Private Health Insurance claims on Medical Device Pricing Debunked

MTAA has released a PwC analysis of the impact of potential price changes to medical devices on the Prostheses List (PL).

This analysis shows a difference between public and private pricing of medical devices of $305.7 million. This is considerably less than the entirely misleading fake claim of $800 million made by the taxpayer subsidised private health insurance industry.

It shows there is a total differential of 15.3% between public pricing and private pricing of medical devices.

Independent Hospital Pricing Authority data on medical devices

The Australian carries a story (‘Premium hopes rest on knees, hip’) based on the Independent Hospital Pricing Authority (IHPA) data as part of the Senate Community Affairs Committee inquiry into the Prostheses List (PL) framework.

 
The Medical Technology Association of Australia (MTAA) is of the view the IHPA data is like comparing ‘apples and oranges’

Sponsor the MedTech2017 Annual Conference

Be part of MedTech2017 in November! Contact Jennifer – jellis@mtaa.org.au for information on remaining exhibition and sponsorship opportunities.

Join our sponsors – Coffee - Maddocks & Smartways, Networking drinks –KWM & FrankeHyland, Industry Awards Dinner – MTPConnect, International Speaker Dora Hughes - Medtronic, Insight Strategy & Capital Hill.

With less than 50 days remaining until MedTech2017 takes place, don't miss out on your opportunity to register your attendance! 

MTAA congratulates recent appointments of Department Secretaries

MTAA congratulates the recent appointment of Dr Heather Smith (pictured left) as Secretary of the Department of Industry, Innovation and Science and Ms Glenys Beauchamp (pictured right) as Secretary of the Department of Health.

MedTech gets $13.3million funding via the Biomedical Translation Fund

The Turnbull Government will fund three medical breakthroughs to help people with severe disabilities walk again and support thousands of Australians facing crippling chronic back pain. A total of $13.3 million will be invested into high potential Australian innovations from the $500 million Biomedical Translation Fund (BTF) - a key initiative of the Turnbull Government’s National Innovation and Science Agenda.

The Digital Economy: Opening up the conversation

On 19 September 2017, the Australian Government announced it will develop a national Digital Economy Strategy. The strategy will focus on ways governments, businesses and the community can adjust to seize the benefits of digital transformation.

The ‘digital economy’ is not separate to the economy. It impacts all industries and business types, and influences the way we interact with each other every day.

The government will launch the strategy in the first half of 2018, following an open conversation with governments, businesses and the community. Read the Digital Economy Consultation Paper and share your views on the consultation paper to digitaleconomy@industry.gov.au by 30 November 2017.

Recently, the Minister for Industry, Innovation and Science, Arthur Sinodinos, delivered a speech entitled "Thriving in a Disruptive World" to the Australian Financial Review Innovation Summit in which he highlighted medical technology as examples of Australian innovation.

You can read a transcript of the speech here.

MedTech featured on ABC Catalyst

ABC Catalyst Series 18 Heartbeat: The Miracle Inside You featured the life saving and life changing role of MedTech in treatment of heart disease from 3D printing to the TAVI. 

Heart surgeon Dr Nikki Stamp takes us into the amazing world of our hearts - revealing how they function, how can we look after them and shows us the latest science she uses to help fix them when they go wrong.

Opportunities for Australian MedTech in UK

The UK is a prime destination for health and life sciences Foreign Direct Investment (FDI) in Europe, and the Department for International Trade (DIT) is committed to assisting global companies in accessing the highly attractive and growing market. In particular, DIT can assist Australian companies to expand to the UK, and globally, through the provision of tailored services.

DIT’s team of specialists focus on assisting companies in identifying and accessing selected suppliers of services, equipment, expertise and/or key contacts. Other areas of focus include providing advice on setting up in the UK in areas such as tax, employment, visas, bank accounts and demographics, as well as facilitating collaborative research and development partnerships with Australian organisations committed to expanding globally.

“At DIT our expert team helps Australian and UK companies in priority sectors, such as life sciences, achieve their global expansion. The UK and Australia have a close bond in healthcare and life sciences with investment by our market leaders in each other’s countries.” said Michael Ward, Consul General and Director General for the Department for International Trade in Australia.

For more information on the Department for International Trade, visit https://invest.great.gov.uk/int/industries/health-and-life/

Blockchain in Healthcare Summit

Blockchain isn’t just limited to people in IT departments, blockchain’s features mean that whole new ways of providing more efficient treatment will be opened up.

Here’s why everyone in the Healthcare Sector will be attending:

• Hear from and network with innovative blockchain strategists
• Gain valuable insights into how the technology can transform traditional supply chain  
• Understand blockchain technology and its potential in healthcare
• Collaborate with building an effective regulatory framework
• Harness the potential influence of blockchain on data and identify verification
• Learn how blockchain can transform payments and settlements
• Anticipate trends and capture future opportunities

For more information download the event brochure here http://bit.ly/2uUz3F6

Medical Devices Sponsor Information Day

MTAA is supporting the Medical Devices Sponsor Information Day: Understanding the Regulatory Framework.  The event will be held on Wednesday, 11 October 2017, 9am-5:30pm at the Hellenic Club of Canberra, ACT.

MTAA will be represented by George Faithfull, Rebecca Gaudin & Elizabeth Van Den Akker.

Invitation to join Australian MedTech delegation to the US

MTPConnect is inviting Australian MedTech companies to join a delegation to The MedTech Conference—September 25 – 27, 2017 in San Jose, California—to showcase our outstanding innovative technology and build invaluable inroads into international markets.