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Study Shows Declining Prices For Major Implantable Devices
Date:9/23/2013

WASHINGTON, Sept. 23, 2013 /PRNewswire-USNewswire/ -- The Advanced Medical Technology Association (AdvaMed) today released a new study on pricing trends for implantable medical devices that shows average prices have declined significantly for major categories of implantable medical devices from 2007 through 2011.

"These average pricing declines reflect the intensely competitive marketplace for medical technology and underscore the tremendous value devices and diagnostics provide to patients and the overall health care system," said Stephen J. Ubl, president and CEO of AdvaMed.

From 2007 to 2011, the seven largest categories of implantable medical devices saw substantial declines in average selling prices paid by hospitals on both a nominal and inflation-adjusted basis.

Declines in average inflation-adjusted prices ranged from 17 percent to 34 percent, depending on device type. They include implantable defibrillators (24 percent), cardiac resynchronization therapy defibrillators (26 percent), pacemakers (26 percent), artificial hips (23 percent), artificial knees (17 percent), drug-eluting stents (34 percent), and bare metal stents (27 percent).

On a nominal basis (not adjusted for inflation) the price declines ranged from 5 percent to 25 percent, depending on the device category. The research was conducted by Analysis Group, Inc., on behalf of AdvaMed. A copy of the study can be found here.

"These results reaffirm previous findings that medical technology prices overall have remained consistently low for 20 years, growing at less than half the rate of prices in the overall economy – or at an average annual rate of 1 percent over the period compared to 2.7 p
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SOURCE Advanced Medical Technology Association (AdvaMed)
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