Medical Device Industry

I have been involved in the Medical Device Manufacturing/Sales marketplace for over 20 years. What is great about this market sector is that it has always been a safe place to weather virtually every economic storm. Even in the tumultuous times we are now in, customers are still buying, upgrading and staying competitive. This is a good thing for the overall economy as well. People will always get sick and there needs to be stability in this sector in all times to support the illness's that besiege us from everywhere. In fact, in these times of high stress and fatigue, it could be argued that illness is even more rampant and to have stable health care is critical to the overall well being of our population. Yes, the rising costs of health care need to be evaluated and managed, however we must be very careful not to throw the baby out with the bath water. There are many things - in fact most things work very well in this industry. We need to look closely at those things that really drive up health care cost's and make adjustments where necessary. So what is one of those areas? TORT reform is HUGE? It is because of frivolous law suits and GINORMOUS settlements that have dramatically increased insurance rates and premiums. The reason people are uninsured is because they can't afford the insurance premiums. Insurance premiums are sky high because the insurance companies have to maintain stability - and when they lose HUGE settlements they have to re-coop their losses somewhere. The proverbial "brown stuff" floats down hill and ultimately lands squarely on each of our shoulders individually. Something to think about!