April 23 (Reuters) – Health regulators in the U.S. are set to announce a program to speed up federal payments for new medical devices for people insured by Medicare, the Financial Times reported on Thursday.
The program is designed to shorten the wait time for reimbursement to two months from a year or more, according to the FT report.
About 40 new devices are expected to be initially accelerated for coverage, the report added, citing the government.
Medical device makers often face long delays between regulatory approval and Medicare reimbursement. They have argued that the lack of a clear reimbursement pathway, unlike for drugs, discourages innovation and investment.
The report said the decision is a win for large device makers such as Medtronic and Johnson & Johnson, which have lobbied lawmakers to accelerate Medicare coverage for new products.
The Centers for Medicare & Medicaid Services and the Food and Drug Administration are set to hold a press call on Thursday at 9:30 a.m. ET to discuss the effort.
In 2025, Medtronic generated $33.5 billion in revenue and J&J generated $33.8 billion in medtech sales.
The new program comes as the Trump administration looks to cut healthcare costs and speed up patient access to treatments ahead of November’s midterm elections, the report said.
Reuters could not immediately verify the report.
(Reporting by Chandni Shah and Siddhi Mahatole in Bengaluru; Editing by Sharon Singleton and Sahal Muhammed)
