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The “Address Discrepancy Rules” and Medical Compliance Rules
[By Staff Reporters]
Healthcare executives and CFOs are looking for help to better understand and comply with the Red Flag and Address Discrepancy Rules from the Federal Trade Commission (FTC). The Rules were issued to curb identity theft in the United States, and require companies including most hospitals, to submit their written program to identify and manage ‘red flag’ accounts – originally – by November 1, 2008.
Core Elements
The core elements of the Red Flag Rules are identification, detection and response to patterns, practices, or specific activities – known as “red flags”. They include the two key issues.
1. Identification/Detection:
Inconsistencies of addresses constitute a ‘red flag’ to the registrar and organization.
2. Response:
When a ‘red flag’ is found, predetermined workflows within workflow solutions guide the registration process and financial relationship with patients, including those identified as a red flag patient, using validated patient information.
FTC Grants a Delay
However, the Federal Trade Commission just suspended enforcement of the new “Red Flags Rule” until May 1, 2009, to give creditors and financial institutions additional time in which to develop and implement written identity theft prevention programs. This recent announcement, and the release of an Enforcement Policy Statement, does not affect other federal agencies’ enforcement of the original November 1, 2008 deadline for institutions subject to their oversight to be in compliance.
Assessment
info: FTC Media Contact: Office of Public Affairs [202-326-2180]
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Filed under: Health Law & Policy, Practice Management, Risk Management | Tagged: red flags | 8 Comments »
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