The Durable Medical Equipment Greedy Williams Jersey , Prosthetics , Orthotics and Supplies Competitive Bidding program (CBP) was mandated by the Congress Through the Medicare prescription Drug, Improvement and Modernization Act of 2003 (MMA). It essentially implies that Medicare has replaced the current fee schedule payment method for the selected items with a competitive bid process.
鈥?The intention is in improving the effectiveness of the Medicare methodology for setting the DMEPOS payment amounts helping in reducing the out of pocket expenses of the beneficiary while simultaneously saving the program money of the Medicare. 鈥?Under this program, a competition is conducted among the suppliers in a particular competitive bidding area. Although David Njoku Jersey , it is said that bids are assessed based on the eligibility of the suppliers as well as financial stability and the best bid price, it is not true! Ultimately, contracts get awarded to the Medicare suppliers that meet the applicable financial as well as quality standards and offer the best price. 鈥?The bid price amount is paid to the contracted supplier which is derived from the median of all the winning bids for a particular item. Whether or not it is intentional, the Center for Medicare and Medicaid Services appears to be a lobbied up compromise that has resulted in a government price setting scheme. Apparently Myles Garrett Jersey , the fight on who gets the chance to sell crutches for hundreds of dollars as well as wheelchairs for thousands is definitely worth a battle! As a DME supplier, you have to set your standards, look for avenues that will help you in winning the bid and gaining a clear competitive advantage!
Is outsourcing of your DME billing a pertinent idea Of course, one of the clear cut advantages that you can win over with outsourcing will be immediate reduction of your operational expenses. On an estimate Nick Chubb Jersey , only 1000 of the 25000 bids crosses the line, you have to set your standards high to meet the financial standards. The biggest advantage that a dedicated healthcare revenue cycle management company will be providing you is accountability and value with your DME billing, yielding consistent and quick reimbursements. SunKnowledge Services Inc: The ultimate DME Billing destination Over 100 references, end to end stand alone DME billing support Denzel Ward Jersey , handling CPAP compliance activities with functional best practices, SunKnowledge Services Inc , is a next gen DME billing company. We are currently working with major industry participants in the DME space.