Adds a new subsection (aa) to 42 U.S.C. 1395m establishing special payment rules for skin substitute products, including identification of outlier providers, prepayment claim review, prior authorization with associated funding transfers, enrollment revocation/exclusion triggers, wastage payment rules, and a definition for skin substitute products.

Amends subsection (s)(2) by adjusting punctuation/wording at specified subparagraphs and inserting a new subparagraph (KK) to add 'skin substitute products' (as defined in section 1847A(c)(6)(J)) to the enumerated items under that subsection.

Amends section 1847A to add coverage and a payment methodology for skin substitute products, including (a)(1) applicability to skin substitute products furnished on or after Jan 1, 2026; (b) addition of paragraph (9) establishing an initial 2026 payment equal to a volume-weighted average based on the April 2023 ASP Pricing File and annual CPI-U updates beginning in 2027; adds a new definition of 'skin substitute product' at subsection (c)(6)(J); and makes a related insertion in subsection (f)(2)(A).

Amends section 1833(a)(1) (42 U.S.C. 1395l(a)(1)) by modifying subparagraph (S)(i) to add a cross-reference to a new subparagraph (II) (changing 'subject to subparagraph (EE)' to 'subject to subparagraphs (EE) and (II)') and by editorial adjustments to parenthetical references.