The Federal Trade Commission has extended enforcement of the Red Flags Rule until June 1, 2010. Enforcement of the rule has been delayed previously as the FTC sought to adequately educate affected corporations and institutions. The Red Flags Rule impacts financial institutions and creditors subject to FTC jurisdiction. According to the Rule, created under the Fair and Accurate Credit Transactions Act, covered entities must develop and implement written policies that aid in identity theft prevention.
FTC announced on April 30, 2009 that the enforcement of the Red Flag Rule will be delayed until August 1, 2009. This will allow time for creditors and financial institutions to create and fine tune their identity theft prevention programs. A template has also been developed and will be available soon which will aid companies with a low risk of identity theft.
More information is available from here: http://www.ftc.gov/opa/2009/04/redflagsrule.shtm
On January 1, 2008, the newly-released Red Flags Rule stipulated that certain businesses are required to "spot and heed" the red flags for identity theft. Health care providers, in particular, should be vigilant in monitoring any suspicious activity that may indicate identity thieves have accessed stolen information including social security numbers, birth dates, account numbers, etc. in order to acquire accounts or services. Compliance to the Red Flags rule will be enforced starting on May 1, 2009. Is your organization covered?
With a May 1st deadline for compliance looming, the American Medical Association (AMA) has asked the Federal Trade Commission (FTC) to suspend the application of the Red Flag Rules to physicians and publish a new rule so that physicians have an opportunity to provide comments. In a March 9 letter to the FTC, AMA Executive Vice President Michael D. Maves wrote that the AMA “strongly believes that the FTC did not provide physicians with an opportunity to review and comment on this Rule.”
On May 1, 2009, the FTC's six month suspension of the enforcement of the Red Flag Rules will be lifted. Is your organization's Identity Theft Prevention Program in place? If not, review the requirements at 16 CFR 681 on the MediRegs research portal. If your organization has implemented a program - be sure it passes compliance muster by conducting the Red Flag Rules risk assessments developed by MediRegs for ComplyTrack. Question sets include:
Browse Posts by Category
- E&M Services-Basic Rules and Complexities with Payor Audits (Webinar Replay)
- The Value of Integrated Information in the Midst of Change (Webinar Replay)
- Maria Bounos from Wolters Kluwer joins "Talk Ten Tuesday" to discuss ICD-10: Now and Then
- Government Shutdown
- ICD-10-CM Coding Goes Mobile
- MEA Outlines the esMD Program (webinar replay)
- Social Media and Privacy: How Does Your Program Measure Up?
- New York State Goes Paperless for Health Commerce System Accounts
- Coding Injuries in ICD-10 CM (Webinar Replay)
- IPPS Final Rule Review (Webinar Replay)
MediBlog - A Resource for the MediRegs User Group. MediBlog was designed to allow you the opportunity to communicate directly with MediRegs specialists as well as colleagues that work in your field of work.
- October 14, 20134.666665
- October 14, 20130
Recent Comments / Archives
you have to bill 80103
1 year 1 week ago
- Nice article
1 year 2 weeks ago
- Yes we did, thank you for
1 year 22 weeks ago
1 year 31 weeks ago
- great news for the dms
1 year 36 weeks ago
- Multiple IDE Billing on one claim
1 year 42 weeks ago
- Normal Birth Example
1 year 45 weeks ago
- Billing of Assay Units
2 years 5 weeks ago
- S codes
2 years 6 weeks ago
- Electronic ICD-10-CM and ICD-10-PCS CodeBook
2 years 31 weeks ago