BERLIN – The German government has just made $3.6 billion available to the Future of Hospitals Act (Krankenhauszukunftsgesetz, KHZG), through the liquidity reserve of the health fund in order to support public hospitals with digital transformation. Besides this government cash injection, an additional $1.6 billion will be made available through co-funding by the German federal states, the 16 Länder. In total, German hospitals will get a $5.2 billion funding to boost digitization.
The expansions of coverage of telehealth associated with the COVID-19 pandemic will persist after the pandemic is over, even if the post-pandemic utilization does not match the current rates and types of utilization. However, speakers on a recent webinar hosted by Moses & Singer LLP of New York said that state medical licensure practices after the pandemic could be a help or a hindrance to more widespread use of telehealth, an issue stakeholders will want to track as 2021 unwinds.
The impetus to provide more Medicare coverage of telehealth may prove irresistible, but the Medicare Payment Advisory Commission (MedPAC) has some reservations, including that telehealth payment rates should not favor companies like Dallas-based Teladoc Health Inc. over bricks-and-mortar clinics. This and other considerations are driving the commission toward a recommendation that a two-year telehealth pilot program would be more appropriate than simply jumping into a quickly broadened world of Medicare telehealth coverage.
The latest global regulatory news, changes and updates affecting medical devices and technologies, including: Telehealth bill resurfaces in 117th Congress; OIG includes telehealth in FY 2021 workplan.
The volume of med-tech deals and M&As in 2020 reached impressive levels, well above 2019, primarily due to the demands of a global pandemic, although the disclosed values of those alliances fell dramatically short. Even so, the spotlight that shined on digital health and diagnostics throughout the challenging year has potentially set up the med-tech industry for an influx of attention going forward.
The latest global regulatory news, changes and updates affecting medical devices and technologies, including: CMS finalizes MCIT rule; HHS lists permanent waivers of notification; FDA schedules advisory meeting for latest Lutonix model; HHS announces telehealth grants; Telemarketer caught in sting over telehealth fraud; Churn at FDA chief counsel’s office.
Telehealth has been topical in the U.S. for several years now, but the COVID-19 pandemic lent new urgency to the question of Medicare coverage. However, there are a number of related enforcement issues that could dampen adoption and increase the legal risk for both health care professionals and developers of telehealth-related products.
TORONTO – Ontario and British Columbia med-tech companies have received CA$1.4 million (US$1 million) from Ottawa’s Supercluster fund, making a difference they said for patients suffering the long-range effects of COVID-19, chronic disease and undergoing joint replacement surgery.
While telehealth has been gaining traction over the last few years, the COVID-19 pandemic really shined a spotlight on this rapidly rising space. In July, Globaldata predicted that the telehealth industry likely would reach $20 billion by 2024, boosted by a loosening of restrictions. Indeed, an Oct. 30 CDC report highlighted a 154% increase in telehealth visits during the last week of March vs. the same period in 2019. The authors added that policy changes could help boost access to care via telehealth during and after the pandemic.
Eargo Inc., a medical device company specializing in hearing aids, reported $18.2 million in third quarter revenue, driven by sales of the company’s Neo Hifi hearing aid system and a decrease in the sales return accrual rate. Revenue was up 135% over the third quarter of 2019.