Medical Companies Brace For 'Devastating' ObamaCare Tax, Prepare For Layoffs
Andre DiMino has been running medical device company ADM Tronics since his father, who founded the decades-old firm, died in 2001. He's never laid off anybody.
"These people are like family with us," he said.
The boss might not be able to hold out much longer. Come Jan. 1, an ObamaCare-tied tax specific to his industry is expected to go into effect. Though the Obama administration has downplayed the impact, DiMino calls it "devastating." More
They will simply pass the cost on to the consumer. We buy those products and supply them to patients. This will have no impact on his company. I don't know what he is whining about, it is ALWAYS the consumer who pays these burdens in the end game
This tax applies to a lot of things that you wouldn't normally think of, like examination gloves, tongue depressors and millions of other routine items.
No it won't get passed on the the consumer 7:00. Med devices are generally and almost always paid for by insurance companies who dictate to the manufacturers the price they will pay-it's not the other way around. If the manufacturer wants to get reimbursed by a particular insurance company they must accept what that company will pay. Reimbusements have gone down-not up-another prime example of the fiasco Obamacare has become. In the end the manufacturer is going to bear the entire brunt of this tax in an industry that already has a slim profit margin.
i wonder how many of the people who will be losing their job voted for MR.DOOKIE in november.
ReplyDeleteThey will simply pass the cost on to the consumer. We buy those products and supply them to patients. This will have no impact on his company. I don't know what he is whining about, it is ALWAYS the consumer who pays these burdens in the end game
ReplyDeleteThis tax applies to a lot of things that you wouldn't normally think of, like examination gloves, tongue depressors and millions of other routine items.
ReplyDeleteNo it won't get passed on the the consumer 7:00. Med devices are generally and almost always paid for by insurance companies who dictate to the manufacturers the price they will pay-it's not the other way around. If the manufacturer wants to get reimbursed by a particular insurance company they must accept what that company will pay. Reimbusements have gone down-not up-another prime example of the fiasco Obamacare has become.
ReplyDeleteIn the end the manufacturer is going to bear the entire brunt of this tax in an industry that already has a slim profit margin.