The Medicare Modernization Act of 2003 calls for competitive bidding of Durable Medical Equipment, Prosthetics, Orthotics and Supplies beginning in 2007. This paper attempts to evaluate the impact of of this change on the companies manufacturing Durable Medical Equipments (DMEs)…
The new rates that have evolved from the bidding system are initially meant for ten metropolitan areas, but will soon be extended to other areas and possibly nationwide. Information of the cuts in the reimbursement indicate steep reimburse cuts for oxygen and oxygen equipment at 30% and sleep apnea products at 29%. This is likely to cause revenue return issues for companies like Apria Healthcare Group Inc and Lincare Holdings Inc, who market oxygen equipment and ResMed Inc marketing sleep apnea products. The average reimbursement cuts for DMEs is 26%, which has significant implications for the bottom line of companies dealing with DMEs (U.S. Medicare cuts oxygen, apnea pay rates). The relevance of the study of this issue lies in these implications for the DME markting organizations and the consequent fall-out on the many senior and disabled citizens dependent on Medicare for access to DME to assist them through their difficulties.
Consequent to the provisions of Medicare Part B mandatory accreditation and competitive bidding have become a part of the supply procedures at the Centers of Medicare and Medicaid throughout the ten major metropolitan areas that have selected for implementattion of these new procedures with regard to DMEs. The category of products affected by the complicated adjudication protocols as necessitated by Medicare Part B include DMEs, prosthetics and orthotics, commencing from the beginning of 2007 (Johnson, 2007).
From the companies marketing DMEs and the chain retail pharmacies involved in making available DMEs for purchase the stumbling blocks lie in the administrative burden involved in the bidding process and the crippling $65,000 bond to participitate in the bidding process. These two hindrances may well cause many of the retail pharmacies to opt out of serving patients in this segment of health care and for the DME marketing companies there is the definite possibility of reduced revenue generation, ...
Cite this document
(“Effects of Medicare cutbacks for dme companies and patients Essay”, n.d.)
Retrieved from https://studentshare.net/miscellaneous/347897-effects-of-medicare-cutbacks-for-dme-companies-and-patients
(Effects of Medicare Cutbacks for Dme Companies and Patients Essay)
“Effects of Medicare Cutbacks for Dme Companies and Patients Essay”, n.d. https://studentshare.net/miscellaneous/347897-effects-of-medicare-cutbacks-for-dme-companies-and-patients.
Ginseng or Panax belongs to the family Araliaceae and has two of the major species namely P. quinquefolius L and P. ginseng CA Meyer, indigenous to North America and Asia respectively. Both the species have similar compositions, though slightly different in their effects (Vuksaan et al., 2000).
The program works by providing reimbursement for the services and expenses occurred by inpatient care, doctors services, outpatient care and prescriptions . Individuals pay premiums to be part of the insurance system. This is often provided as part of employment , with spouses also being covered on many occasions .
Bush passed into law in the November of 2003. This law has made the most far reaching changes to Medicare since the creation of the program in 1965. This paper addresses the numerous questions with respect to MMA. Why Changes To Medicare Were Deemed Necessary?
All businesses irrespective of the industry must consider the need to improve the quality of their services for them to realize better profits. This is important in increasing the market segment and in gaining control on the industry trends. More importantly, the business must constantly evaluate the environment in which it operates to formulate policies consistent with the expectation of the market.
The health sector is in a major turmoil due to loss of funds and credibility because of Medicare fraud. In order to analyze the problem and its causes, different stakeholders in the healthcare sector are interested in establishing the extent and the social implication of the problem.
Zwick was hospitalized for mild stroke for 5 days she also qualifies for SNF (Skilled Nursing Facility). Part A is activated when the doctor has ordered the inpatient treatment of an illness and it can only be treated in hospital. Mrs. Zwick is eligible for the SNF since she needed daily skilled care and had developed a hospital related medical condition.
Initially it seemed that the Act was appreciated by working class citizens, disabled and retired personnel, however after certain time frame when people started experiencing the Act they realized it was not what was expected from the Government.
The Act is not accepted open heartedly by most of the working class individuals and those who are a member of American Association of Retired Persons (AARP) 2 as it seems convenient to most of the people to acquire benefit from the Act according to their income and affordability.
Medicare coverage is not complete as it covers a portion of the cost of health care and the cost of long-term care (Social Security Online, 2010). This program is financially supported by payroll taxes which are paid by workers and employees and also by the monthly
Federal officials have apprehended 16 Metro Detroit heath care officials for being involved in kickback schemes and fraud that amounts to $122 million. The apprehension has been termed as the largest takedown associated with Medicare fraud.
4 Pages(1000 words)Essay
GOT A TRICKY QUESTION? RECEIVE AN ANSWER FROM STUDENTS LIKE YOU!
Let us find you another Essay on topic Effects of Medicare cutbacks for dme companies and patients for FREE!