- January 12, 2020
- Posted by: Thomas Anderson
- Categories: DME Billing, DME Billing Services
Pre Bidding Supplier Awareness Program by CMS begins on March 7, 2019. CMS announces specific dates for registration & bidding / begins bidder education program on May 2019. Bidder registration period for obtaining User ID /Passwords/Opening of the bid window will resume on June 2019.
All bidders in Round 2021 are required to obtain a bid surety bond in the amount of $50,000 for each CBA in which they submit a bid. Contracts are only awarded to bidders that meet all applicable licensing requirements by the close of the bid window. Each supplier location on a bid must be accredited by a CMS approved accrediting organization for the lead and non-lead items in a product category.
Rather than submitting individual bids for each item within a category, bidders will only submit one bid for the lead item in the product category. The suppliers bid for the lead item represents the bid for furnishing the lead item & all other items (non lead items) in the product category. Bids for the lead item in the product category will be used to calculate the SPA’s for all the items within that product category. The SPA for the lead item is the maximum bid submitted for that item by bidders whose bids are in the winning range in that CBA and product category combination.
SPA’s for the non-lead items within the product category are determined by multiplying the lead item SPA by a relative ratio. Ratios are based on the historic differences in the fee schedule amounts for the lead item and non-lead items. Introduction of lead item pricing in 2021 DMEPOS competitive bid makes it more competitive and market oriented than previous methods.
As a provider, you need to find the right partner who will make sure that you are able to bid the lowest for a product by lowering your billing costs. Ensuring a streamlined reimbursement assurance strategy will be critical for survival in the consumer minded healthcare landscape.
Why Sunknowledge for DME Billing Services
Sunknowledge will be your perfect partner for ensuring a reduction of billing costs by 70%, increase of collections by 97%. We offer stand alone/ end to end DME billing services and extend:
Our full range of services
♦ Order Entry
♦ Eligibility Verification and Authorization
♦ Doctor Office Follow-up
♦ Order Confirmation
♦ Scheduling of Delivery
Billing & Collections
♦ Creation of Claims
♦ Claims Submission & Rejections
♦ Cash Posting
♦ A/R Follow-up
♦ Rejection & Denial Management
The reason we are the best: A reliable Operational Arm
♦ Highest productivity metrics with the highest collection rate (97% guaranteed)
♦ 70% reduction in current billing cost…instantly
♦ 100’s of best clients in DME including Medtronic
♦ The lowest price/ $7 per hour/We can meet or beat any price
♦ Dedicated account manager at no cost/Unparalleled Operational transparency
♦ No binding contracts/Walk out in 30 days
♦ Errors of Omission & Commission Insurance support from Hiscox/Geico (Liability Cover of $1 million)
♦ Daily/Weekly/Monthly Customized reporting standards meeting your protocols
Looking to know more on our DME billing services, we are just a call away! Let Sunknowledge Services Inc share with you, our best practices and what difference we bring to the table as a complete healthcare revenue cycle management company.