Advertisement
News
Advertisement

FLASH: Medical device tax payments hit the $1B mark

Mon, 07/15/2013 - 4:29pm
Mass Device

Medtech companies have collectively paid an estimated $1 billion in compliance with the Affordable Care Act's 2.3% medical device sales tax.

MassDevice.com coverage of the medical device taxThe 2.3% medical device sales tax has cost the industry an estimated $1 billion so far, according to a report released by a coalition of medical device lobbying groups, which called the milestone "frightening."

The tax costs medical device makers an average of $194 million per month, funds which should be going to research & development efforts and to salaries for new employees, according to the Medical Imaging & Technology Alliance, AdvaMed and the Medical Device Manufacturers Assn. 

Topics

Advertisement

Share this Story

X
You may login with either your assigned username or your e-mail address.
The password field is case sensitive.
Loading