The Federal Trade Commission (FTC) has again delayed the enforcement date for the Red Flags Rule, which would consider physicians as creditors, like banks and other lenders.
The newest delay was enacted to give Congress time to consider “legislation that would affect the scope of entities covered by the Rule,” according to the FTC.
The deadline for compliance is now Jan. 1, 2011. This marks the fifth time the rule’s enforcement has been delayed. The most recent deadline to begin enforcing the rule was June 1.
“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,” said Cecil B. Wilson, M.D., AMA President-elect.
Last month, the AMA, the American Osteopathic Association and the Medical Society of the District of Columbia filed a lawsuit in federal court to block the FTC from extending the Red Flags Rule to physicians who do not collect patient payment in full when services are delivered. The legal action continues.
To learn more, see the FTC website.