Medicare cuts supply prices
Patient Access Weekly Advisor, The Hill, March 26, 2008
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Taxpayers and Medicare beneficiaries could save more than $1 billion a year as the Bush administration rolls out a program created to lower spending on medical equipment, the government's top Medicare official announced Thursday, March 20.
According to an article in The Hill, CMS said that prices for these supplies will be an average of 26 percent lower under the first phase of a competitive bidding program for durable medical equipment, prosthetics, orthotics, and supplies.
In some cases, the prices based on the bids will be significantly lower than Medicare currently pays through its regulated administered pricing formula.
The new prices take effect July 1, The Hill reports.
To read more, click here.
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