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BIOCOM Response to Health Portion of President's Speech at George Washington University
Date:4/15/2011

esale changes to Medicare and the President and Congress have an extremely limited ability to intervene," continued Panetta.  "Any further expansion of the IPAB will fundamentally interfere with a physician's ability to determine what is best for the patient, or for physicians, hospitals, or drug and device manufacturers to have input on fair and reasonable reimbursement. The life sciences industry will already be contributing a great deal to health reform, well over $100 billion by some estimations.  Given that many studies place the prescription drug and prescription medical device industries combined as less than 15% of the total health care dollar, the industry already is being a responsible partner in doing its share.  Several lawmakers have already weighed in with their concerns about the expansion of powers of IPAB, and BIOCOM echoes those concerns."

About BIOCOM: BIOCOM is the largest regional life science association in the world, representing more than 550 member companies in Southern California. The association focuses on initiatives that positively influence the region's life science community in the development and delivery of innovative products that improve health and quality of life. This includes initiatives in capital formation, public policy, workforce development, group purchasing and member services such as networking events. For more information on BIOCOM or the Southern California biotechnology and medical device community, please visit www.biocom.org.


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