Medicare Competitive Bidding Needs Makeover, Study Says

Law360, Washington (July 5, 2012, 6:41 PM EDT) -- The Centers for Medicare and Medicaid Services' competitive bidding system has failed to create a stable economic environment for home medical equipment and needs to be altered immediately, an economic study released Thursday said.

The study, developed by California Institute of Technology economics professor Charles R. Plott, claims a marketing pricing program would better serve the Medicare community by establishing market-based prices for home medical equipment rather than relying on a controversial, nonbinding bidding process to determine equipment value.

Competitive bidding was rolled out last year...
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