DME BOND
American Surety Bonds Agency, LLC provides simplified and fast underwriting for DME Bonds.
Do you bill Medicare for equipment you sell?
If you are a manufacturer or supplier of durable medial equipment, prosthetics, orthotics, or supplies (DMEPOS), you are required to obtain a Medicare DME Surety bond. Chiropractors, Pharmacists, Ophthalmologists, and even hospitals could be required to file for a DMEPOS Bond.
American Surety Bonds Agency, LLC provides simplified and fast underwriting for DME Bonds. As a full service bonding agency, with over 70 years of underwriting experience, we promise to make the process hassle free and keep your company in compliance with the most current federal and state laws.
Apply Today, Approved Today!
The American Surety Bond Agency has in-house authority, which is why applicants can receive same day approval. To apply, simply complete the DME Bond application. To find out which of our programs is best for you, contact us today.
What is a DME Bond?
A DME bond is a financial guarantee required by the federal government and various states, including Florida, Texas, and Alabama, to ensure that suppliers of durable medical equipment, prosthetics, orthotics and supplies (DMEPOS) comply with the laws in place for billing federal agencies such as Medicare and Medicaid. The Centers for Medicare and Medicaid Service (CMS) established the requirement to prevent fraud and abuse of the Medicare system. The DME bond is also referred to as DMEPOS bond, DME Surety bond, DME Medicare bond, Medicare Surety bond, Medicaid bond, and Pharmacy bond.
The Federal Government requires that DMEPOS providers obtain and annually maintain a DME Surety bond. Each National Provider Identifier (NPI) number must acquire a Medicare Surety bond in the amount of no less than $50,000. Bond rates are subject to increase if the DMEPOS supplier has multiple locations and NPI numbers. Providers with more than 10 NPI locations may post a blanket bond for $500,000. Bond amounts may also be increased if adverse action has been taken against a supplier.
Providers who fail to obtain a DME Surety bond are subject to the following:
- Medicare will impose revocation of any medical billing privileges.
- They may also suspend or revoke your license to provide health care by any state licensing authority.
- Revocation or suspension by an accreditation organization.
- A conviction of a federal or state felony offense.
- An exclusion or debarment from participating in federal or state health care program.
What are the underwriting guidelines?
Part of our underwriting process for DME Bonds includes these items for review:
- Applicant’s Credit History
- Applicant and Business Net Worth
- Applicant and Business Assets
- Years in Business
- Claim History
How much does the bond cost?
American Surety Bonds Agency has a number of programs in place for DME Bonds. Our 6-tiered program starts at less than 1% of the bond amount or as low as $399 for two years. Don’t worry if you have a challenged credit score. We have a non-traditional program with no collateral required. At American Surety Bond Agency, every client is be able to get the DMEPOS Bond they need. Apply today to find out which program you qualify for.
1 – $50,000
- Been in Business for at least 5 Years
- Company Financial Statement
- Business Net Worth is a minimum of $250,000
- Credit Score of 775 or better
- DNBi Score of 76 or better
- Home Ownership Required
- Spousal Indemnity Waived
$399 / 2yrs.
Up to 3 NPI Numbers
2 – $50,000
- Been in Business for at least 3 Years
- Company Financial Statement
- Credit Score of 675 or better
- DNB Score of 74 or better
- Home Ownership Required
- Spousal Indemnity Waived
$438 / 2yrs.
Up to 3 NPI Numbers
3 – $50,000
- Been in Business for at least 1 Year
- Credit Score of 650 or better
- Home Ownership Required
- No Bankruptcies in the last 10 Years
$463 / 2yrs.
4 – $50,000
- New in Business
- Credit Score of 600 or better
- No Bankruptcies in the last 2 Years
$1388 / 1yr.
5 – $50,000
- Non-Profit Organization
- Company Financial Statement
- Business Net Worth is a minimum of $250,000
- Signed Application by a Duly Authorized Officer of the Institution
$925 / 2yrs.
Or Less
6 – $50,000
- Challenged Credit
- No Collateral Required
Yes, you are approved!
Call for details
How do I apply for a DME Bond?
To apply for a DME Bond, simply click here to complete our application. Or, give us a call and we will be happy to get you started.
Apply today, Approved Today!
Who can I contact for more information?
Sam Newberry
MM, Senior Underwriter
404-486-2356—Direct
404-393-0826—Fax
info@suretybondsagency.com
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