Illustrating the impact of the medical device tax
Medical device industry lobbying group AdvaMed issues an infographic illustrating some of the potential negative impacts of the medical device tax that take effect at the start of next year.
MASSDEVICE ON CALL — Medical device industry lobbying group AdvaMed released a colorful infographic highlighting some of the impacts of the impending medical device tax, which takes effect in just over 1 month.
The infographic illustrates some of the potential burdens the tax will pose on the industry, such as deterring innovation, costing jobs and harming the U.S.'s standing as the global leader for medical devices.
"43,000 jobs will be at risk because of the tax," the infographic states, referring to a AdvaMed report issued in September 2011 which estimated that the 2.3% medical device sales tax put in place by the Affordable Care Act could cost the U.S. as much as 11% of its medtech jobs.