CBIC Releases Round 2021 Scoring Details

New fact sheet outlines CMS’s methodology for computing its financial rating for providers participating in competitive bidding.

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.

About the Author

David Kopf is the Executive Editor of HME Business and DME Pharmacy magazine. Follow him on Twitter at @postacutenews.

Comments

Add your Comment

Your Name:(optional)
Your Email:(optional)
Your Location:(optional)
Comment:
Please type the letters/numbers you see above
Podcast with Dr. David White

Subscribe to e-Source

HME Business' free email newsletter keeping you up-to-date and informed.

I agree to this site's Privacy Policy