Medicare and Medicaid Bonds

The Healthcare sector is a vital industry in the U.S. Almost every hospital and nursing home uses the services of a supplier for their medical equipment and supplies. However, medical facilities must make sure the supplier they work with are credible and reliable. This includes their experience in the industry, the quality and legitimacy of their equipment,their services, and more. To do this, these suppliers must secure a Medicare & Medicaid bond before operating their business.

Why should Healthcare facilities require Medicare & Medicaid bonds from suppliers?

These bonds protect medical establishments from any mistakes due to faulty equipment from the supplier. These bonds will compensate for any losses on the supplier’s behalf. In a nutshell, these bonds:

• Establish the legitimacy of the supplier
• Makes sure that the supplies and equipment are in accordance with the signed contract
• Eliminates risk of fraudulent practice that may be due to false medical billing
• Beneficiaries can receive the proper services and support without paying separate fees
• The bond serves as protection for the medical facilities