FORWARDED MESSAGE FROM VGM
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Has CMS just overplayed their hand?
Been awarded a Round 2 contract? Estimate the financial effect now!
Yesterday's announcement of bidding payment amounts for Round 2 set off a frenzy throughout the HME industry. Here are a few of the key facts:
- 867 providers nationally were offered contracts in Round 2
- The bid rates offered were very low, worse than Round 1.
- Providers who were offered contracts have generally been contacted via email already.
- If you were offered a contract you have 13 days in which to make a decision on whether or not to accept the contract and the rate.
- There are several factors to consider when you evaluate whether or not to accept the contract.
- Whether you were offered a contract or not offered a contract, these rates are going to force providers to alter their business models, adjust costs, seek additional revenue sources and consider all sorts of alternatives.
VGM stands ready and willing to assist you in any way we can. For starters, we created a helpful decision matrix worksheet tool for post round 2 financial projections. Please feel free to use the PowerPoint and spreadsheet to calculate your projected overall and individual product category financials. These results may help provide guidance in making your decision on whether or not to accept a bid offer. We will be coming out with more resources in the days and weeks ahead - news on what is happening, tools and help on better ways to do business.
For Round 2 FAQ's click here.
The effort to change competitive bidding for the better continues!
VGM is actively engaged in making sure HME providers are able to provide quality care and service to their beneficiaries. This fight continues in Washington and needs the involvement of all providers. We'll be in the middle of the fight and will help you if you want to get involved. A specific action we are taking is to compile a list of providers declining bids. If you decline the contract, please take the time to let us know that and tell us why via contacting Jamie Blomme at jamie.blomme@vmg.com. We want to use your information to educate members of congress regarding this faulty bidding system.
A call to action is necessary now! Anyone who has not yet been active in fighting competitive bidding, let this drive you to get involved. For those who have worked tremendously hard, now is not the time to throw in the towel. Continue to inform your member of Congress through resources such as calling, emailing and the use of social media about the devastating effects of competitive bidding and push for he/she to support MPP legislation. CMS may have unwittingly galvanized the industry to finally stand up and shout "Hell no- we will not go away!"
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