Healthcare Reform Policies Impacting Hospital Supply and Equipment: A Look at Latest Changes and Implications

Written By Lauren Davis, BS, CPT

Summary

  • The latest healthcare reform policies in the United States are impacting the way hospitals manage their supply and equipment.
  • These changes are aimed at improving patient care, reducing costs, and increasing transparency in the healthcare system.
  • Hospitals need to adapt to these new policies by implementing efficient Supply Chain management practices and investing in innovative medical devices.

Introduction

In recent years, healthcare reform policies in the United States have been focusing on improving the quality of patient care, reducing Healthcare Costs, and increasing transparency in the healthcare system. These reforms have a significant impact on how hospitals manage their supply and equipment, especially in the context of medical devices. In this article, we will explore the latest healthcare reform policies affecting medical devices and discuss their implications for hospital supply and equipment management.

The Affordable Care Act (ACA)

The Affordable Care Act (ACA), also known as Obamacare, has been a major driver of healthcare reform in the United States. One of the key provisions of the ACA is the implementation of value-based Reimbursement models, such as accountable care organizations (ACOs) and bundled payments. These models incentivize Healthcare Providers to deliver high-quality care at lower costs, which has led to a shift towards more cost-effective treatments and technologies, including medical devices.

  1. Value-based Reimbursement models encourage hospitals to choose medical devices that offer the best outcomes for patients at the lowest cost.
  2. Medical device manufacturers need to justify the cost-effectiveness of their products and demonstrate their impact on patient outcomes to secure contracts with hospitals.
  3. Hospitals are investing in innovative medical devices that improve patient outcomes, reduce readmission rates, and lower Healthcare Costs in the long run.

The 21st Century Cures Act

The 21st Century Cures Act, passed in 2016, aims to accelerate the development and approval of new medical technologies, including medical devices. The act streamlines the regulatory process for medical devices, making it easier for manufacturers to bring new products to market. This has led to a surge in the number of innovative medical devices available to Healthcare Providers, but it also raises concerns about the safety and efficacy of these products.

  1. The 21st Century Cures Act has led to an increase in the number of medical devices available to hospitals, providing more options for improving patient care.
  2. Healthcare Providers need to carefully evaluate the safety and efficacy of new medical devices before integrating them into their practice to ensure the best outcomes for their patients.
  3. Hospitals are adopting new technologies to streamline their Supply Chain management processes and increase efficiency in acquiring and managing medical devices.

The Medical Device Excise Tax Repeal

In 2018, the Medical Device Excise Tax, a 2.3% tax on the sales of medical devices, was repealed as part of the Bipartisan Budget Act. The repeal of the tax has been welcomed by the medical device industry, as it reduces the financial burden on manufacturers and allows them to invest more in research and development. This has led to an increase in the production and innovation of medical devices, benefiting hospitals and patients alike.

  1. The repeal of the Medical Device Excise Tax has resulted in lower costs for medical devices, making them more affordable for hospitals and Healthcare Providers.
  2. Medical device manufacturers are investing more in research and development, leading to the introduction of new and improved medical devices that enhance patient care and outcomes.
  3. Hospitals are able to upgrade their equipment and technology more easily, resulting in better quality of care for patients and improved efficiency in healthcare delivery.

Conclusion

The latest healthcare reform policies in the United States are reshaping the way hospitals manage their supply and equipment, particularly in the context of medical devices. The implementation of value-based Reimbursement models, the 21st Century Cures Act, and the repeal of the Medical Device Excise Tax have all had a significant impact on hospital Supply Chain management practices and the adoption of innovative medical devices. Hospitals need to adapt to these changes by implementing efficient Supply Chain management processes, evaluating the safety and efficacy of new medical devices, and investing in technologies that improve patient care and reduce costs. By staying informed and proactive, hospitals can navigate the evolving healthcare landscape and continue to provide high-quality care to their patients.

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Lauren Davis, BS, CPT

Lauren Davis is a certified phlebotomist with a Bachelor of Science in Public Health from the University of Miami. With 5 years of hands-on experience in both hospital and mobile phlebotomy settings, Lauren has developed a passion for ensuring the safety and comfort of patients during blood draws. She has extensive experience in pediatric, geriatric, and inpatient phlebotomy, and is committed to advancing the practices of blood collection to improve both accuracy and patient satisfaction.

Lauren enjoys writing about the latest phlebotomy techniques, patient communication, and the importance of adhering to best practices in laboratory safety. She is also an advocate for continuing education in the field and frequently conducts workshops to help other phlebotomists stay updated with industry standards.

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