They are also required to maintain an Oregon DMEPOS bond for at least $50,000.
DMEPOS is an acronym for durable, medical, prosthetics, and orthotics suppliers.
This federally mandated plan allows suppliers of medical equipment to provide these item to those who participate in Medicare or Medicaid (for the latter, the states which participate in this program).
Though the program is federally mandated, individual states can make rules which relate to to DMEPOS participates within their authority.
The state of Oregon has some additional rules for DMEPOS suppliers.
In 2009, in response to excessive abuses within the Medicare and Medicaid programs (systemic over billing totaling millions of dollars in some instances), the federal government mandated that DMEPOS suppliers obtain a surety bond.
As noted, above the surety bond is for at least $50,000:
Other considerations for the surety bond requirement include:
The premium for an Oregon DMEPOS bond will be determined almost entirely by two criteria:
For example may pay as little as $250 for a $50,000 Oregon DMEPOS bond, for one year.
For a $250,000 surety, that same applicant might pay as little as $1,250 for the year.
Regardless of an applicant’s credit scoring, AmeriPro Surety Bonds will work to obtain the best pricing available.
DMEPOS bonds are issued for one year and renew on an annual basis.
At the time of the surety bond renewal, another “soft pull” credit check is run.
AmeriPro Surety Bonds thanks you for your consideration.
We know that you have a lot of good choices.
Our goal as an agency is to work for you to provide you the surety bond you require.
As such, we are a surety bond-only agency, providing, license and permit, contractor, and court bonds throughout Oregon.
We also provide surety bonds throughout all 50 states.