MedCAC plays an advisory role, recommending to CMS whether there is enough scientific evidence on the success of the technology in order to continue Medicare reimbursement. According to the Millennium Research Group, physicians performed 445,300 spine fusion surgeries on patients last year. Currently, there is not a national policy decision on Medicare’s reimbursement of such products.
MedCAC committees are comprised of 13 to 15 experts including both consumers and industry representatives. Larry Biegelsen, Wells Fargo Securities analyst, said in the report that this decision could have an impact on Medtronic’s $3.5 billion spine business, and the fact that MedCAC will convene over the issue should raise concerns among investors.
Read the Star Tribune report on MedCAC’s decision to meet.
Read more coverage on Medtronic’s spine business:
– Companies Challenge Medtronic for Vertebral Compression Fracture market Control
– FDA Panel Votes to Recommend Approval for Medtronic’s Amplify Spine Device
– Medtronic, Salient Surgical Technologies Sues Bovie Medical for Patent Infringement
At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.