Medicare DMEPOS Dentists Must Now Obtain Surety Bonds
This month the Center for Medicare & Medicaid Services (CMS) sent notifications to all Durable Medical Equipment, Prosthetics, Orthotics and Supplies (DMEPOS) suppliers announcing that dentists are no longer exempt from the DME surety bond requirements.
If you are a Medicare DMEPOS provider, what does this mean for you?
- You must obtain a surety bond with a coverage minimum of $50,000 per practice location.
- The surety bond must be obtained within 60 calendar days from the date on the Medicare notification that will be sent to you in January of 2019.
- You can get the surety bond from your current insurance provider.
- This requirement applies to all Medicare providers, even those that are non-participating.
- Failure to obtain the surety bond in this time frame will result in Medicare Provider Transaction Access Number (PTAN) deactivation..
While an actual time frame has not been released, CMS has communicated that a formal letter detailing the requirements will be sent to all DMEPOS suppliers in January of 2019. Palmetto, the National Supplier Clearinghouse for DMEPOS suppliers, explains the new requirement here. Additionally, their Surety Bond FAQs page provides additional information relating to the process.
Triton Medical Solutions will follow up with additional information as it become available. In the meantime, if you have any questions relating to the new requirement, please feel free to contact our office at (602) 457-7320.