CMS Increases Medicare Payment for Life-Saving COVID-19 Vaccine

Today, the Centers for Medicare & Medicaid Services (CMS) announced that it is increasing the Medicare payment amount for administering the COVID-19 vaccine. This rate reflects new information about the costs involved in administering the COVID-19 vaccine for different types of providers and suppliers, and the additional resources necessary to ensure the vaccine is administered safely and appropriately. Effective March 15, 2021, the national average payment rate for physicians, hospitals, pharmacies and many other immunizers will be increased to $40 to administer each dose of any COVID-19 vaccine.  The updated payment rate for administration for each dose of any COVID-19 vaccine will be geographically adjusted and the exact rate will depend on the type of entity that furnishes the service.

The press release is attached and available here: https://www.cms.gov/newsroom/press-releases/biden-harris-administration-increases-medicare-payment-life-saving-covid-19-vaccine

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