CMS (Centers for Medicare & Medicaid Services) progresses claims processing scheme with overseer nominations:
This article was originally published in Clinica
Executive Summary
The US Centers for Medicare & Medicaid Services (CMS) has selected four specialty contractors via competitive bidding to handle the administration of $542m in combined claims from suppliers of durable medical equipment, prosthetics and orthotics. The winning contractors include: National Heritage Insurance, AdminaStar Federal, Palmetto Government Benefits Administrator and Noridian Administrative Services. Each contractor will assume full responsibility for claims processing work beginning on July 1, and will be able to renew their contracts in four one-year segments before being subject to competitive bidding again. To earn award fees from Medicare, the contractors will have to meet or exceed certain performance requirements that include enhanced provider customer service, increased payment accuracy, improved provider education and training, and cost savings resulting from efficiencies and innovation. CMS said it intends to issue 23 contracts by 2011 as required under the contracting reforms in the Medicare Prescription Drug Improvement and Modernization Act of 2003.
You may also be interested in...
Pink Sheet Podcast: Leqembi Spending, Woodcock’s Next Act, Pneumococcal Vaccine Development
Pink Sheet editors discuss Medicare spending projections for the Alzheimer’s treatment Leqembi, Janet Woodcock’s new post-FDA role, and ongoing preparations for new pneumococcal vaccines that will reach the market soon.
Investors Go Berserk For Viking, Putting It Top Of Q1 Winners
The top 10 biggest share price winners and losers in Q1 from Evaluate show the investor frenzy for obesity drugs continues, while companies with governance doubts see shareholders retreat.
EU Consults On What Constitutes Personal & Commercially Confidential Data In Marketing Applications
Based on their experience with dealing with requests for access to documents over the past 12 years, EU regulators have proposed updating their guideline that provides for a harmonized approach to protecting personal data and business secrets in marketing authorization applications.