Medicaid Surety Bonds
This info-graphic titled ‘Medicaid Surety Bonds’ provides us an overview of sureties that take care of Medicare and Medicaid programs. Medicaid provider surety bond is required for health care providers that take Medicaid, such as physician groups, health agencies, and ambulance utilities. The bond contract is written to ensure that Medicaid providers pay needed fees to the state
In accordance to the Balanced Budget Act of 1997, the Secretary of the United States Department of Health and Human Services calls for businesses that bill Medicaid to provide a home health agency Medicaid bond. This surety bond type can be used to refund an obligee for all or part of the cost of home health services furnished by a principal under the Medicaid program. Under this surety, the principal and surety are jointly liable for gathered Medicaid over payments for home health services. The bond amount required for federal Medicaid Bonds is not characterized on the form.
Chances are if you demand a Medicaid provider bond you accept Medicaid through some kind of healthcare grooming. These services might regard physician groups, ambulance transportation providers, home health agencies and personalized care assistance providers. Medicaid provider sureties provide authority that healthcare professionals who are accepting Medicaid are conducting business honestly and complying with state statutes. For more information, please refer to the info-graphic below.