Remember that movie Groundhog Day? In the movie, the character Bill Murray, relives the same day over and over again. If you have, you can certainly relate the movie to the situation surrounding Red Flags Rule, which is still to see the light of day.
So if you thought the Red Flags Rule compliance deadline of November 1 would be met, you’ve been fooled again because it has been postponed yet again.
The Federal Trade Commission (FTC) on October 30, postponed the compliance deadline for the rule until June 1, 2010. There is also a court case doing the rounds on who must comply. Talking about this in the Home Care Law Blog, attorney Robert Markette says, “Basically, the FTC is extending the deadline because Congress has asked it to do so.”
What’s the next step for you if you don’t have a Red Flags Rule Compliance Program right now? According to Markette, you should wait a bit longer to get the ducks in a row before the summer deadline rolls around. This will give you a chance to see what happens with the court case and what the final legislation from Congress looks like. She goes on to add that these two factors may radically change the way you address the Red Flags Rule.
What if you’ve already implemented the Red Flags Rule? Consider leveraging the financial upside, because identity theft can really make your A/R stock up.
Since there are so many changes taking place in the healthcare IT industry, you need to keep pace with them all to ensure your success.
About the Author:
Hitnews offers healthcare IT news coverage with insights for managers and executives, focusing on major healthcare it solution providers. In addition to detailed heathcare IT news, you will find detailed industry analysis on new alliances of healthcare it industry, healthcare it firms, healthcare it strategy and so on.
Article Source: ArticlesBase.com – FTC gives the slip once again: Postpones Red Flags Rule
Makem and Clancy – Red is the Rose
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