In this issue: CMS Issued New HIPAA Electronic Funds Transfers Standards; Healthcare Reform News Final Medical-Loss Ratio Rule Issued By CMS Leaves Concerns Of Insurance Brokers Out In The Cold; Reimbursement News Late Congressional Action Staves Off 27.4 Percent Reduction In Medicare Physician Fee Schedule For Two Months; Litigation News FTC Opinion Summary: and In the Matter of the North Carolina State Board of Dental Examiners.
Excerpt from CMS Issued New HIPAA Electronic Funds Transfers Standards
On January 5, 2012, CMS issued an Interim Final Rule that specifies new standards under HIPAA for electronic funds transfers (EFT) and remittance advice transactions. Comments are due within 60 days after publication of this regulation, which is the second in a series of regulations to be issued over the next five years as required by Section 1104 of the Affordable Care Act’s administrative simplification provisions to standardize electronic healthcare transactions. Once finalized, all covered entities must comply by January 1, 2014...
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