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AdvaMed Pledges To Cut Healthcare Costs By Improving Medical Devices

As part of President Barack Obama’s effort to trim $2 trillion in US healthcare spending, Advanced Medical Technology Association (AdvaMed) will encourage medical device makers to improve the design of their products. In a letter sent to the president last week, AdvaMed joins drugmakers, hospital groups and labor representatives in advocating ways to cut the growth rate of healthcare spending by 1.5% points annually, the target set at a meeting with Obama last month.

The stakeholders pledge in the letter to save a total of $1 trillion to $1.7 trillion over the next decade through a series of cost-cutting proposals.