Genuine question, do you think CMS payments would be adequate? The health systems we work with barely make even on Medicare rates.
That's a great question and a very reasonable concern for every taxpayer in the US.
I was in the cardiac implantable device industry for decades. During that time, I saw CMS approve device after device even if it did not decrease mortality rates, just morbidity, though they usually increased QOL. Just to give you a bit of how much money that is, we are talking $60-$80K for one procedure including the cost of the device. Did this money save lives? Yes, in many cases. Did it help people live better lives? Again, yes. However, that being said, the majority of cases were just slowing the slide to ultimate death. I won't head off into the moral debate (what is your life worth for 2 more years, your mom's, etc.?), but I will say I saw an obscene amount of money spent by the federal government in just one area of medicine. Billions.
Now, what is your hearing worth? What is a cure for tinnitus worth? I think, as a society, to restore normal hearing to your citizens is critical to leading a productive and happy life. So, why won't CMS pay $3-$5K for hearing aids to possibly enrich someone's life for 10, 20, 30 years, etc., but they will pay $80K for a Cardiac Resynchronization Therapy Implantable Defibrillator that may help someone for 3, 5, at the longest 10 years?? This is a very sick patient population, but the federal government has no problem with this. Why?
You have to look at the money at stake. The companies involved have worldwide resources to get their devices trialed and into the marketplace quickly. Multi-billion dollar market. Entire law firms at their disposal that do nothing but lobby Congress and the FDA.
The increase in CMS payouts is growing every year. The reimbursement to physicians has not been reduced in decades (in the area I worked in). The AMA's lobby and power in Washington is astounding. This money goes out the door, and Congress keeps kicking that can down the road. It has not stopped the cardiac industry, so in answer to your question, why should it stop the hearing health industry from getting a foothold and helping improve people's lives?
Deficit spending in the US healthcare market has been the standard since the 1970's. Technology continues to march along, and that is a good thing. Why the hearing health industry has been left out, I have no idea. It's not a question of can CMS afford it (of course they can't, but it hasn't stopped them in 50 years from approving and increasing reimbursements), it's a question of will they?
I might add that private insurance reimbursement rates generally follow what CMS decides. So, not all of this money is coming from the federal government. Probably 40% will come from private insurers in this scenario.
Call or write your representatives. It only takes a couple of hours of your time. If they open the money tap for tinnitus treatment reimbursements (VALID ones with blinded, randomized trials), this patient population will go from suffering and chasing the next so-called treatment, to one that has real options and therapies, and hopefully a cure, at their disposal. It can be done.