The Centers for Medicare and Medicaid services requires a $50,000 Pennsylvania DMEPOS bond for those who wish to participate in the program. AmeriPro Surety Bonds offers this bond at a very reasonable rate: 844-589-9732.
DMEPOS is a funny acronym which has a serious meaning. It means durable, medical, equipment, prosthetics, suppliers.
This federally-mandated program allows you to provide medical supplies to Pennsylvania residents who are in Medicare or Medicaid.
The program is overseen by the Centers for Medicare & Medicaid Services, CMS.
The CMS is also the obligee for this surety bond. This means that they are the organization requiring you to obtain the Pennsylvania DMEPOS bond.
Maintaining surety is a prerequisite for participation in the program.
The Pennsylvania DMEPOS bond is a $50,000 surety bond. The incremental amount for this surety bond is also $50,000.
The amount of surety bond you are required to purchase will correspond with the number of National Provider Identifier (NPI) you maintain.
If you have 5 NPI numbers, then you would be required to obtain a $250,000 DMEPOS bond.
In this example, you would purchase one $250,000 DMEPOS surety bond, not 5 separate $50,000 bonds.
Exceptions for the number of DMEPOS bonds may apply for sole proprietors; however, you will want to confirm any bond requirements directly with the CMS.
The purpose of your DMEPOS surety bond is to act as a financial guarantee that you will comply with all legal statutes which regulate your professional conduct.
The bond protects others, not your medical supplying company, from acts of fraud, theft, and criminal malfeasance as it relates to your professional duties.
In fact, in 2009, the DMEPOS bond was enacted after systemic abuse of Medicare and Medicaid by unscrupulous suppliers had been uncovered. Such abuse of the program had been going on for years.
In this connection, if you have had an adverse action taken against you by CMS within the prior 10 years, you will be required to obtain an additional $50,000 bond for each NPI location.
In other words, you will be required to post a $100,000 surety bond for each NPI location.
As an applicant for the DMEPOS bond, you can take comfort that despite the bond’s large amount, the premium --- depending on your application and credit --- may be quite reasonable.
A $100,000 DMEPOS bond may cost as little as $500 annually; a $500,000 DMEPOS bond may cost as little as $2,500 annually.
The amount you will pay, however, will be determined by:
Once the bond has been issued, the premium renews annually. The bond must be maintained at all times to remain a participant in the CMS DMEPOS program.
AmeriPro Surety Bonds will work to find you the best surety bond pricing, should this be necessary.
AmeriPro Surety Bonds is a surety bonds-only agency.
We provide license and permit, contractor, court, and fiduciary surety bonds throughout the Commonwealth.
Our agency also provides surety bonds nationwide.
We appreciate your consideration of our agency for your surety bond needs and look forward to working with you.
Please call AmeriPro Surety Bonds today:
