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In an effort to provide evidence of financial stability among bidders, the proposed Medicare DMEPOS Competitive Bidding Improvement Act of 2014 requires bidders to secure a state license and a bid surety bond to participate in the DMEPOS competitive bidding program.

The required amount of the bid bond would be $50,000 for each competitive bidding area.

The Centers for Medicare & Medicaid Services (CMS) has decided to temporarily delay moving forward with the next steps of the Round 2019 Durable Medical Equipment, Prosthetics, Orthotics, and Supplies (DMEPOS) Competitive Bidding Program to allow the new administration further opportunity to review the program.

As a result, CMS has removed all information that was formerly released on January 31, 2017 from their website.

As one of the nation’s leading providers of surety bonds for the DMEPOS industry, VGM Insurance has remained at the forefront of this legislation, and has been working behind the scenes with our surety bond partner to develop a competitive bid surety bond product to release to the industry.
 

Please continue to monitor the CMS.gov website, or reach out to our team by emailing bondinfo@vgm.com to receive important updates from our VGM Insurance surety bonds team.

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