Or that's at least the case with many Qmed readers.
Updated November 11, 2016
Many of Qmed's medical device engineering and design readers--nearly 46% to be exact--think U.S. President-elect Donald Trump will be good for the medical device industry, according to a recent readership survey.
Predictions about what Trump will do include everything from repeal of the Affordable Care Act to the medical device tax being dead for good.
Here's the full breakdown of the survey:
I think Trump's presidency will be good for the industry.
I think Trump's presidency will be bad for the industry.
I don't think Trump's presidency will have much of an effect on the industry.
I don't know what impact Trump's presidency will mean for the industry.
Qmed has received more than 200 responses to the survey, which also asked what changes respondents wanted from Trump after he takes office in January. Here are some of the more choice comments:
"Require healthcare insurers to offer a plan to low income clients that is based on a percentage of income yet covers basics--well baby, yearly check-ups, highly discounted prescriptions for basic meds such as insulin, blood pressure control, birth control, etc."
"Clean up just the unwarranted testing that is required for medical devices. Re-evaluate the testing requirements and look at those of other countries."
"Replace the unaffordable ACA (streamline min coverage requirements, establish HSA's and allow Insurance across state lines). Permanently remove the device tax. Establish limits on litigation awards."
"It's going to be fun watching him destroy the industry, thus allowing Europe to come out on top... (I'm European)"
"Get rid of the device tax. Reduce time to market regulations on medical devices."
"More support for medtech startups."
"I think that [Donald Trump] will end up screwing this country over, and eliminate our relevancy on the world stage."
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"Increased emphasis on R&D spending overall. An increase in the SBIR and STTR program for small buisness which is an engine for job creation. I also favor a tax amnesty for offshore corporate profits that are repatriated with the proviso that 50% of the amount be used for R&D on U.S. soil. The other 50% can be used however the company wants."
"Getting rid of the device tax would be a great start. Bringing reform to the FDA approval process should be next."
"Do not deny insurance coverage for the 20M+ Americans. It's their lifeline."
"Some of the features of the ACA that never seemed to have gotten any traction should be preserved even if repeal is inevitable. It would be unfortunate to lose the potential trillion dollar benefit of outcomes based reimbursement, for example."
"Reform tort laws, allow insurance carriers to sell across state lines and allow consumers to pick the options and coverage plans that will suit their needs."
"Reduce unnecessary regulations, reduce cost of new product/drug development, reinstate free-market health care, ensure the government control of this industry is focused when absolutely necessary--not generalized and ever-present."
"I would prefer that he keep his hands away from the industry. Given the amount of medtech industry manufacturing in Mexico and China, his stances are concerning. If he follows through on campaign promises, the device industry could see substantial cost increases and loss of jobs."
"Drop Obamacare, device tax, fees for FDA filings. Complete review of NIH/SBIR Grant funding and process."
"Make FDA more efficient for 510(k) clearance process of new products."
"Single payer. More healthcare available means more healthcare delivered."
"Modernize the FDA. The snail pace of equipment approvals is keeping advancement of technology from improving quality of care."
"A system where all could buy insurance on the open market and insurance is not purchased through your company. Companies could provide a benefit of medical insurance dollars in their benefit plan, but not the actual insurance."
"Focus on the med tech industry and its growth. Make America the starting point once again for new medical technologies, and the rest will work itself out."
"Don't destroy the planet so that we still have markets to work in. Don't become isolationist."
"None. I hope he stays out of our business."
"Kill Obamacare, kill device tax, lean out FDA processes."
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