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Implantable devices, like cardiac pacemakers and artificial hips, are a central part of medical treatment today. As the population has aged and technology has advanced, the range of
implantable devices and the number that are being inserted in people have increased dramatically. As a result, AARP’s Public Policy Institute is taking a closer look at issues related to the
regulatory oversight and cost of these devices. While implantable devices provide potentially life-saving benefits, they also carry substantial risks to patients, including serious injury
and even death if they fail. A number of serious implantable device failures have caught the public’s attention and raised questions about the need to improve their safety and effectiveness.
In an _Insight on the Issues_ (and accompanying blog), Keith Lind examines regulatory reform options that could both strengthen and streamline FDA’s approval and oversight of implantable
devices while improving protections for public health and safety. And while millions of people have received expensive implantable devices, the marketplace for these devices remains
surprisingly opaque. Market characteristics suggest that prices for many of these devices may be higher than they would be in a competitive market but studies have been unable to gather
substantial direct evidence of high prices due largely to a lack of price transparency. A second _Insight on the Issues_ (and accompanying blog) delves into the market for implantable
devices; financial incentives faced by manufacturers, hospitals, physicians, and payers; the impact of the current market structure on competition; and the lack of price transparency. This
_Insight_ suggests a number of policy options that could strengthen competition in the marketplace and benefit buyers, payers, and consumers.