The final regulations that provide guidance on the excise tax imposed on the sale of certain medical devices, enacted by the Health Care and Education Reconciliation Act of 2010 in conjunction with the Patient Protection and Affordable Care Act.
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AHRMM Member Advisory: Medical Device Tax Next Steps Background: The medical device excise tax is a feature of the Affordable Care Act. It was implemented by the IRS as of January 1, 2013. The 2.3 percent tax is expected to provide an estimated $20 billion in tax revenues over 10 years to help defray the cost of providing health insurance coverage to some 32 million Americans.
This special fraud alert addresses physician-owned entities, frequently referred to as physician-owned distributorships or 'PODs,' that derive revenue from selling, or arranging for the sale of, implantable medical devices ordered by their physician-owners for use in procedures the physician-owners perform on their own patients at hospitals or ambulatory surgical centers (ASCs).