Selecting the right Fair Market Value (FMV) assessment for your product or organization is a strategic decision that can help position you for success by reducing regulatory risk.
In simple terms, FMV is the pricing for transactions between unpressured buyers and sellers that is validated by market activity.
But, as we all know, FMV is anything but simple.
Despite little concrete regulatory guidance, failing to pay FMV for services may result in noncompliance of regulatory requirements. Penalties for noncompliance could include large fines, forced divestiture of subsidiaries, exclusion from government healthcare programs, or even imprisonment.
With certain services, like Group Purchasing Organizations (GPOs), different therapeutic areas are commanding different pricing, making a specialized, therapeutic-specific FMV assessment a must.
Oncology is one therapeutic area that has experienced nearly unprecedented growth over the last few years, and oncology therapies are more detailed and complex than ever. A standard GPO FMV assessment that was good enough last year likely won’t cut it in today’s environment.
To meet client demand, Archbow Consulting has produced an Oncology GPO FMV assessment now available for purchase. The assessment includes:
Introduction to FMV
25+ fee ranges across key areas:
Fee for Service
Data Sales & Reporting
Enhanced Clinical Services
Selecting an FMV partner who adheres to the highest standards in data collection and analysis is vital. When a poor decision could result in defending your pricing in front of the OIG, committing to finding the best FMV assessment for your unique program is a no-brainer.
Learn more about our rigorous approach to producing high-quality, defensible FMV reports here.
If your oncology program is contracting with GPOs, you may need a new FMV assessment. We can help.