The Federal Trade Commission (FTC) announced this week that it will "suspend enforcement" until May 1, 2009, of a portion of the Red Flag Rule that affects healthcare providers. The rule states that creditors and financial institutions must develop and implement a written Identity Theft Prevention Program by Nov. 1, 2008. The FTC determined that some entities generally not subject to FTC rules, such as healthcare providers, would need additional time to develop and implement a written program. Numerous healthcare associations have complained to the FTC that physicians are not "creditors," but the FTC is unlikely to exclude healthcare providers from the definition of creditors. Orthopaedic practices may wish to use the extra time to develop and implement a comprehensive Identity Theft Prevention Program.
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November 03, 2008
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