Centers for Medicare & Medicaid Services (CMS) issued a final rule that propels innovative technology, so Medicare beneficiaries have access to the latest, most advanced devices. This action represents a step forward that will help smooth the Medicare coverage pathway for innovative products, resulting in faster access to new devices for America's seniors. This action delivers on CMS's Unleashing Innovation and Patients Over Paperwork Initiative.
The Medicare Coverage of Innovative Technology (MCIT) (CMS 3372-F) final rule will provide the nation's more than 60 million Medicare beneficiaries access to the latest medical technology faster than ever. Under current rules, FDA approval of a device is followed by an often lengthy and costly process for Medicare coverage. The lag time between the two results in innovators first spending time and resources on FDA approval, and then subsequently on the Medicare coverage process. This causes undue burden for innovators and could delay access to these potentially lifesaving technologies during the existing Medicare coverage determination process.
CMS has implemented this, so that lag time or delay, will be a thing of the past and Medicare beneficiaries will be able to have a peace of mind if they are ever in need of advance technology.