Business Update

BioScrip named national vendor for Medicare Part B

Published in Biotech Law Weekly, May 26th, 2006

BioScrip, Inc., (BIOS) has been selected by Centers for Medicare and Medicaid Services (CMS) as the national vendor for the initial phase of the new Competitive Acquisition Program (CAP) for certain Part B drugs and biologicals commencing July 1, 2006.

Under this new program, participating physicians will obtain Medicare Part B-covered drugs and biologicals from BioScrip and administer them to the beneficiary, rather than purchasing them from distributors and being reimbursed by Medicare. BioScrip will be responsible for billing Medicare for the drug, collecting the coinsurance from the beneficiary, and other administrative tasks. The CAP, which was mandated by the...

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Source: Biotech Law Weekly (2006-05-26)

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