The Medical Technology Association of Australia has welcomed the 1 February implementation of price cuts to a range of medical technologies.
The cuts were applied under the association's strategic agreement with the federal government that was negotiated in 2017. The industry agreed to cuts that are expected to reduce the cost of medical technologies by in excess of $1 billion by 2022.
“This agreement with government continues to help more Australians access more medical technology at less cost," said MTAA CEO Ian Burgess.
“That is what I call a win-win-win for patients, taxpayers and industry.
“Today’s announcement also debunks the long-held claim that the cost of individual medical technologies continue to rise, when the vast majority are actually falling in price.
“This is further evidence that when governments work with the medical technology sector, patients get a good deal more.”
Mr Burgess said medical technologies are evolving rapidly. “Two of the biggest contributors to Australia’s ill-health are inactivity and isolation – and the two are often linked, particularly as we get older," he said.
“Increasingly medical technology is being used not just to save lives, but keeping Australians more mobile, social, and now, working, for longer, which are all essential to the future health of our ageing population and economy.
“These medical technologies are also continuing to improve patient recovery and operating times, for less cost, meaning better outcomes for the health system and the budget.”