Oct 27, 2013

Device companies deal with ACA

QMED details how one medical device company is dealing with the 2.3% tax on medical devices imposed as part of Obamacare:

To cover reduced margins, merit Medical no longer provides 401(k) matching for its employees. In addition, the company stopped donating to charities it previously supported, such as Junior Jazz and The Leonardo. That said, the company has not had to lay off any of its employees yet. In total, the company employs 1,700 people. “You take that kind of money out of a company and something has to give and it's basically research and development or marketing, and those are jobs,” notes Fred Lampropoulos, CEO of Merit Medical.

8 comments:

Andrew Nguyen said...

We've created a corporate gifting rewards platform that makes it much more efficient to track and record gifts. It's a real solution for medical device manufacturers committed to reporting compliance under the Sunshine Act and ACA. Here's a link to our blog post, we'd love to guest blog here, too, and tell you more about Tango Card.
http://www.therewardologist.com/affordable-care-act-means-new-reporting-requirements-for-corporate-gifts/


--Andrew

Cliff C said...

This will be very interesting to see how this all plays out long term. It hasn't slowed our clients on device development but it's still early in the game. Cliff - http://leardon.com

Futon said...

Very interesting post and I knew maximum about the deals between Device companies and ACA.

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Shyla John said...

Congratulation to you for this achievement. Very good to know that device companies are dealing with ACA. I think this deal could be to helpful for both of them.


Futon

Carolyn Taylor said...

Impressive! thanks for sharing.


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