Is Medicare a ‘Valley of Death’ for Innovation? w/Katie Meyer

Is Medicare a valley of death for medical innovation? While the U.S. is seen as a global leader in medical device innovation, the $800+ billion program that covers healthcare costs for senior citizens has been slow to reimburse certain medical devices, even when those devices are approved by the Food and Drug Administration. On average, it takes Medicare 4.5 years to cover a new FDA-approved medical device. This length of time has been dubbed the “Valley of Death,” referring to the human cost of delay. 

While members of Congress and advocates in the med tech industry are pushing Medicare to streamline its process, CMS, the Center for Medicare and Medicaid services, has sounded a note of caution, warning that moving too quickly fails to account for the unique needs and considerations of the Medicare population, Americans over 65 years old. 

Is this simply bureaucratic foot dragging, or are there legitimate safety and health risks with Medicare giving its blessing to new technologies and treatments? Is there a policy balance to be struck, where government health officials give seniors the unique consideration they need without denying them access to potentially life-saving treatments and devices?

Evan is joined by Katie Meyer, Vice President of Public Affairs at Novacure, a global oncology company working to extend survival in some of the most aggressive forms of cancer. Prior to that, she served in Congress in various roles, including as Deputy Health Policy Director at the Senate Finance Committee.