Researchers Point to Decline in Average Reported Prices for Implantable Medical Devices
October 15, 2013
An Analysis Group team led by Senior Advisor Genia Long, Vice President Richard Mortimer, and Associate Geoffrey Sanzenbacher evaluated pricing trends for several major categories of implantable medical devices in a study sponsored by the Advanced Medical Technology Association (AdvaMed). In their recently released study, the researchers found that the average prices hospitals reported paying for seven device categories declined substantially, when adjusted for inflation, between 2007 and 2011.
The researchers found that over the studied time period, average reported prices decreased 34 percent for drug-eluting stents, 27 percent for bare metal stents, 26 percent for cardiac resynchronization therapy defibrillators, 26 percent for pacemakers, 24 percent for implantable defibrillators, 23 percent for artificial hips, and 17 percent for artificial knees. The survey included results from 153 to 294 nationally representative hospitals, depending on the device category and year. Survey data were provided by Millennium Research Group Inc.
"Little evidence is available on trends in average prices paid by hospitals for medical devices," commented Ms. Long. "This study provides insights indicating a steady and substantial decline in hospital inflation-adjusted reported average prices in recent years for some of the most widely used categories of implantable medical devices." The study received media coverage from several publications, including Bloomberg, Fierce Medical Devices, Plastics Today, Device & Diagnostic Letter, and Journal of Engineering.
Read the report
Read the AdvaMed press release