A Durable Medical Equipment Supplier's Bond (also called a DMEPOS Bond or Medicare Bond) is a federal surety bond required by the Centers for Medicare and Medicaid Services (CMS) for suppliers of durable medical equipment, prosthetics, orthotics and supplies. The purpose of this bond is to help reduce Medicare billing fraud. Most DMEPOS suppliers must file a surety bond before they can bill Medicare. More information can be found at the Center For Medicaid and Medicare Services (CMS) Website. Certain applicants who operate in Florida may also require the Florida Home Medical Equipment Provider Bond and/or the Florida State bond for Medicaid Providers. Businesses in Texas may be subject to the additional Texas Medicaid Provider Bond and businesses in Minnesota may be subject to the Minnesota DMEPOS Bond.
Enrolled DMEPOS suppliers, subject to the bonding requirement, are required to obtain and submit a $50,000 surety bond for each National Provider Identifier number (NPI) by October 2, 2009 to the National Supplier Clearinghouse (NSC). Since DMEPOS suppliers must obtain an NPI number by practice location, except for sole proprietorships. For example, an organizational DMEPOS supplier with 20 practice locations would be required to secure a $1 million surety bond ($50,000 for each NPI number).
The bond is to protect CMS (The Centers for Medicare & Medicaid Services), and states that they will be able to recoup any losses caused by fraudulent activity or incorrect billing by the company that purchases the bond. If they feel you have wronged them in a financial matter they can file a claim with your surety company. The claim will be researched and if the surety company pays out, you must pay them back.
How to Get a DMEPOS Bond FAST!
Applying for a DMEPOS bond is rather simple. Just apply through our easy online forms and submit your bond application. We will contact you soon after with a quote on your bond. You may be asked to submit additional documentation which may be required for your specific situation.
Call our Bonds department at (800) 921-1008, if you have any questions about the application process. We’re always willing to help.
Finally, if you would like to chat with a live customer service representative to walk you through the process of applying and getting approved for a DMEPOS bond today, click the live chat button below or email our Bonds Manager at Bonds@BFBond.com