medicare bonds (DMEPOS Bonds)

Medicare DMEPOS Provider Requirements Medicare bonds are required for anyone manufacturing and supplying durable medical equipment, prosthetics, orthotics, and provides, or DMEPOS. The bond protects towards malpractice and fraud as well as regulates the application process. These surety bonds start at $50,000 and improve in rates for varied reasons. DMEPOS Supplier enrolling a brand new apply location must submit to the NSC a brand new surety bond or an modification or rider to the existing bond, exhibiting the brand new apply location is roofed by a further base surety bond of $50,000. Suppliers who’ve certain opposed legal actions imposed against them in the past could also be required to post the next bond amount. The final laws allow the NSC to require DMEPOS suppliers to obtain a base surety bond of $50,000 and an elevated surety bond of $50,000 for each prevalence of an hostile authorized motion within ten years previous enrollment, revalidation, or enrollment in the Medicare program. You have to contact the claims department of the surety that wrote your bond. We will provide you the contact information if you need it. We understand that certain bonds are essential to your work, and we will respond quickly to supply correct paperwork in your behalf. Contact our unbiased insurance coverage agency in Acton, Pepperell or Townsend, MA to request a bond or find answers to your questions on surety bonds, tax bonds, ERISA bonds and more. The minimum required bond quantity is $50,000, and may be increased by $50,000 for every location. The bond amount is also greater for suppliers that solely have one location if they’ve ever had an adversarial motion charged towards them. For instance, if a supplier’s billing privileges had each been revoked or suspended within the last 10 years, the provider must secure a $a hundred,000 (minimum bond quantity of $50,000 plus a further $50,000 for the opposed motion). NFP Surety has been a major supplier of the DMEPOS Surety Bond because the inception of the requirement, with rates as little as $248.00 per 12 months, with permitted credit score. Credit score points? Don’t worry. NFP Surety can get you essentially the most competitive charges, regardless of credit score. Please name (800) 863-3210 to speak with our experienced gross sales staff. For additional questions concerning licensing, please go to NFP Surety has been the main supplier of surety bonds since 1984. Let our experienced staff of bonding brokers, be sure you, and your medical enterprise is correctly protected. In a situation where the bonded customer ( principal ) fails to comply with bonding terms and necessities, the surety company is financially obligated to cowl damages as much as the bond limit (or penalty) of the bond. The surety bond principal can also be required to reimburse (or indemnify) the surety for losses paid to damaged parties. Your surety bond is only a few clicks away. Apply online here, fill in your software, and provide us with a couple of details about your medicare bond. Your … Continue reading medicare bonds (DMEPOS Bonds)