{"id":1716,"date":"2016-08-06T21:28:03","date_gmt":"2016-08-06T21:28:03","guid":{"rendered":"http:\/\/suretyone.com\/blog\/?p=1716"},"modified":"2017-04-15T19:50:28","modified_gmt":"2017-04-15T19:50:28","slug":"dmepos-surety-bond","status":"publish","type":"post","link":"https:\/\/suretyone.com\/blog\/dmepos-surety-bond\/","title":{"rendered":"DMEPOS Surety Bond Requirements"},"content":{"rendered":"

Effective May 4th, 2009, the U.S. Department of Health and Human Services (DHHS), Medicaid and Medicare Services instituted new protocols for obtaining billing privileges which included a DMEPOS surety bond<\/strong>. Pursuant to federal code\u00a0\u00a7424.58<\/a>, a\u00a0DMEPOS supplier means a supplier of durable medical equipment, prosthetics, orthotics and the like, that has been accredited by a recognized\u00a0independent accreditation organization approved by\u00a0the DHHS. Those suppliers that do not provide a DMEPOS bond cannot achieve approval and cannot\u00a0receive Medicare Part B billing authorization.<\/p>\n

Subsection (ii) of the Federal Code states that, a supplier that seeks to become an enrolled DMEPOS supplier through a purchase or transfer\u00a0of assets or ownership interest or by formation of a new entity must submit a surety bond from a\u00a0surety company approved by the U.S. Treasury in the amount of\u00a0of $50,000 and if required by the National Supplier Clearinghouse (NSC)\u00a0an elevated bond amount.\u00a0A\u00a0supplier enrolling a NEW\u00a0office\u00a0location must a new DMEPOS surety bond\u00a0or a rider to the existing bond\u00a0in an additional\u00a0$50,000. The issuance of a “National Provider\u00a0Identifier (NPI)” is the trigger for increased bond requirements. For example, $50,000 is required for each\u00a0NPI\/practice location\u00a0except for sole-proprietorships,\u00a0so as supplier with five locations would necessarily provide a $250,000 surety bond or five $50,000 bonds. The bond must be written as a continuous obligation and\u00a0on its face reflect the requirements of the Code. The surety bond must guarantee that the surety will, within thirty\u00a0days of receiving written notice from the CMS containing sufficient evidence to establish the\u00a0surety’s liability for\u00a0unpaid claims, CMPs, or assessments, pay the CMS a total of up\u00a0to the face\u00a0amount of the bond in the following amounts:
\n(A) The amount of any unpaid claim, plus accrued interest, for which the DMEPOS supplier is\u00a0responsible.
\n(B) The amount of any unpaid claims, CMPs, or assessments imposed by CMS or OIG on the\u00a0DMEPOS supplier, plus accrued interest.<\/p>\n

The DMEPOS supplier may cancel the bond by providing written notice of at least 30 days before the effective date\u00a0of the cancellation to the NSC. Likewise the surety may notice cancellation by written notification. The supplier’s privilege is revoked upon notice until new financial assurance is provided. The original surety CONTINUES to be responsible for claims incurred until such replacment security is received.\u00a0The CMS or any contractor of the CMS may claim agains the DMEPOS surety bond<\/strong>.\u00a0A supplier that obtains a replacement surety bond from a\u00a0different surety to cover the remaining term of a previously obtained bond must submit the new\u00a0surety bond to the NSC at least 30 days prior to the expiration of the previous DMEPOS\u00a0bond. There\u00a0can\u00a0be no gap in the coverage of the bonded\u00a0periods. If a gap in coverage exists, the NSC\u00a0will\u00a0not pay for any items or services provided\u00a0by\u00a0the\u00a0supplier during that period. If a replacment bond is posted\u00a0during the term of the original bond, then the new surety is\u00a0liable\u00a0for any overpayments, CMPs, or assessments incurred by the supplier beginning with\u00a0the effective date of the new DMEPOS surety bond. Subsection (15) of the Code does allow an exemption of the federal requirement if the supplier is licensed under a state statute and provides a sufficiently similar bond to that respective state OR if the provide meets certain criteria as a physician or occupational therapist.<\/p>\n

Surety bond leader, Surety One, Inc.<\/a> offers immediate approval of your DMEPOS\u00a0bond request. Our special programs afford each applicant bonding capacity regardless of credit and\/or financial condition. Operating in multiple states or multiple locations? No problem! We offer surety bonds in all states and offer fidelity bond coverages for this class of business. Visit us at SuretyOne.com<\/a>, call (800) 373-2804, or email us at Underwriting@SuretyOne.com for a DMEPOS\u00a0bond application or for information on any surety need.<\/p>\n

#dmepos #dmeposbond #DHHS #suretybond #suretybonds #SuretyOne<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Effective May 4th, 2009, the U.S. Department of Health and Human Services (DHHS), Medicaid and Medicare Services instituted new protocols for obtaining billing privileges which included a DMEPOS surety bond. Pursuant to federal code\u00a0\u00a7424.58, a\u00a0DMEPOS supplier means a supplier of… Continue Reading →<\/a><\/p>\n","protected":false},"author":1,"featured_media":1717,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"image","meta":[],"categories":[139],"tags":[2076,2080,2081,2082,2083,2077,2078,2079,2066,1734,1871,51,2175],"yoast_head":"\nDMEPOS Surety Bond Requirements • Surety One, Inc.<\/title>\n<meta name=\"description\" content=\"The U.S. Department of Health requires a DMEPOS surety bond from all suppliers that seek accreditation and Medicare billing privileges.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/suretyone.com\/blog\/dmepos-surety-bond\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"DMEPOS Surety Bond Requirements • Surety One, Inc.\" \/>\n<meta property=\"og:description\" content=\"The U.S. Department of Health requires a DMEPOS surety bond from all suppliers that seek accreditation and Medicare billing privileges.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/suretyone.com\/blog\/dmepos-surety-bond\/\" \/>\n<meta property=\"og:site_name\" content=\"Surety One, Inc.\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Surety1\/\" \/>\n<meta property=\"article:author\" content=\"https:\/\/www.facebook.com\/Surety1\" \/>\n<meta property=\"article:published_time\" content=\"2016-08-06T21:28:03+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2017-04-15T19:50:28+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/suretyone.com\/blog\/wp-content\/uploads\/DMEPOS-Bond.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"627\" \/>\n<meta name=\"twitter:card\" content=\"summary\" \/>\n<meta name=\"twitter:creator\" content=\"@SuretyOne\" \/>\n<meta name=\"twitter:site\" content=\"@SuretyOne\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"C. 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