WASHINGTON - Medical product makers, who long have complained about burdensome government regulations, may be in for some relief from Washington. The Republican Party election victories of last fall signaled an end to President Clinton's ambitious plan to reshape the nation's $942 billion health-care system, said Gary Robbins, a principal with Fiscal Associates Inc., an Arlington, Va.-based economic consulting firm.
The GOP, now in control of Congress, is likely to move in the direction of less regulation and sponsor measures designed to foster competition and product innovation, he added.
``They're not going to be doing any massive revision of how the industry works,'' Robbins said. ``I think that would be a good thing for the medical products industry, for sure.''
Still, despite all the talk of reform and regulation, production of key U.S. health-care products remained strong in 1994, according to the Health Care Technology Institute of Alexandria, Va.
Production of surgical instruments, electromedical devices and other critical supplies surged 8.8 percent to $54.3 billion last year, the institute said.