S. 2416 117th Congress Senate

NOVEL Act of 2021

Official title: A bill to amend title XVIII of the Social Security Act to provide for expedited coding and coverage of novel medical products, and for other purposes.

Introduced: July 21, 2021 See on congress.gov

Health Drug safety, medical device, and laboratory regulationDrug therapyGovernment information and archivesHealth care costs and insurance

More subjectsShow fewer subjects

Health care coverage and accessHealth technology, devices, suppliesManufacturingMedicarePublic participation and lobbying

Everywhere this bill has been 2 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Jul 21, 2021

Read twice and referred to the Committee on Finance.

Jul 21, 2021

Introduced in Senate

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Latest action July 21, 2021

Read twice and referred to the Committee on Finance.

Plain-English summary Congressional Research Service

New Opportunities for Value that Extend Lives Act of 2021 or the NOVEL Act of 2021

This bill establishes a process for expediting the assignment of Healthcare Common Procedure Coding System (HCPCS) codes to medical products that have been designated as a breakthrough product or regenerative advanced therapy by the Food and Drug Administration; it also establishes a process for determining coverage under Medicare of such breakthrough products that have been assigned HCPCS codes.

Bill text 1 version