An AdvaMed study shows that medical devices aren't contributing to rising healthcare costs. U.S. senators allege that Medtronic manipulated product studies. Volcano receives a verdict in its countersuit against St. Jude Medical
AdvaMed Study Finds Medical Devices Not Responsible For Rising Healthcare Costs
A study released this week by AdvaMed shows that prices for medical technology have remained consistently low over a 21-year period, growing at less than half the rate of overall prices in the economy and only one-fifth the rate of prices for other medical goods and services. Device and diagnostic prices have increased at an average annual rate of 1%, compared to the Consumer Price Index (CPI) increase of 2.7%, the Medical Care CPI increase of 4.7%, and the Medical Care Services CPI increase of 5% [AdvaMed].
Senate Alleges Medtronic Manipulated Studies
Leaders with the Senate Finance Committee are charging Medtronic with manipulating studies on its spine-fusion product and failing to disclose significant financial ties to the studies' authors. Senators have alleged that Medtronic substantially edited articles on its own products. In one incident, it is alleged that details on the adverse effects of Medtronic's InFuse product may have been omitted from a article in Journal of Bone and Joint Surgery after the recommendation from a Medtronic employee. Between 1996 and 2010 the company is alleged to have paid “consulting fees” to various article authors to the total of roughly $210 million. [The Hill]
Jury Verdict says St. Jude did not Infringe Volcano Corp. Patents
A Delaware federal district court has issued a verdict in favor of St. Jude Medical in the company's ongoing legal battle with Volcano Corp., a developer and manufacturer of guided therapy tools for coronary and peripheral vascular disease. The court has found that St. Jude's PressureWire products do not infringe on three of Volcano's patents. Volcano has, however, announced that St. Jude has agreed that previous versions of the PressureWire did infringe on another of Volcano's patents. Proceedings on damages have not yet been scheduled. [PR Newswire]