FDA Medical Device Approval

The New York Times today has an article on approval of medical devices.  The take is that venture capitalists want a more efficient process.  The tradeoff mentioned is between faster approval for investor returns versus safety of devices if they are approved faster.  There is no mention in the article of the benefits to patients and consumers of more rapid availability of medical devices.  The entire literature following the Peltzman analysis delays in drug approval is totally ignored.