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Tuesday, July 12, 2011

SURVEY OF RETAIL PRICES: PAYMENT AND UTILIZATION RATES, AND PERFORMANCE RANKINGS

CMS is pleased to announce that Myers and Stauffer, LC has been awarded contract number CMS-2011-ACA03 entitled "Survey of Retail Prices: Payment and Utilization Rates, and Performance Rankings." This contract was awarded after a thorough national search for a well-qualified vendor. The purpose of the Survey of Retail Prices is to develop a monthly survey of retail community pharmacy prescription drug prices and the generation of publicly available pricing files. We anticipate that these files will afford State Medicaid agencies with a valid array of covered outpatient drug information, regarding retail prices for the ingredient costs of prescription drugs and consumer purchase prices for such drugs. We expect that State Medicaid agencies will be able to use this information to compare their own pricing methodologies and payments to those derived from this survey. Additionally, on an annual basis, CMS will obtain from the State Medicaid agencies information on their prescription drug payment and utilization rates and prepare a comparative report regarding the performance of the States' reimbursement prices and the national retail price data collected in the survey. 

Dallas L Alford IV, CPA is a licensed Certified Public Accountant in the state of North Carolina and owner of Atlantic Financial Consulting, a consulting firm that provides comprehensive medical billing services, practice management consulting, coding audits, Medicare compliance, Medicare RAC support and other general medical practice consulting services.
To learn more about Atlantic Financial Consulting you may visit their website at
http://atlanticfinancial.us  or contact Dallas L Alford IV, CPA directly at 1 888-428-2555, Ext. 200.

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