Medical reimbursement challenges and their impact on medical device companies

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Medical reimbursement challenges and their impact on medical device companies

Press releases may be edited for formatting or style | August 09, 2018 Insurance Medical Devices
LONDON--(BUSINESS WIRE)--Infiniti Research, a world-renowned market intelligence solutions provider, has announced the completion of their latest article on the top medical reimbursement challenges and their impact on medical device manufacturers.

Medical device reimbursements are the payments paid by the private insurers or a third-party insurer to a health care provider, usually in return for the cost incurred by healthcare service providers for using a medical device. If the coverage under reimbursement has no certainties, it becomes difficult to analyze the ROI, thereby, creating obstacles by limiting innovation.

However, there are several other challenges for medical device manufacturers that are associated with medical reimbursements. Though these factors vary depending on the geographic region and the demographics, there are a few common factors that pose major challenges for players in the medical device industry. This gives rise to questions such as, what are the major medical reimbursement challenges and its impact on the medical device industry? In an effort to help medical device industry players, Infiniti Research has curated a list of the top challenges and the impact associated with medical reimbursements.

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“Medical device companies will have to invest significantly in moving beyond products and devise effective business models to tackle the challenges and evolve in a value-driven healthcare ecosystem,” says an industry expert from Infiniti.

Major medical reimbursement challenges:

Opacity and complexity of the reimbursement process: Medical reimbursements are a complex process that prevents medical device manufacturers from leveraging technologies to devise innovative product offerings. However, in several parts of the world, a few industry stakeholders are themselves involved in the reimbursement process and interact with the medical device companies on a regular basis. At times, the reimbursement decisions may be time-consuming and uncertain, necessitating the need for medical device manufacturers to invest in technology upgrades. To know more about our solutions, get in touch
Cuts in government medical reimbursement spending: Owing to the burgeoning nature of health care costs, several government bodies across the globe including those of countries such as China, Japan, U.S, and E.U are focusing on devising ways to cut down their expenditures. As a result, leading medical device manufacturers are now looking at reducing the medical reimbursement amount to prevent healthcare costs from crossing their limits. However, several governments have already taken initiatives to help medical device manufacturers to reduce their spending on the reimbursement of medical devices; thereby, playing a key role in minimizing the overall the overall healthcare cost. To know more about our solutions for the medical device companies, request a proposal

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