Medicare DMEPOS Market Pricing Program Act of 2012
Medicare DMEPOS Market Pricing Program Act of 2012 - Amends part B (Supplementary Medical Insurance) of title XVIII (Medicare) of the Social Security Act to direct the Secretary of Health and Human Services (HHS) to establish a market pricing program for durable medical equipment (DME), prosthetics, orthotics, and supplies (DMEPOS) as a replacement for the competitive acquisition program for DMEPOS, which is hereby terminated.
Directs the Secretary to: (1) conduct annual market-priced auctions from among entities supplying market priced items and services in an eligible market area selected in the auction design, (2) establish a lead product for each of specified product categories, and (3) award a contract to any entity in an eligible market area in which an auction is conducted whose bid is below a clearing price equal to the highest cost bid that will meet capacity targets in the market area.
Requires the Secretary to contract with an auction expert to assist in, and a market monitor to monitor, the design, development, and functioning of the auction.
Adjusts the covered DME item update for 2012 through 2014 and each subsequent year.
Referred to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.