DMEPOS Surety Bond
What is a DMEPOS surety bond?
DMEPOS stands for “Durable Medical Equipment, Prosthetics, Orthotics, and Supplies.” The Centers for Medicare & Medicaid Services (CMS) requires accredited suppliers to obtain a DMEPOS bond to bill Medicare properly. The bond protects Medicare and Medicaid programs from fraud and malpractice by physicians and medical practitioners. Some refer to these bonds as Medicare bonds or Medicaid bonds.
DMEPOS Surety Bond Requirements
The CMS requires suppliers to maintain a DMEPOS surety bond worth $50,000 minimum at every practice location. The bond will run until canceled.Get Your DMEPOS Surety Bond:
Quick Takeaways
- A DMEPOS bond protects Medicare and Medicaid programs against fraud and malpractice by physicians and medical practitioners.
- The bond ensures that organizations follow DMEPOS supplier standards and the fee schedule.
- The CMS requires suppliers to maintain a DMEPOS surety bond worth $50,000 minimum at every practice location.
- If you have excellent credit, you might expect to pay anywhere from less than 1% to up to 3% of the total bond amount.
Who needs a DMEPOS surety bond?
Before applying for CMS accreditation or enrolling in Medicare billing, DMEPOS suppliers need this bond. It can help reduce billing fraud and ensure that organizations follow DMEPOS supplier standards and the fee schedule. To maintain billing privileges, you must comply with the supplier standards found in the Code of Federal Regulations, Part 424, Section 57. Any supplier that sells or rents items that fall under Medicare Part B must post this bond. Suppliers must also post a bond at every National Provider Identifier (NPI) location at which they operate. This helps protect taxpayers against illegal practices.
How much do DMEPOS bonds cost?
Your annual premium may depend on your credit score. If you have excellent credit, you may expect to pay anywhere from less than 1% to up to 3% of the bond amount (which is $50,000). Therefore, you could pay as little as $500 or less per year for your bond. If your score is low, you could pay upwards of 10%.
How to Become a DMEPOS Supplier
To receive Medicare reimbursement for DMEPOS, you must follow these steps.
- Obtain DMEPOS accreditation from an organization approved by the CMS.
- Get an NPI for every practice location (through the National Plan & Provider Enumeration System).
- Complete an online enrollment application.
- Pay a Medicare application fee.
- Contact the National Supplier Clearinghouse (NSC) to determine your enrollment status.
- Post a DMEPOS surety bond for each NPI.
The following professionals are eligible for DMEPOS accreditation.
- Physicians
- Physicians’ assistants
- Certified nurse-midwives
- Certified registered nurse anesthetists
- Nurse practitioners
- Qualified speech-language pathologists
- Qualified audiologist
- Registered dieticians
- Physical therapists
- Clinical psychologists
- Clinical nurse specialists
- Clinical social workers
- Nutritional professionals
- Occupational therapists
Get a DMEPOS Surety Bond in Your State
We can help you find the right surety bond for your DMEPOS supplier business. ZipBonds offers the fastest and most secure option for acquiring license and permit bonds. Our all-digital platform is intuitive and straightforward. Apply online or call us at 888.435.4191 to speak with an agent directly.
About ZipBonds.com
Founders Ryan Swalve and Zach Mefferd formed the vision for ZipBonds.com when they realized how overly complicated it was to help clients place surety. The frustration of being unable to incorporate the technology they’d used in other insurance-focused projects left them thinking “there has to be a better way.”
Fast forward a couple of years, and that better way is the impetus of everything we do at ZipBonds. We constantly look for innovative ways to improve the bonding process for our clients and agents. Our team comprises individuals who understand all angles of surety – for companies, agencies, and individuals. Incorporating everyone’s point of view to improve the process while simultaneously integrating cutting-edge technology is what sets our business apart.