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Skin substitute product

A cellular, tissue, biological, or synthetic material applied to a wound, intended to remain within the wound bed, and approved under specific FDA regulations. It does not include temporary dressings, liquids, gels, or powders.

Medicare Part B

The part of Medicare that covers medically necessary doctor's services, outpatient care, durable medical equipment, and some preventive services.

Volume-weighted average

A calculation where each price is given a weight based on the quantity (volume) of items sold at that price. This means prices for items sold more frequently have a greater impact on the average.

Consumer Price Index for All Urban Consumers (CPI-U)

A measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services, used here to adjust payment amounts for inflation.

Outlier provider

In this bill, a healthcare provider who receives the highest total Medicare payments for skin substitute products, specifically identified as being in the top 3% of such providers.

Social Security Act

The federal law that established Medicare (Title XVIII) and other social insurance programs in the United States.