In the spirit of November’s highly anticipated Presidential Election, an important and multi-faceted question was raised during a recent RQS presentation. “How will the results of this year’s 2012 Presidential Election affect the medical device industry?”
Now, this is not an easy question to answer and the answer is not a simple one. The outcome of the election may or may not directly impact the medical device industry. One candidate has expressed a desire to repeal the medical device sales tax and reduce FDA regulations, which could result in an increase in savings and product approvals for medical device companies. While the other candidate seeks to increase accessibility to healthcare and health insurance, which could potentially increase the demand for medical devices. Each candidate has his set of pros and cons.
To me, this question is not about advocating for a particular candidate or political party. Instead, the question runs deeper; it pertains to voter responsibility as “We the People,” how we exercise our vote, and its impact on the medical device industry and our society. We can take responsibility through the electoral process, voting with great consciousness, and becoming contributors to political action committees of the medical device industry, and becoming more active in our state/national societies and organizations (ex. Medical Device Manufactures Association, Regulatory Affairs Professional Society, BioOhio, and the Pittsburgh Technology Council). “We the People” are powerful, but we have to remember that “with great power comes great responsibility.”
If you consider yourself a liberal, conservative, neither… standing Left Wing, Right Wing, or somewhere in between… go and vote November 6th, 2012.
-RSpelich ^_^