~New Compliance Deadline: December 31, 2010 - Please read the following information to clarify
The Federal Trade Commission (FTC) has mandated compliance to the Red Flags Rule. This regulation outlines security of credit and personal information to help prevent identity theft. Medical practitioners are among the businesses and professions which fall under the rule due to access to consumer credit and identity information. The FTC confirmed on March 19, 2009 that veterinarians are required to comply with the Red Flags Rule. Until October 30, 2009, the deadline for compliance was November 1, 2009. More information on the revised deadline is below.
This course is part of a two-course set designed to help veterinary practices not only understand the Red Flags Rule but to provide practical compliance aids and team training. The Red Flags Rule: Practice Compliance provides information regarding the regulation, answers many commonly asked questions, outlines the steps to compliance, and provides downloadable templates that can be personalized for your practice. In addition, this course outlines the steps to be taken in the event of an FTC inspection or investigation, including clarifying owner's rights. This course is designed for the practice owner, manager, or assigned privacy officer.
The second course in this set, the Red Flags Rule: Team Training course, is included at no additional fee. It provides training for each member of the practice team, as required under the Red Flags Rule. It will provide each team member with a certificate of completion.
Together, this two course set will provide a practice with the tools needed to address compliance and train team members.
Please note: This compliance set is designed for individual practices. If you have a corporate set up with a two or more locations, with practice teams at each location, please contact us at CE@vetmedteam.com.
~Updated information on compliance deadline for veterinary practices~
We have seen several extensions of compliance deadlines for the Red Flags Rule. The latest announcement came in on May 28, 2010 advising that the FTC once again is extending the deadline, this time to December 31, 2010 (don't stop reading here!!!) Information regarding the extention is below. While it appears possible that the average veterinary practice may not, in the long run, fall under the compliance requirements, please consider the fallout from identity theft and how it can affect a person's life adversely for years. Although practices may not end up legally required to provide identity theft prevention training, many would argue that protecting the financial identity of clients and employees is still the "right thing to do" and should be part of practice protocols and training policies.
Info on the May 28, 2010 extention decision - from the FTC:
The Federal Trade Commission on May 28 announced it would delay enforcement of the Red Flags Rule from June 1 to Dec. 31, 2010.
The commission cited congressional consideration of legislation that would affect the scope of entities covered by the rule to require businesses to take specific steps to minimize identity theft. For instance, S. 3416, introduced on May 25 in the Senate, would exempt health care practices with 20 or fewer employees, as well as accounting and legal practices of similar size.
Covered health care professionals under the bill include physicians, dentists, podiatrists, chiropractors, physical therapists, occupational therapists, marriage or family therapists, optometrists, speech therapists, language therapists, hearing therapists and veterinarians.
The commission in its announcement urged Congress to quickly act "to pass legislation that will resolve any questions as to which entities are covered by the rule and obviate the need for further enforcement delays. If Congress passes legislation limiting the scope of the Red Flags Rule with an effective date earlier than December 31, 2010, the Commission will begin enforcement as of that effective date."
The American Medical Association, which on May 21 filed a lawsuit to prevent the FTC from applying the rule to physicians, applauded the delay. "We call on the FTC to exempt physicians from the rule completely."
The extension is a promising sign that the AMA lawsuit caught the attention of the FTC, the association says. "Last November, a federal court blocked the rule from being applied to attorneys after the FTC was found to be extending its regulatory power beyond that authorized by Congress. We hope this latest extension will be long enough for the FTC to take a good, hard look at the rule and finally exclude physicians from this unjustified and burdensome regulation of medicine."