S. 3457 · 114th Congress
Reducing Medicare Costs through Innovation Act
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Never voted on. It didn't reach a floor vote before the 114th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
GardnerSponsor1 cosponsor · 1 D
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill establishes a Medicare commercialization grant program, through which the Centers for Medicare & Medicaid Services (CMS) shall award grants to eligible small businesses for certain activities related to developing novel eligible medical products and receiving Food and Drug Administration (FDA) approval for such products.
What it does: CRS summary · Introduced in Senate · Sep 28, 2016
Reducing Medicare Costs through Innovation Act
This bill establishes a Medicare commercialization grant program, through which the Centers for Medicare & Medicaid Services (CMS) shall award grants to eligible small businesses for certain activities related to developing novel eligible medical products and receiving Food and Drug Administration (FDA) approval for such products. CMS shall solicit grant applications annually, with a focus on the diseases or conditions that are the top ten cost drivers in the Medicare program.
To carry out the grant program, CMS shall use amounts allocated under the Small Business Act for the Small Business Innovation Research and Small Business Technology Transfer programs.
The bill also establishes a pilot program (similar to a pilot program that was previously established in regulation) for parallel review of medical products with the purpose of reducing, with respect to certain medical products developed by Medicare commercialization grant recipients, the timeline for FDA approval and Medicare national coverage determinations.
A Medicare commercialization grant applicant may choose to apply for FDA approval of novel medical products either through a traditional process or through the pilot program.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Reducing Medicare Costs through Innovation Act
Latest action (Sep 28, 2016): Read twice and referred to the Committee on Finance.
Policy area: Health · Origin: Senate · Introduced: Sep 28, 2016
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.