Market for Gastrointestinal Endoscopy Devices and Services to Grow

August 20 2010 | Kathy Crosett

Some parts of the Patient Protection and Affordable Care Act of 2010 will not take effect until 2014. But other parts, especially those that pertain to preventive care take effect much sooner. For example, consumers on Medicare will pay no out of pocket fees for colon cancer screening starting January 2011. And effective next month, September 2010, consumers who enroll in new health plans will not be charged co-pays, co-insurance of deductible fees for recommended preventive services. This includes consumers over age 50 who undergo screening for colon cancer.

Currently, consumers use preventive medical services at about half of the recommended rate. Often, cost is cited as a reason to skip screening exams. But as a result of the new legislation, industry analysts expect to see higher demand for procedures such as colon cancer screening. Clinics and medical centers will need to purchase more equipment such as videoscopes and biopsy forceps to meet this demand. The entire gastrointestinal endoscopy device market should  reach $2 billion by 2014.

As this market heats up, look for service providers and medical device makers to increase marketing. Consumers will need to be educated about their new coverage and encouraged to undergo regular screening for colon cancer to catch the disease in its early stages.

[Sources: New Colorectal Cancer Screening Coverage. MillenniumResearchGroup.com. 19 Aug. 2010. Web. 20 Aug. 2010; The Affordable Care Act’s New Rules on Preventive Care and You. HealthCare.gov. 14 Jul. 2010. Web. 18 Aug. 2010]

 

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  • Anonymous

    I was told by my insurance company that preventive colonoscopy screenings were at no charge. I even called to double-check this. What they didn’t tell me was that if anything is found during the procedure, then the medical coding is changed and it is now a medical procedure subject to the deductibles, 80/20 copay etc. Therefore my “free” colonoscopy ended up costing me around $1000.00 out of pocket. I personally have 4 other friends who experienced the exact same thing. Based on my friends and families experiences, in 100% of the cases, polyps were found and removed. So this new legislation will be absolutely worthless and consumers will still end up paying for the “free” colonoscopy screening. I wonder if the insurance companies know that in a high percentage of cases, polyps, swellings etc. will be found and they won’t have to cover this anyway. It is good publicity for them especially when they don’t have to pay for it. Sadly, many people won’t get this done and as you say, early detection is key to saving lives.