Suppliers of durable medical equipment, prosthetics, orthotics and supplies (dmepos) are required by The Centers for Medicare & Medicaid Services (CMS) to have a Medicare surety bond. This bond is also referred to as a DMEPOS Surety Bond. The bond is required to be in the amount of $50,000.
The bond is to protect CMS, and states that they will be able to recoup any losses caused by fraudulent activity or incorrect billing by the company that purchases the bond. If they feel you have wronged them in a financial matter they can file a claim with your surety company. The claim will be researched and if the surety company pays out, you must pay them back
Surety1 has access to the best markets available so we’re able to get you a firm quote for your DMEPOS Surety Bond, no matter your situation. Rates as low as $250.00 per year for highly qualified applicants.
In order to become a registered supplier of durable medical equipment, prosthetics, orthotics, and supplies (DMEPOS), you must submit an application and supporting documents (such as a surety bond) to the Centers for Medicare & Medicaid Services (CMS).
Surety Solutions Insurance Services, Inc. (Surety1) provides and easy to navigate, online application to make the process simple. All we need is the completed application and within one business day, you will receive a firm quote for your bond. Then sign some paperwork, make payment and your bond will be shipped to you via USPS priority mail. Overnight shipping is also available.
Surety1 has been a premier provider of surety bonds since 2003 and has been providing the Medicare / DMEPOS Surety Bond since its inception. The company is licensed in all 50 states and represents over a dozen surety companies, that are listed on the Department of the Treasury’s Listing of Approved Sureties. Surety1 also maintains an A+ rating from the Better Business Bureau.