NW Valley Times

WASHINGTON, D.C. — Today, the House Ways and Means Committee passed H.R. 8832, the Maintaining Innovation and Safe Technology Act, legislation that would direct the Department of Health and Human Services (HHS) to establish reimbursement guidance for remote monitoring devices that use AI to treat patients.

In a paper prepared by the National Bureau of Economic Research, researchers estimated that further implementation of artificial intelligence into the healthcare system could produce savings from 5% to 10% of spending, equating to around $200 billion to $360 billion annually in 2019 dollars. Forbes has also estimated that promoting the use of health-monitoring wearable devices could result in $200 billion in cost-savings over the next 25 years.

“My fascination with AI integration has been ever-present. This legislation embraces the morality that is tied to implementing innovation further in our healthcare system,” said Rep. Schweikert. “Automating the organization and collection of patient information has proven to ease burdens off physicians, detect health irregularities quicker, and provide hundreds of millions of dollars in savings each year. The potential for wearable devices to save American lives and American dollars is expanding, and it’s time for coverage to reflect that.”

“Federal bureaucracy shouldn’t be standing in the way of tools which can provide enhanced outcomes to patients. Agencies and providers all working together to leverage all available tools on behalf of patients, including AI, will yield higher quality of care and help lower costs in the healthcare system. Congressman Schweikert’s legislation would require Medicare to review and report on their existing authorities to cover AI-assisted healthcare so innovators and Congress can chart a course for the future of healthcare in America,” said Ways and Means Committee Chairman Jason Smith (MO-08).

“Technology has tremendously improved our lives in so many ways, and with breakthroughs in Artificial Intelligence, it’s time we apply that to our medical care,” said Rep. Hern. “Safe AI will provide important benefits to patients while unlocking untold potential in new technologies. I’m proud to introduce this legislation in the House to ensure Americans have access to cutting-edge care that is both safe and innovative.”

Background on the Maintaining Innovation and Safe Technology Act:

Currently, the FDA has approved over 882 devices that use AI or machine learning to treat, diagnose, and care for patients.

New FDA-approved bionic pancreas uses AI to help type 1 diabetes patients

Annalise.ai Receives FDA Clearance and Breakthrough Device Designation

AI-developed blood test can predict Parkinson’s seven years early

Apple Watch’s afib-tracking app certified by FDA for use in clinical studies

Using 2019 Census Bureau data, spending on medical and in-vitro diagnostics totaled $199.1 billion or 5.2% of all healthcare spending.

In 2019, Medicare expanded coverage for remote patient monitoring (RPM). From February 2020 to September 2021, general RPM use per month increased from 91 to 594 claims per 100,000 enrollees – an increase of 555%.

AI has streamlined many processes for physicians, patients, and hospitals like early diagnostics/detection, analyzation of comprehensive data sets, and medication management.

The full text of the bill can be found here.

Congressman David Schweikert serves on the Ways and Means Committee and is the current Chairman of the Oversight Subcommittee. He is also Vice Chairman on the bicameral Joint Economic Committee chairs the Congressional Valley Fever Task Force; he is also Republican Co-Chair of Blockchain Caucus Telehealth Caucus Singapore Caucus Caucus on Access Capital Credit.

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