I work at CareFusion in San Diego, a medical equipment innovator and manufacturer. We make I.V. pumps and automated medication dispensing equipment for hospitals.
We’ve experienced round after round of layoffs due to the Medical Device Tax, which is a tax on the gross sales, not profit. What that means is that our normal 10% profit on investment is now 7.5%. A loss of half of our R&D budget. Literally hundreds have lost their jobs, from assembly technicians to engineers. My engineering group that numbered 9 at the beginning of the year is now down to 4. We’ve been forced to cancel several new technology projects that would have made healthcare less expensive and safer.
Just what wonders does Obamacare give us that is worth the loss of so many jobs – some of these folks have been with the company for over 30 years – and the near total freeze in medical technology? I just don’t see it.
And we haven’t even seen what the changes in our premiums for next year will be yet.
Premium Before Obamacare:
Premium After Obamacare: