Patient Access to Innovative New Technologies Act of 2024

This bill amends the Social Security Act to allow certain breakthrough medical devices to receive conditional approval for Medicare's New Technology Add-On Payment (NTAP) program, even if they are not yet approved by the FDA by the usual deadline, so that Medicare beneficiaries can access these new technologies sooner.

Sec. 2, Increasing adoption of and access to breakthrough devices: This section adds a new clause to the Medicare law. It says that a breakthrough device that is not yet approved, cleared, or authorized by the FDA by the usual deadline may still be conditionally approved for NTAP for a fiscal year, starting in the first quarter after it gets FDA approval, as long as that approval happens before July 1 of the fiscal year the applicant applied for. A breakthrough device is defined as one that the FDA has designated for expedited development and priority review and that has been approved, cleared, or authorized for that same indication. This clause is not considered an adjustment and must be implemented in a budget-neutral way. The changes take effect upon enactment and apply to breakthrough devices approved on or after July 1, 2023.