"
He also said "we should be not so quick to discount education" about things such as smoking and high-fat diets and their effects on workers' health.
Mussallem, Mazzo, Grant: only one sees chance of Individual mandate being overturned
Mazzo: bigger government will slow down industry innovation
Mussallem: help employees become "better decision makers" on healthcare
Grant: other countries more focused on device makers compared with U.S.
|Copyright:||(c) 2011 CBJ, L. P.|