Panel: Identifying the Commercial Value of Tissue Regenerative Biomaterials
Timeslot: Thursday, April 22, 2021 - 1:45pm to 3:15pm
Track: Tissue Engineering and Regenerative Medicine
Medical devices for Tissue Regeneration bear extreme significance in Biomaterials science. This session intends to address the hurdles in commercialization of the same. FDA as a regulatory agency monitoring the safety & efficacy of devices, can further enhance their scientific interactions with relevant medical biology/biotech societies including our Society for Biomaterials (SFB). CMS as the payor agency declares the product value decided by the Relative value Update Committee (RUC) comprised of 31 physicians from the societies affiliated with American Medical Association (AMA). No input seems to be obtained from basic scientific/biotechnology societies including SFB. To conclude, proper technical inputs from FDA and other relevant scientific societies like SFB are indispensable. Our proposal is to form a consortium of â€œFDA, CMS, the scientific groups (specifically SFB), and the clinical societies under AMA,â€ to determine the reimbursement value of medical devices supervised by the department of Human Health Services (HHS).
Abstracts will be available for download on April 20, 2021.
Moderator: Dr. Subramanian Gunasekaran, PhD