May 22 2009
Medicaid DMEPOS Surety Bonds: The Cost
Recently, Medicaid has started to require medical equipment suppliers to file a surety medicare bond for US 50,000 dollars to protect the system against unethical scoundrels. Medical equipment providers will need to file a separate surety bond for each location that has its own NPI or National Provider Number on file. Some providers are exempt from filing these bonds, so check your rule book before paying for your surety bonds.
It has been suggested that surety bonds will cost approximately US 1,500 dollars each, but there are bond providers that are willing to provide this service for about 1/3rd of that cost. As with any kind of a financial transaction these days, if the cost of the surety bond sounds like it is too good of a deal, check closely before paying the fees to make sure that you are not becoming part of a scam or fraud scheme.
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