New November 1 Deadline
The Federal Trade Commission's "Red Flag Rules" require financial institutions and "creditors" to develop and implement identity theft detection and prevention programs by November 1, 2009. This is a delay from the previously established deadline of August 1.
Despite objections from CMA, AMA and others in organized medicine, the FTC insists that physicians who regularly bill their patients for services (including copayments and coinsurance) are considered "creditors" and must develop and implement written identity theft prevention programs for their practices by the November 1 deadline.
The original purpose of these regulations was aimed at financial institutions and based upon objections from physicians and others the regulation implementation was delayed last year.