This bill amends Medicare's payment system to allow breakthrough medical devices to qualify more quickly for additional reimbursement through the New Technology Add-On Payment program. Specifically, it enables devices that receive FDA approval or clearance after missing the standard deadline to still receive conditional approval for Medicare payment in that same fiscal year, provided the approval is granted before July 1st. The legislation applies to devices designated by the FDA as breakthrough technologies receiving expedited review, making it easier for Medicare beneficiaries to access innovative medical devices without unnecessary delays. The bill takes effect upon enactment and applies retroactively to devices approved by the FDA on or after July 1, 2023. The change is required to be implemented in a budget-neutral manner, meaning it will not increase overall Medicare spending.
Take Action
Your position
Add a comment
to comment on this bill.
Annotate the text
Highlight any passage on the Summary or Full Text tab to attach a note. Annotations appear on the Annotations tab.