Medical devices reimbursement is a payment private insurer pays to healthcare providers for costs the provider incurred while using medical devices. Usually, health insurer or government payers cover the patients' healthcare expenses inclusive of medical device use. It is important because it ensures that patients have access to the medical devices they need.
Market Dynamics:
Increasing prevalence of chronic diseases, growing geriatric (aging) population, increasing cost of healthcare, and supportive government initiatives/programs are major factors expected to augment the growth of the global medical devices reimbursement market.
For instance, in November 2022, RQM+ announced the launch of its reimbursement division. RQM+ reimbursement services range from initial reimbursement strategy development to post-approval market access support. RQM+ now provides comprehensive reimbursement services in addition to regulatory, quality, clinical, and laboratory services, supporting market access throughout the entire product lifecycle for medical devices and diagnostics.
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