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RHEUMATOLOGY PRACTICE PEARLS: Is Your Practice Ready for 5010?

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If your practice electronically submits administrative transactions to verify patient insurance eligibility, file claims, or send or receive remittance either directly to insurance companies or through a clearinghouse, the transaction version for that system will have to be updated by January 1, 2012. The current version 4010 is outdated and cannot accommodate the necessary business transactions for physician practices and healthcare facilities.

Identity Theft: Red Flag Rules Take Effect

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The Federal Trade Commission (FTC) has adopted a rule that requires creditors to institute programs to spot suspicious activity (commonly called “red flags”) that may signal identity theft, and the red flag rules take effect May 1, 2009. The FTC defines a creditor as any entity that regularly accepts deferred payment for goods and services.