On March 15, CMS announced its new single payment amounts for durable medical equipment, prosthetics, orthotics and supplies, according to Healthcare Finance.
Here are four points:
1. CMS sent out contract offers on March 15.
2. CMS will make 12,181 contract offers to 637 bidders.
3. Prior to CMS' single payment amounts, Medicare paid for items and other supplies using a fee schedule based on supplier charges from the 1980s.
4. The fee schedule payments were much higher than CMS' updated payment amounts, which CMS estimated saved Medicare nearly $3.6 billion between 2013 and 2015.
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