MTaI committed to fair, transparent mechanism of stent pricing that accounts for innovative nature of MedTech Sector
New Delhi [India], Jan 6 (ANI-BusinessWireIndia): The Medical Technology Association of India (MTaI) has been proactively and collaboratively working with the authorities in the process on pricing discussions over the past many months.
We are committed to have a fair and transparent mechanism of pricing which accounts for the innovative nature of the sector.
While we have been co-operating with all the authorities in these discussions, and our member companies were among the first to submit the required data, we are deeply concerned by seeing a selective outflow of altered pricing data in a few media reports this week. The reports selectively targeted only a few research-based companies while leaving a larger pool of more than 20 other companies out of the story.
We urge all the stakeholders to bring a broader perspective covering information about all other companies instead of discriminating against a few research-based companies.
The details of pricing as presented by MTaI members, as well as those that have been released in the press this week (if these are correct) point out to the vital importance of bringing all the constituents to the discussion table and place a process that drives accountability from all stakeholders, leading finally to the benefit of price reduction reaching patients.
A stent differentiation matrix mechanism, which would have helped differentiate different generations of drug eluting stents based on usage, safety data, publications and other measurable parameters, has been structured by MTaI in collaboration with leading cardiologists across India and submitted to the government for review. Done properly, a simplified version of this differentiation matrix can help define stent prices and also become a pioneering effort for other countries to implement.
MTaI believes that a nascent sector like medical devices which accounts for less than two percent of the overall healthcare sector of India; needs support with policies which encourage technology innovation, clinical evidence and strong quality management systems to ensure best patient outcomes.
Initiatives like 'Make in India' would lose on a major opportunity to generate highly skilled employment in absence of clear and rational policy framework.
A knee-jerk policy framework without accounting for innovation, will not only make India unviable to be a global destination for medical device manufacturing but will also reduce India's competitiveness to provide world-class and highly advance medical care to patient from India and abroad.
We appreciate the inclusive nature of the NPPA meeting agenda and hope our suggestions will be taken on board. We are willing to have the views we have put forth corroborated and the data we have presented verified and expect that the remaining quarters of the industry will come forward with their data by the new deadline of 9th January, 2017 as has been kindly extended by the Chairman NPPA for them. (ANI-BusinessWireIndia)