Medical Briefs
Physicians Avoid Red Flags Rule
The regulations known as the "Red Flags Rule" (issued by the Federal Trade Commission) require "creditors" to develop and implement written programs to protect consumers from identity theft. Under the rules, it was not clear whether the definition of creditors included professionals (such as physicians, lawyers, dentists, etc.) who do not require full payment at the time of service. The Red Flag Program Clarification Act of 2010 clarifies that physicians won't be classified as creditors just because they aren't paid in full at the time of service.
The Results Are in: Many Patients Are Confused
If a recent survey* is any indication, a significant number of patients aren't fully aware of the qualifications of many of their health care providers. Over two thirds (69%) of respondents incorrectly identified dentists as medical doctors. The good news: 75% identified psychiatrists and 71% identified ophthalmologists as MDs.
*Survey conducted on behalf of the Scope of Practice Partnership by Baselice & Associates, November 4–8, 2010.
Health Care Commentaries is provided by Somerset’s Health Care Team for our clients and other interested persons upon request. Since technical information is presented in generalized fashion, no final conclusion on these topics should be made without further review. For additional information on the issues discussed, please contact a member of our
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. This document is not intended or written to be used, and cannot be used, for the purpose of avoiding tax penalties that may be imposed on the taxpayer.
Somerset CPAs, P.C.
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