Top Reasons You should be Looking for Medicare & Medicaid Bonds

• Posted by Manav Pietro October 26, 2021 - Filed in Business - #Medicaid Bonds  - 1,051 views

  This info-graphic titled Top Reasons You should be Looking for Medicare & Medicaid Bonds’ provides us an overview of Medicare Bonds The Centers for Medicare and Medicaid Services implanted a bonding requirement in 2009 intending to curb medical billing fraud by physicians or medical practitioners. Most suppliers of lasting medical equipment, prosthetics & orthotics, and supplies must file a $50,000 surety before they can bill for Medicare.

  Here, the center for Medicare and Medicaid Services intends to:

  • Permit only genuine DMEPOS suppliers to enroll and participate in the Medicare program to hinder Medicare fraud.
  • Guarantee that the Medicare program is reimbursed for all kind of losses resulting from illegal business practices

  Medicare surety bonds renew yearly and stay in place as long as you resource your license. The annual premium is often only 0.5% of the bond amount but may be high in some circumstances. The underwriting is typically a simple one-page petition used to soft pull your credit, although now and again additional information may be required. For more information, please refer to the info-graphic below.