CBIC Releases Round 2021 Scoring Details
New fact sheet outlines CMS’s methodology for computing its financial rating for providers participating in competitive bidding.
- By David Kopf
- Jul 18, 2019
The Competitive Bidding Implementation Contractor (CBIC) updated its website to add a Financial Scoring Methodology fact sheet, which provides information about Round 2021’s financial scoring process used to evaluate a bidder’s financial health.
CMS uses the financial documents required from bidders to calculate standard accounting ratios for each bidder. CMS uses these ratios, along with credit reports and numerical credit scores or ratings, to evaluate a bidder’s financial health.
“This is significantly more detailed information about how CMS assesses bidders’ financial data than the Agency has previously provided,” a statement from the American Association for Homecare read. “AAHomecare has consistently advocated for increased transparency in the bidding process, and we are encouraged by this step forward.”
The fact sheet details the methodology CMS uses to compute a financial score for each bidder. CMS says its methodology for evaluating bidders’ financial health has remained consistent throughout the bid program.
David Kopf is the Executive Editor of HME Business and DME Pharmacy magazine. Follow him on Twitter at @postacutenews.