Golly, the way things have been going around here of late, you'd a thunk we'd forgotten all about ObamaCare. Seriously, what's it been? Like, a week?
Since the following is something we're just learning about subsequent to the passage of ObamaCare, this qualifies as an update to our rolling post Nancy's Nuances: a journey of discovery which we will update later this week.
Massachusetts medical-device companies say they’ll cut back on operational costs - and jobs - after a planned 2.3 percent tax on their products is implemented in 2013, according to a new survey.
The Massachusetts Medical Device Industry Council, which held its annual meeting yesterday in Boston, said about 90 percent of the 100 medical-device firms said they would reduce costs due to the new tax tucked into the recently passed health-care reform bill.
The tax - imposed to help pay for the massive health-care industry overhaul and expansion - is “of the greatest concern” to a majority of its members, the survey found.
About 70 percent of the survey respondents said future innovation will be hurt by a new federal “physician sunshine bill.” The bill will require medical-device firms to report their marketing expenditures on physicians, and a recently passed gift-ban law in Massachusetts.
(italics, ours)
What the article doesn't mention is that not only will medical device makers cut back on R and D for potentially life-saving and quality-of-life-improving devices, they will pass along that tax burden in the form of higher prices on the devices they do produce to the consumer. That would be you, in case you were wondering.
The chill to R and D in the medical field that we predicted when ObamaCare was being "debated" is now a reality as businesses are finding that ObamaCare is actually a disincentive to innovation.
Fewer jobs, less innovation and higher prices. Just what is there not to love about ObamaCare?
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