Payment Systems

News & Analysis as of

FCAC Issues New and Amended Code of Conduct Guidance

On July 29, 2016, the Financial Consumer Agency of Canada (FCAC) published the following guidance documents on its website: - Amended Commissioner’s Guidance 10 (CG-10) – Increased Disclosure in Sales and Business...more

Managing the Transition to Transformation: Implementing a CJR Collaborator Agreement

Summary - McDermott’s Managing the Transition to Transformation series is designed to help health systems and other health care industry leaders address the many challenges presented by the transformation in payment and...more

CMS Proposes New Bundled Payment Models for Cardiac and Orthopedic Care

On July 25, 2016, CMS posted a proposed rule that would create three new Medicare Parts A and B episode payment models for patients admitted for care for a heart attack, bypass surgery or surgical hip/femur fracture treatment...more

Blog: FCA publishes final guidance on the Payment Accounts Directive & Regulations

The UK’s Financial Conduct Authority has published its Final Guidance on the Definition of a “payment account“ under, and the application of the “Packaged Accounts” rules in, the UK’s Payment Accounts Regulations. The...more

CMS Proposes CY 2017 Home Health PPS Rate, Updates to ValueBased Purchasing Model and Quality Reporting

The US Department of Health and Human Services (HHS) Centers for Medicare & Medicaid Services (CMS) released proposed updates to its Calendar Year (CY) 2017 Home Health Prospective Payment System (HH PPS) in the July 5, 2016,...more

Managing the Transition to Transformation: Changing the Dynamic: How Alternative Payment Systems Are Changing the Strategic Goals...

Introduction - The transition of the US health care payment system from fee-for-service (FFS) to alternative value-based, budget-based, episode or procedure-based (e.g., bundled) and/or population-based payment models...more

Omni Hotels latest hotel chain hit with malware

Omni Hotels notified guests on Friday, July 8, 2016, that its point of sale systems were compromised with malware from December 23, 2015, through June 15, 2016....more

CMS Releases Proposed Outpatient Payment System Rule for 2017, Leaving Hospitals Unhappy

Last week, the Centers for Medicare and Medicaid Services (CMS) released its proposed rule for the Hospital Outpatient Prospective Payment System (OPPS) and the Ambulatory Surgical Center (ASC) Payment System for 2017. CMS...more

CMS Proposed Rule Implements Limitations on Medicare Payments for Off-Campus Outpatient Hospital Departments

In Depth - Background - On July 6, 2016, the Centers for Medicare & Medicaid Services (CMS) released the CY 2017 Outpatient Prospective Payment System (OPPS) Proposed Rule, which includes proposed regulations to...more

Also In The News - Health Headlines - July 2016

CMS Proposes Home Health Payment Reduction in 2017 – On June 27, 2016, CMS released a proposed rule that would decrease payments to home health providers by one percent, or $180 million, in calendar year 2017. Home health...more

Summary: PAMA Final Rule

Market Based Payment for Clinical Diagnostic Laboratory Tests - Summary - On June 17, 2016 the Centers of Medicare & Medicaid Services (CMS) issued the long awaited Medicare Clinical Diagnostic Laboratory Tests...more

A Storm Brews: Retailers Push Back Against Payment Card Industry Data Security Standards

As businesses and financial institutions grapple with data security in the wake of high profile breaches, tensions between retailers and the credit card industry over the creation and implementation of security standards...more

Brexit: Stay Calm, but Be Prepared for Changes

We all woke up on June 24th to the surprising news that the UK voted to leave the European Union following a contentious referendum. The vote was very close, with 52% voting to leave and 48% voting to remain. Markets are...more

CMS Overhauls Clinical Laboratory Fee Schedule with Long-anticipated Final Rule

On June 17, 2016, CMS released a long-anticipated final rule revising the Medicare payment system for clinical diagnostic laboratory tests paid under the Clinical Laboratory Fee Schedule (CLFS) (the Final Rule). In 2018,...more

UK Financial Regulatory Developments - June 2016 #5

Payments UK publishes consumer payment guide - Payments UK has published a guide to help consumers avoid mistakes when sending electronic payments. (Source: Payments UK publishes consumer payment guide) Law Society...more

Manatt on Medicaid: Leveraging MMC Contracts to Advance Reforms

Editor's Note: This “Manatt on Medicaid” is the fourth in a series of updates focused on CMS’s new Medicaid/CHIP managed care regulations. In the coming weeks, Manatt will be exploring key provisions of the regulations and...more

No More Bidding – CMS 2, EGWPs 1

This Spring, CMS informed MAOs that offer Medicare Advantage EGWPs (employer group waiver plans) that they were no longer required to submit annual bids for EGWPs. Based on CMS’s explanation of why it adopted this change, it...more

New Guidance From FFIEC on Mobile Financial Services

Examiners will be paying more attention to mobile financial services (MFS) using new guidance recently issued by the Federal Financial Institutions Examination Council (FFIEC)....more

Blog: UK FCA Writes To Currency Transfer Service Providers, After MP Criticises It For Failing To Act

The UK’s Financial Conduct Authority has e-mailed currency transfer service providers about their legal obligations, when they’re advertising exchange rates. The e-mail seems to have been sent in response to Parliamentary...more

CMS Proposes Fiscal Year 2017 Payment for Skilled Nursing Facilities and Provisions for FY 2019 Value-Based Purchasing...

Overall, the Proposed Rule details CMS’s proposals for SNFs in CMS’s accelerating pace of shifting Medicare payment from volume to value toward the administration’s goals and timeline for moving the Medicare program, and the...more

PayPal reaches settlement with Texas AG over privacy and security disclosures

PayPal agreed to pay $175,000 and strengthen its privacy and security disclosures in a settlement agreement reached with the Texas Attorney General’s office (the “AG’s office”). The AG’s office claimed that PayPal failed to...more

The Continuing Mystery of Satoshi Nakamoto

Bitcoin was born on November 2008 when an anonymous user named “Satoshi Nakamoto” published a post on a cryptography blog linking to a paper the user had written about a decentralized peer-to-peer electronic cash system. ...more

New Mobile Financial Services Appendix

The Federal Financial Institutions Examination Council recently issued a new appendix on “Mobile Financial Services” to the Retail Payment Systems booklet of the FFIEC Information Technology Handbook. The appendix...more

Manatt on Medicaid: Massachusetts Releases Details on Forthcoming DSRIP Waiver Proposal

Medicaid Accountable Care Organizations - On April 14, 2016, the Massachusetts Executive Office of Health and Human Services released new details on a proposed restructuring of the MassHealth (Massachusetts Medicaid)...more

Reality and Trend of China’s Regulation on Payment Service by Non-Financial Institutions 2016

Understanding the payments regulatory environment in China—both the existing regime and pending developments—is essential for companies engaged in cross-border payments activities (particularly non-financial institutions). At...more

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