The Center for Medicare Services has recently changed a ruling that dentists providing DMEPOS (durable medical equipment, prosthesis, orthotics and supplies) services are no longer exempt from obtaining a surety bond. They are currently in the process of notifying qualifying parties.
What does this mean for dentists providing these services?
- All dentists that are Durable Medical Equipment (DMEPOS) suppliers must obtain a surety bond.
How much will the bond cost?
- It is quick and easy to get this bond. Average annual premium is just $250.
What is the minimum amount of coverage I need on the bond?
- Minimum coverage required: $50,000.
Is there a deadline to get the bond?
- The bond must be in place within 60 days from the date of notification.
Are there any consequences if I don’t get bonded?
- If a bond is not in place, your PTAN (Medicare Provider Transaction Access Number) will be deactivated.
Who does this change affect?
- Applies to all Medicare providers including those that are non-participating.