We're less than five months from January 1, 2013, the date the medical device tax is set to go into effect. So far, the industry has put most of its might behind efforts to repeal the tax. But as D-Day for the device tax draws nearer and efforts to advance repeal bills in the Senate seem stalled out, it might be time for medical device companies to start thinking practically about how they're going to deal with the tax. What are you doing to prepare for it?
I posted that same question on the Medical Devices Group on LinkedIn and got some interesting responses. One person said his company is "hunkering down," cutting staff and focusing on cost reduction. Others mused about the industry's ability to pass the tax on to customers. Another respondent says a strong offense is the best defense and suggested a focus on growing sales is the way to go.
What do you think?