New Mexico DMEPOS Bond | AmeriPro Surety Bonds | 844-589-9732
New Mexico DMEPOS
DMEPOS is a federally mandated program allows medical suppliers to provide equipment to recipients of Medicare and/or Medicaid.
The program is operated by the Center for Medicare and Medicaid Services.
DMEPOS stands for durable, medical, equipment, prosthetics and orthotics, supplies.
Although the program is federally mandated, there are individual state regulations which require compliance in addition to the federal mandate.
DMEPOS State Rules in New Mexico
As of this writing (August 2018) New Mexico has no particular rules which apply specifically to participants of the DMEPOS program.
As an applicant, however, you will always want to conduct your own further due diligence.
Rules and regulations which affect zoning, conducting a business, business licensing, and the like would still be applicable, of course.
New Mexico DMEPOS: Jurisdiction
Since DMEPOS is federally regulated, the government has divided the country into separate jurisdictions for MACs (Medicare Administrative Contractors).
New Mexico DMEPOS Bond
The DMEPOS program requires applicants to purchase a minimum $50,000 surety bond.
The surety bond increases in increments of $50,000.
New Mexico DMEPOS bond applicants are required to maintain a $50,000 surety bond for each National Provider Identifier that is maintained in the state.
An exception to this rule would be sole proprietorships would be those who operate a sole proprietorship.
Purpose of the New Mexico DMEPOS Bond
In the early 2000’s the federal government witnessed many instances of fraud by unscrupulous medical suppliers which cost the government many millions of dollars.
In 2009, the requirement that medical suppliers obtain a minimum $50,000 DMEPOS surety bond was mandated.
The DMEPOS bond protects against acts of fraud, theft, and acts of malfeasance which a supplier may commit in the course of their duties.
The bond is purchased by the DMEPOS business (the principal) to protect the federal (the obligee).
It is a policy purchased to protect the interests of the federal government via Medicare and Medicaid.
Cost of the New Mexico DMEPOS Bond
The cost of the New Mexico DMEPOS bond will depend on the face amount of the bond purchased (again, depending on the number of NPI’s) and an applicant’s credit score.
A $50,000 DMEPOS bond can have an annual premium as low as $250!
Duration of the New Mexico DMEPOS Bond
The DMEPOS bond is renewed on an annual basis.
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