DMEPOS Provider Surety Bond Deadlines Approaching Fast
Brunswick Companies' Surety Group Assists DMEPOS Providers in Securing Required Surety Bonds
Press Release
FAIRLAWN - April 15, 2009 - Brunswick Companies' Surety Group announced today it stands ready to assist Durable Medical Equipment, Prosthetics, Orthotics and Supplies providers in meeting recently clarified federal deadlines to secure surety bonds of $50,000 per Medicare billing location.
DMEPOS Surety Bonding Deadlines Approaching Fast!
Federal legislation requires current and enrolling Durable Medical Equipment, Prosthetics, Orthotics, and Supplies (DMEPOS) Providers to submit a $50,000 surety bond to the NSC:
- Any new suppliers seeking enrollment into the program, changing ownership or opening a new location are required to purchase the DMEPOS Bonds by May 4, 2009
- Existing Medicare DMEPOS suppliers must meet the DMEPOS bond requirement by October 2, 2009
Any supplier who does not meet their required deadline will have their Medicare billing privileges revoked, and any applications submitted after May 4, 2009 without a bond will be rejected at the time of submission. The bonds will need to be filed with the National Supplier Clearinghouse located in Columbia, South Carolina. The Center for Medicare Services will soon provide suppliers with more information about filing the bonds.
Additional Information: Read the CMS Press Release dated 12/8/2008
Mark Levinson, the leader of Brunswick Companies' Surety Group, explained, "Working with an experienced surety broker can help DEMPOS suppliers secure the best rates on their DMEPOS Surety Bond."
Brunswick Companies' Surety Bond Group is a full-service, national surety bonding agency, licensed in every U.S. state.
Levinson continued, "As Surety specialists, we have decades of experience in serving a wide range of specialized bonding needs. We'll make sure DEMPOS providers get the required bonding quickly and affordably" while ensuring their bonds meets the federal guidelines:
- That DMEPOS Pproviders secure their bond from a federally certified surety
- That the bond meets the bond documentation requirements
- That the bond conforms with the required surety amount.
Multiple DMEPOS Medicare Billing Locations Require Additional Bonds
Recent clarifications of Federal legislation require current and enrolling DMEPOS Providers to submit a $50,000 surety bond to the NSC on a per NPI basis (assigned National Provider Identifier number with Medicare billing privileges).
Thus, DME businesses with multiple locations billing Medicare will need to obtain a $50,000 bond per location: one for each individual NPI. Suppliers with multiple NPIs may opt to obtain a single bond covering all locations. For example, a supplier with two NPIs may obtain a single $100,000 bond, rather than two $50,000 bonds. Suppliers purchasing a single bond to cover multiple locations must list all covered locations on the bond.
Adverse Actions History Triggers Additional DMEPOS Bond Requirements
Any supplier who has had one of the following legal actions imposed against them by Medicare, a state or federal authority is required to provide an additional $50,000 per adverse action:
- Medicare suspension or revocation of billing privileges
- Suspension or revocation of a license to provide healthcare by any state licensing authority
- Suspension or revocation of Medicare accreditation by an accrediting organization
- Conviction of a federal or state felony offense within the past 10 years
- Exclusion or debarment from participation in any federal healthcare program
Suppliers imposed with any of the above actions will have to maintain elevated surety bonds for three (3) years.
DMEPOS Surety Bond Exemptions are limited to the following:
- Government operated DMEPOS who have already provided CMS with a comparable surety bond under state law
- Private Practice Prosthetic and Orthotics personnel, IF:
- The Personnel are state licensed AND,
- The business is 100% solely operated by the owning supplier(s) (no employees), AND
- Products are custom made by the owner(s), AND
- The supplier is only billing Medicare for those products (not DME)
Practices in states that do not offer licensing are NOT exempt.
With over 35 years of risk management experience and decades of surety bonding excellence, Brunswick Companies is widely recognized for their long-term commitment to managing the specialized surety needs of a diverse range of clients.
|
