Guest Column: Provision of health care law will hurt Arizona’s bioscience futureIPAB in the News Friday, June 21st, 2013
Arizona Daily Star – June 18, 2013
Investors are the lifeblood of bioscience and health-care innovation.
With the need for capital increasing, new community-driven programs are emerging. Consider the Arizona Innovation Challenge, a competitive grant program from the Arizona Commerce Authority that provides $3 million annually to Arizona’s innovator companies. Or look at the plan from Phoenix-based BioAccel to award funding to companies and entrepreneurs offering groundbreaking solutions to five urgent health-care problems. Across the country, programs like these are emerging to support lifesaving and life-sustaining innovations.
But these initiatives cannot succeed alone. Without sufficient private investment capital, bioscience industry growth slows or stops.
Unfortunately, investment capital is about to become more scarce in the bioscience community. As part of the new health-care law, a body known as the Independent Payment Advisory Board (IPAB) soon will inject needless uncertainty into the life science sector – thereby hampering investment. Read More