Factors that demonstrate financially stable competitive bidders
Device Regulation Alert: Safety, Compliance and Reimbursement News, June 4, 2007
Any device supplier who wants to bid in the Medicare DMEPOS Competitive Bidding Program must submit specific financial documentation with their bid or they won't be considered for a contract under the program. CMS announced Friday, May 25 how it will judge the financial stability of device suppliers bidding under the DMEPOS competitive bidding program. CMS and its contractor will be looking to see whether the bidder can remain financially viable throughout the competitive bidding contract term.
CMS said that ten different standard accounting ratios will be used to judge the financial health of a bidder. The ratios focus on issues such as quality of earnings, working capital, collections, accounts payable and operating cash flow. The bidder's credit history will also be relevant according to CMS.
You can find CMS's announcement about financial documentation and other information concerning the DMEPOS competitive bidding program on CMS's Web site.
CMS also separately announced dates for the following bidders conferences designed to assist bidders with:
Related Products
-
ePharm5 InDepth
EPharm5 e-mail newsletter delivers the top 5 developments in pharma business innovation, with original research, interviews...
-
Big Pharma Performance Before, During and Beyond the Global Recession
This report assesses the performance of the leading 15 pharmaceutical companies up to, during and beyond the recent global...
Most Popular
- Articles
-
- Q/A: Volume requirement for reporting hydration services
- Featured blog post: Nurses face felony charges after reporting physician to the Texas Medical Board
- Catch up on what's new with injections and infusions
- Topic: CMS, OESS post new security compliance review information, checklist
- What does case-mix index mean to you?
- QA:Coding multiple initial infusions
- Capturing all necessary codes for IUD insertion and removal can be challenging
- News and briefs: Oklahoma Osteopathic Association against residency bill change
- OB services: Coding inside and outside of the package
- HIPAA Q&A: Level of encryption needed for email
- E-mailed
-
- Q/A: Volume requirement for reporting hydration services
- Featured blog post: Nurses face felony charges after reporting physician to the Texas Medical Board
- Catch up on what's new with injections and infusions
- New conflicts of interest create new challenges
- What does case-mix index mean to you?
- Joint Commission Center announces handoff communication solutions
- Inside best practice: Reduce patient falls with a stoplight
- Identify modifiable risk factors to prevent patient falls
- Hospitalist-surgeon comanagement has no effect on outcomes
- HIPAA Q&A: Level of encryption needed for email
- Searched