Latest / Winning With Winans! / FDA Approval vs. Insurance Coverage: Why Medical Breakthroughs Take So Long
Transcript
- speaker-0: All right. So the process that you're all going through right now on getting this thing, I guess FDA fully fast tracked for Medicare and other insurance, what's something like that? Is it still years to get these things approved? speaker-1: Yeah, so our devices are FDA cleared already. They're already cleared. but the whole insurance piece, I think that's just another monster that the that the manufacturers work directly with them to try to get them approved. insurance is a is a challenging thing, right? But it's funny though, because once some commercial insurances start covering items, then they all kind of follow suit. Yeah. speaker-0: Yeah, they're already clear. speaker-1: And usually Medicare is kind of like the leader. And so once that one gets approved, then the other ones start to approve as well too. So, you know, though that'll be wonderful when I say when that happens because I know it will happen someday. I'm I'm positive about it. have a positive motivation about it, I should say. And I know that it will it will really help a lot of people versus, you know, taking the pill a day track, right? Yeah. speaker-0: Yeah.