Today perhaps more than at any time in the past, health care costs are soaring. Additionally, approval for much-needed procedures is subject to more intense scrutiny than ever. That increased scrutiny extends to all new medical devices, inhibiting the appearance and usage of innovative devices.
Fortunately, in 2012 a new regulatory agency was formed. Named the Medical Device Innovation Consortium (MDIC) by the Food and Drug Administration (FDA), it exists for the express purpose of reviewing such medical products, and informing medical organizations and medical education institutions about their approved uses. This new governing body has already sparked an increase in the number and kinds of medical devices being made available in the health-care industry; some of which are described below. [Read more…]