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Apr 13

Red Flags Rule guidance published

The Federal Trade Commission (FTC) published guidance to help organizations comply with the May 1 enforcement deadline on the Red Flags Rule, which forces hospitals to implement a documented identity theft prevent program.

The report offers four steps to complete compliance with the rule:

  • Include reasonable policies and procedures to identify the “red flags” signaling potential identity theft
  • Design your program to detect red flags that you have identified
  • Spell out appropriate actions you’ll take when you detect red flags
  • Address how you will re-evaluate your program periodically

Read the complete FTC report.

About Reed Tinsley, CPA

As a top advisor to physicians, I help increase practice profits by delivering hands-on, expert medical accounting/tax support, practice counsel, and revenue-building strategies. Read more →