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This bill amends Medicare's payment system to speed up patient access to newly approved breakthrough medical devices. Specifically, it allows breakthrough devices that receive FDA approval to qualify for conditional Medicare payment reimbursement even if they miss the standard deadline for the Medicare New Technology Add-On Payment program—as long as they gain FDA approval before July 1 of the fiscal year they apply. The legislation applies to devices already designated by the FDA for expedited review and priority processing. The bill affects Medicare beneficiaries (seniors and some disabled individuals) and medical device manufacturers seeking faster reimbursement for innovations. No new funding is required, as the law specifies implementation must be "budget neutral," meaning Medicare's overall spending limits remain unchanged. The bill applies retroactively to devices approved by the FDA on or after July 1, 2023.

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