‘Red Flags’ Compliance
The Red Flag and Address Discrepancy Rules should be in compliance or risk being fined. The deadline is August 1, 2009 (recently adjusted from May 1, 2009).
A creditor, as defined under the Fair Credit Reporting Act, includes any person who regularly extends, renews, or continues credit; any person who regularly arranges for the extension, renewal, or continuation of credit; or any assignee of an original creditor who participates in the decision to extend, renew, or continue credit.
According to the law firm Gates & Moore, “the Red Flag and Address Discrepancy Rules require physicians and healthcare providers, among other individuals and businesses deemed as ‘creditors’ (including banks, mortgage lenders, credit unions, utility companies, car dealers, and telecommunications companies) to develop and implement a formal written program to detect, prevent and mitigate identity theft, including medical identity theft.” And not only is a program required but also annual staff education about your organization’s program and healthcare fraud and abuse.
Sound like a daunting task? No need to worry – BridgeFront can help you or your organization create an ID Theft Prevention Program through a step-by-step manual and educate your large or small staff through our customizable online course. For more information, watch a quick video, visit www.bridgefront.com or call (866) 447-2211.