COVID-19 Vaccine Alert: CMS Increases Payment Rates for COVID-19 Vaccinations
We previously highlighted CMS’s pharmacy reimbursement rates for administration of the COVID-19 vaccine. At that time, CMS detailed the Medicare payment rates for COVID-19 vaccine administration were $28.39 to administer single-dose vaccines and $16.94 and $28.39 respectively for a vaccine requiring a series of 2 or more doses, with the higher rate designated for the final dose in the series.
Last week, CMS issued an update to the Medicare COVID-19 vaccine payment rates. CMS has increased the Medicare payment amount for administering the COVID-19 vaccine to support provider actions designed to increase the number of vaccines they can furnish each day. As of March 15, 2021, the new Medicare payment rate for administering a COVID-19 vaccine will be approximately $40 for each dose of the vaccine. The update removes the different pricing structures for a single-dose and a multi-dose vaccine. As with the older reimbursement rates, CMS will geographically adjust the new reimbursement rate based on where the provider furnishes the service.
How Frier Levitt Can Help
If you have any questions regarding how to best position your pharmacy to access the vaccine supply and administer the vaccine, please contact us to speak to an attorney today. We also have a specific team of Frier Levitt attorneys who are actively working on assessing regulatory, legislative, and other governmental updates related to COVID-19 and are prepared to assist clients.