Healthcare Financial News

The Senate today voted against permanent repeal of Medicare's payment formula for doctors, with lawmakers balking at the legislation's $247 billion 10-year price tag. The bill was introduced last week by Sen. Debbie Stabenow (D-Mich.).

“Congress created the Medicare physician payment system, and Congress needs to fix this problem once and for all to fulfill its obligation to seniors, baby boomers, and military families,” said American Medical Association president J. James Rohack, MD, in a statement issued after the vote. Permanent repeal of the Medicare physician payment formula is essential to comprehensive health system reform.”

A 21 percent cut in Medicare payments to physicians is currently scheduled for Jan. 1.

Medicare-approved medical equipment suppliers have 60 days in which to submit bids for the Round One Rebid of the Medicare Competitive Bidding Program for durable medical equipment, prosthetics, orthotics, and supplies (DMEPOS) in nine communities.

The Centers for Medicare & Medicaid Services (CMS) today began accepting bids from accredited and bonded medical equipment suppliers after modifying the program and conducting a supplier outreach and education effort.  Currently, 93 percent of all medical equipment suppliers across the country—including those in the competitive bidding areas—have met Medicare’s accreditation requirements.

The Round One Rebid will include the same items as the first Round One except negative pressure wound therapy items and Group 3 complex rehabilitative power wheelchairs will be excluded.

Beneficiaries living in the competitive bidding areas won’t need to take any action before the program begins in 2011.

Read the CMS press release.