You Need a Good Credit Report to "Score" on DMEPOS Competitive Bidding

By William Popomaronis, R.Ph.

All suppliers are required to submit a copy of their current credit report and score, which must have been completed within 90 days prior to the date on which you submit your bid. You can submit a credit report and score from any one of the following credit bureaus: Experian, Equifax or TransUnion. To better address the needs of business, CMS has added Dun & Bradstreet to the list of credit bureaus you can use to receive your credit report and credit score.

Experian, Equifax or TransUnion offer personal credit reports acceptable for certain organizational structures such as Schedule C filers, sole proprietorships, Subchapter S corporations owned by one or two individuals or similarly owned small partnerships.

Different levels of services are offered on commercial reports. However, some may not offer business reports, some may require membership, some may sell credit reports and credit scores separately. For this reason, CMS is adding Dun & Bradstreet to the list of companies you can use to obtain your credit score and your credit report.

In the event that reports and scores and sold separately, both are required for a complete bid submission. So please ensure that the credit bureau that you use offers the level of service and reports that you need.

If you are a new supplier and you do not have past financial information because you were not in business as a DMEPOS supplier, then you submit projected financial statements to substitute for any year in which you were not in business.

 
 
 

William Popomaronis, R.Ph., is vice president, long term and home health care services for the National Community Pharmacists Association (NCPA). He is also the only pharmacist member of Medicare’s Program Advisory and Oversight Committee (PAOC), which provides advice on the development and implementation of the DME Competitive Acquisition Program.

 
 
  Bayer HealthCare, Diabetes Care, has underwritten the costs of this communication. The information expressed in this communication are the views of NCPA. Bayer is not responsible for the accuracy of the information expressed in this communication. Any questions related to DME Accreditation and/or Competitive Bidding for DMEPOS should be directed to the Centers for Medicare and Medicaid Services or NCPA.