H.R.6490 - Medicare DMEPOS Market Pricing Program Act of 2012112th Congress (2011-2012)
|Sponsor:||Rep. Price, Tom [R-GA-6] (Introduced 09/21/2012)|
|Committees:||House - Energy and Commerce; Ways and Means|
|Latest Action:||09/21/2012 Referred to House Ways and Means (All Actions)|
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Summary: H.R.6490 — 112th Congress (2011-2012)All Information (Except Text)
Introduced in House (09/21/2012)
Medicare DMEPOS Market Pricing Program Act of 2012 - Amends part B (Supplementary Medical Insurance) of title XVIII (Medicare) of the Social Security Act to direct the Secretary of Health and Human Services (HHS) to establish a market pricing program for durable medical equipment (DME), prosthetics, orthotics, and supplies (DMEPOS) as a replacement for the competitive acquisition program for DMEPOS, which is hereby terminated.
Directs the Secretary to: (1) conduct annual market-priced auctions from among entities supplying market priced items and services in an eligible market area selected in the auction design, (2) establish a lead product for each of specified product categories, and (3) award a contract to any entity in an eligible market area in which an auction is conducted whose bid is below a clearing price equal to the highest cost bid that will meet capacity targets in the market area.
Requires the Secretary to contract with an auction expert to assist in, and a market monitor to monitor, the design, development, and functioning of the auction.
Adjusts the covered DME item update for 2012 through 2014 and each subsequent year.