Tag: savings
Plans buy into insulin savings model
May 27, 2020HME News Staff
WASHINGTON - More than 1,750 standalone Medicare Part D prescription drug plans and Medicare Advantage plans with prescription drug coverage have applied to offer lower insulin costs through the Part D Senior Savings Model for 2021. Across the nation, participating enhanced Part D prescription drug plans will provide Medicare beneficiaries access to a broad set of insulins at a maximum $35 co-pay for a month's supply from the beginning of the year through the Part D coverage gap. Based on CMS's estimates,...
Invacare confirms move to France
February 13, 2018HME News Staff
ELYRIA, Ohio - Invacare will transfer production of Küschall manual wheelchairs from its facility in Witterswil, Switzerland, to its facility in Fondettes, France, by the end of the third quarter of this year. The move, which will allow the company to better optimize its facility in France, is expected to generate an incremental$1.7 million in annualized pre-tax savings in the Europe business segment. The front office of the Swiss facility will remain open, continuing to serve as Invacare's European...
OIG once again highlights savings associated with bid program
October 8, 2015HME News Staff
WASHINGTON - Four states could have saved an additional $12 million on certain DME items by using pricing comparable to Round 2 of competitive bidding and the national mail-order programs, according to a recent report from the Office of Inspector General.In previous audits, the OIG found the states could have saved $18.1 million with pricing comparable to Round 1.“We determined that opportunities exist for these states to lower provider reimbursement rates, resulting in approximately $30.1...
OIG certifies CMS's fraud savings
July 16, 2015HME News Staff
WASHINGTON - The Office of Inspector General has certified $133.2 million of actual and projected savings from CMS's Fraud Prevention System, a return of investment of $2.84 for every dollar spent on the system. The OIG also certified $454 million in unadjusted savings identified by the system. The Small Business Jobs Act of 2010 requires the OIG to certify the actual and projected savings related to the system for each of its first three years. This most recent report fulfills the OIG's responsibilities...
Fraud efforts recover $3.3B
March 20, 2015HME News Staff
WASHINGTON - The government's healthcare fraud prevention and enforcement efforts recovered $3.3 billion in taxpayer dollars in fiscal year 2014, the Justice and Health and Human Services departments announced March 19. For every dollar spent on health care-related fraud and abuse investigations in the last three years, the government has recovered $7.70—the third highest return on investment since the Health Care Fraud and Abuse Control Program was established in 1997, according to the...
U.S. leads 'telehealth craze'
February 8, 2013HME News Staff
EL SEGUNDO, Calif. - The number of patients in the U.S. using telehealth services is set to grow to 1.3 million in 2017 up from 227,000 in 2012, according to a new report from IMS Research. Revenue from telehealth in the U.S. is set to rise to $707.9 million in 2017, up by a factor of four from $174.5 million in 2012, according to IMS, which is now part of IHS. The U.S. now represents nearly 75% of the worldwide population using telehealth. With a focus on trimming healthcare costs, IMS believes...
CMS charges ahead with Round 1 'recompete'
April 18, 2012HME News Staff
BALTIMORE - CMS late yesterday announced plans to “recompete” contracts for the nine areas included in Round 1 of competitive bidding.The agency plans to announce a schedule and begin registration this summer. It plans to open bidding this fall.The affected product categories are:— Respiratory Equipment and Related Supplies and Accessories (Includes oxygen, oxygen equipment, and supplies; continuous positive airway pressure (CPAP) devices, respiratory assist devices...