Texas DMEPOS Bond |
AmeriPro Surety Bonds | 844-589-9732
DMEPOS is an acronym for durable, medical, equipment, prosthetics, orthotics suppliers.
DMEPOS is federally regulated by the Center for Medicare and Medicaid Services.
All 50 states fall under the jurisdiction of the CMS.
To participate in the program, besides other licensing requirements, a DMEPOS Bond is required.
Texas DMEPOS Bond: Genesis
A DMEPOS bond for medical suppliers has been required since 2009.
The surety bond requirement was the outcome of systemic defrauding of the Medicare and Medicaid programs by some unscrupulous medical suppliers.
This became increasingly common in the early 2000’s.
During that period, Medicare and Medicaid losses from fraudulent activity was in the many millions of dollars.
Texas DMEPOS Bond: Purpose
Considering the above, the purpose of the Texas DMEPOS bond is a financial guarantee that a licensed medical supplier will abide by all rules, regulations, and statutes as required by federal law.
This surety bond also protects against fraudulent, criminal, or willfully negligent activity that a medical supplier, employees, or officers may commit in the performance of their duties as medical suppliers.
Of note is that the DMEPOS bond protects others; it is not an insurance policy for a licensed medical supplier.
Texas DMEPOS Bond: Total Bond Required
A Texas DMEPOS surety bond is required with a minimum amount of $50,000, and in additional increments of $50,000.
Each National Provider Identifier (NPI) of a medical supplier requires its own $50,000 DMEPOS bond.
Texas DMEPOS Bond: Premium
The premium for a DMEPOS bond will be determined by the following:
- The amount of surety bond required;
- A medical supplier’s financial records;
- The applicant’s credit score.
A $50,000 DMEPOS bond may cost as little as $250.00.
The amount an individual applicant will pay, however, will be determined by the criteria mentioned above.
Texas DMEPOS Bond: Duration
The surety bond is issued and renewable on an annual basis.
Applicants should ensure that the bond’s date is concurrent with the medical supplier license.
Getting a Texas DMEPOS License:
Although DMEPOS is a federally mandated program, there are state-mandated rules as well.
Applicants will want to familiarize themselves with the rules and guidelines for DMEPOS suppliers in Texas .
About AmeriPro Surety Bonds:
AmeriPro Surety Bonds provides DMEPOS surety bonds in Texas and all 50 states.
Our agency also provides license and permit, contractor, fiduciary, and court surety bonds nationwide.