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Study: Bidding design has 'potential for disaster'

June 5, 2012HME News Staff

PASADENA, Calif. - Medicare's competitive bidding "fails to generate competitive prices…and fails to satisfy demand," says a new study from Caltech.The study, published in the May issue of The Quarterly Journal of Economics, was done by Charles Plott, a professor of political science and economics at Caltech, and students Brian Murlob and Yuanjun Zhang. The study makes the case that the auction structure, as it currently stands, doesn't work for two key reasons: The selling price is set at the...

Caltech, Competitive Bidding, Home Medical Equipment (HME)