A bill introduced last month in the Senate, titled the ”Fraud Prevention Act of 2008″ would impose a $500,000.00 surety bond on Durable Medical Equipment (DME) Providers if passed. A surety Bond is a bond guaranteeing performance of a contract or obligation.
The new bill is a response to Medicare fraud and Abuse that plagues the DME Industry. In addition to the Surety Bond, the bill also increases maximum criminal sentences, double civil fines, and quadruple criminal fines.
Many in the DME industry are saying that this would put an enormous financial burden on many small DME Providers, causing many to close.
For those of you in the DME Industry, How is this affecting you and what are you doing about it?
I agree,this bond must led to a good result..