Medicare Coverage of Innovative Technology (MCIT) (CMS-3372-P) proposed rule

Medicare Coverage of Innovative Technology (MCIT) (CMS-3372-P) proposed rule, would provide Medicare beneficiaries access to the latest medical technology faster than ever. Under current rules, FDA approval of a device is followed by an often lengthy and costly process for Medicare coverage. The lag time between the two has been called the “valley of death” for innovative products, with innovators spending time and resources on FDA approval, only to be forced to spend additional time and money on the Medicare coverage process. This represents not only an unnecessary waste of resources for innovators, but also a significant problem for America’s seniors, who are prevented access to these potentially lifesaving technologies during the existing Medicare coverage determination process.