WASHINGTON, D.C. – The Advanced Medical Technology Association (AdvaMed) today unveiled a strategic plan that will guide its policy and advocacy activities to help the U.S. medical technology industry maintain its global competitive edge and to encourage innovation.
The three-year plan responds to the significant regulatory and economic challenges facing the industry. It also will help take full advantage of the unprecedented opportunities the industry has to improve patient care worldwide and to promote life-saving technologies.
“The timeliness and predictability of FDA reviews, the medical device tax, delivery system reforms – these are just a few of the issues that threaten the U.S. medical technology industry’s global leadership in innovation and ones that AdvaMed will continue to focus on,” said Stephen J. Ubl, president and CEO of AdvaMed. “At the same time, an aging global population, a rise in chronic disease and growing pressure on countries to reduce health care costs provide the industry with enormous opportunities.”
“AdvaMed’s strategic plan provides a framework to address many of the medical device industry’s challenges and opportunities,” said AdvaMed Chairman David C. Dvorak, president and CEO of Zimmer. “Pursuing these priorities will help ensure the continued flow of life-saving medical devices and diagnostics to patients and will maintain the industry as a source of well-paying, high-tech jobs.”
Dvorak highlighted three key elements of the strategic plan and indicated they will be top priorities for his chairmanship:
- Capitalize on Emerging Market Opportunities – To meet the demand of governments and patients around the world seeking advanced medical technologies to solve their health care challenges, AdvaMed will increase its international presence in key markets such as China, Brazil and India to address the growing regulatory, payment and advocacy needs of its members.
- Build Research Capacity – To provide the sound science and objective evidence needed to enlighten policy arguments, AdvaMed will build an in‐house research capability to develop analyses and responses to the sweeping payment reforms taking place in the U.S. and to the regulatory, fiscal, tax, legal and other challenges facing the industry.
- Engage Members and Other Stakeholders – To more effectively tell the important story about the patient and economic benefits the industry provides, AdvaMed will strengthen the reach and effectiveness of its advocacy efforts by improving its communications and engagement with member company employees, patient groups and providers.
The plan was developed with extensive input from AdvaMed Board members. To read the full plan please click here.
AdvaMed member companies produce the medical devices, diagnostic products and health information systems that are transforming health care through earlier disease detection, less invasive procedures and more effective treatments. AdvaMed members range from the largest to the smallest medical technology innovators and companies. For more information, visit www.advamed.org.
AZBio is an active partner with AdvaMed and AZBio Board Member, Virginia Rybski, President and CEO of Regenesis Biomedical, Inc. serves on the AdvaMed Board of Directors.