Phoenix, AZ, March 07, 2019 –(PR.com)– Viking Bond Service, a surety bonding company operating nationwide, is able to offer dentists DMEPOS bonds, which have recently become a national requirement. Viking Bond Service can ensure that dentists remain compliant with the new laws while securing a competitive rate.
Dentists must secure a bond through a surety company, like Viking Bond Service, which uses carriers who are A Rated and appear on the U.S. Department of Treasury’s circular of carriers acceptable on federal obligations. After a dentist receives a notice from the Center for Medicare and Medicaid Services, they have sixty days to obtain a bond. If a dentist does not obtain the bond within the specified period of time, their Medicare Provider Transaction Access Number could be revoked.
Although the DMEPOS bond is not a new one, the requirement that all dentists providing durable equipment, including prosthetics, oral appliances, and orthotics, must secure $50,000 in order to continue providing dental services for their patients is a new requirement for 2019. The Center for Medicare and Medicaid Services has established this requirement so that dental sleep medicine practitioners remain in compliance with national laws.
The bond makes the surety liable for any unpaid medical claims, which are overpayments from the Medicare or Medicaid programs to the DMEPOS supplier. In the instance of an unpaid claim, Medicare or Medicaid can make a claim on the bond. Then, the surety would make the payment to settle the claim. The laws protect both dentists and suppliers, allowing the surety to collect the paid amount from the DMEPOS supplier.
“Recent Medicare changes now require dentists who act as Durable Medical Equipment providers for Medicare-approved appliances (sleep apnea oral appliances, etc.) to secure a $50,000 surety bond. Previously, these dentists were deemed exempt from the federal DMEPOS bond requirement. These affected dentists are now receiving a letter from the Center of Medicare & Medicaid Services instructing them to get this surety bond within a 60-day time frame,” said Mike Herranen, President of Viking Bond Service
For dentists to apply for a bond, they should visit https://www.performancesuretybonds.com, and contact Viking Bond Service about their needs. Required documents include a completed application, and financial statements may be reviewed. Viking Bond Service will always attempt to provide the best possible rate for any surety bond request. The company has agents available to speak with dentists about their individual bond needs. Online applications for the DMEPOS bond are also available on the website, and all quotes are free with no obligation. Additionally, dentists can call Viking Bond Service at 1-888-278-7389 to receive their quotes.
About Viking Bond Service: Viking Bond Service, Inc. has been serving clients from coast to coast for over seventeen years and is a proven and established provider in the surety bond industry. Viking Bond Service has been trusted for providing a variety of surety bonds including commercial, contract, and fidelity, and often with the lowest rates in the nation. As a longstanding member of the National Association of Surety Bond Producers, and with an A+ Rating with the Better Business Bureau, Viking Bond Service is committed to serving and assisting all clients in need of surety bonds. For more information about Viking Bond Service and surety bonds, visit https://www.performancesuretybonds.com.
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