Finally - Medical Practices Aren't Creditors
December 7th, 2010
It's not completely official yet, but On December 7, the House passed the Red Flag Program Clarification Act of 2010. The Red Flags Rule requires financial institutions and creditors to develop and implement a written identity theft program.
Several Physician organizations have lobbied to have medical providers exempted from the definition of Creditor. This legislation would exempt health care providers from the Red Flags Rule requirements that go into effect January 1, 2011.
The Senate passed similar legislation on November 30. This legislation will now be sent to the President for signature.
Despite the exemption, most providers are still required to verify the patients identity under the policies of third party payor contracts. It remains good policy to obtain picture identification of new patients.
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