A process by which a contracting firm selects from among competing vendors or contractors who have submitted bids at the request of the firm. Bids are usually sealed and selection occurs through either an open bidding process, in which they are revealed in view of the bidders, or a closed bidding process, in which they are opened in a closed session. The process is designed to increase the competitiveness of pricing and minimize the preferential treatment.
Related information about competitive bidding:
- CBIC - Home
The DMEPOS Competitive Bidding Program was mandated by Congress through the Medicare Prescription Drug, Improvement, and Modernization Act of 2003 ...
- When Competitive Bidding Hurts Patients - NYTimes.com
May 15, 2012 ... If competitive bidding is predicated on supplying equipment at the lowest possible price, something has to give, and that something is patient ...
- Medicare to Expand Competitive Bidding on Equipment - NYTimes ...
Apr 18, 2012 ... The Obama administration said it would widen the use of competitive bidding to buy equipment for Medicare beneficiaries because a pilot ...
- What is competitive bidding? definition and meaning
Definition of competitive bidding: Transparent' procurement method in which bids from competing contractors, suppliers, or vendors are invited by openly ...
- Paul Ryan and the Problem With Competitive Bidding | Mother Jones
Aug 18, 2012 ... Let's recap: Ryan's plan relies on competitive bidding to hold down costs. Insurance companies bid for Medicare contracts, and seniors all get a ...
- American Association For Homecare: Competitive Bidding
"Competitive" Bidding Will Hurt Seniors & Patients. Congress must stop the Medicare “competitive” bidding program for home medical equipment and services ...
- New report: Competitive bidding saving money for taxpayers and ...
Apr 18, 2012 ... People with Medicare are already saving money on durable medical equipment ( DME) through the Medicare competitive bidding program, ...
- The MED Group | Competitive Bidding
The DMEPOS Competitive Bidding Program was mandated by Congress through the Medicare Prescription Drug, Improvement, and Modernization Act of 2003 ...