Payment Systems

News & Analysis as of

US Federal Reserve Board Secure Payments Task Force Seeks Comments from Industry Participants

The Secure Payments Task Force, a 160-member task force convened by the US Federal Reserve Board to advance the safety, security and resiliency of the national payment system, requested comments from payment system industry...more

CMS Schedules Meeting on FY 2018 IPPS New Technology Applications

CMS has announced a February 14, 2017 town hall meeting to discuss FY 2018 applications for add-on payments for new medical services and technologies under the Medicare hospital inpatient prospective payment system (IPPS)....more

A Selfie’s Worth a Thousand Dollars

A picture might be worth a thousand words, but could it also be worth a thousand dollars? New technology by MasterCard and Amazon may mean that the new hammock you’ve been eying online is only a camera flash away....more

US Federal Reserve Board Task Forces Begin Review of Faster Payments Solution Proposals

Nearly 500 members of two national task forces convened by the US Federal Reserve Board began their review of nineteen proposals submitted by interested task force members across the payments industry that outline potential...more

CMS Releases Much Anticipated MACRA Final Rule

On October 14, 2016, CMS issued its Final Rule for the new physician payment system under the Medicare Access and CHIP Reauthorization Act of 2015 (MACRA). MACRA replaced the Medicare Sustainable Growth Rate (SGR) with a new...more

DWT Hosts Faster Payments Panel

On October 18, 2016, DWT hosted a NYPAY panel titled “What’s Next for the Networks in a World of Faster Payments?” NYPAY is a New York-based forum for the payments and mobile commerce industry. The recent panel was part of a...more

UK Payment Systems Regulator Publishes Final Guidance on the European Interchange Fee Regulation

The UK Payment Systems Regulator published the final Guidance on its approach to monitoring compliance with the EU Interchange Fee Regulation. The final Guidance consolidates the previous final Guidance published in March...more

Bank of England Proposes Code of Practice for Recognized Payment System Operators

The Bank of England published a consultation paper proposing the introduction of a draft Code of Practice and Supervisory Statement on governance in recognized payment system operators. The final Code and the Supervisory...more

Trump Hotel Settles with NY Attorney General Over Credit Card Breaches

Trump International Hotels Management has agreed to pay the State of New York $50,000 for two data breaches that exposed over 70,000 customer credit card numbers and other personal information, according to New York Attorney...more

CMS Corrects FY 2017 Medicare IPPS/LTCH Final Rule

CMS has corrected a series of technical and typographical errors in its final rule updating the Medicare acute hospital inpatient prospective payment system (IPPS) and long-term care hospital (LTCH) prospective payment system...more

UK Payment Systems Regulator Designates BACS Current Account Switching Service as an Alternative Arrangement

The UK Payment Systems Regulator published a decision designating the Current Account Switch Service operated by BACS Payment Schemes Limited as an alternative arrangement under the Payment Accounts Regulations 2015...more

CMS Releases 2017 Medicare Hospital Payment Rates, Penalties for Poor Performers

Earlier this month, the Centers for Medicare & Medicaid Services (CMS) issued a final rule (Final Rule) modifying the Hospital Inpatient Prospective Payment System (IPPS) and Long Term Acute Care Hospital (LTCH) Prospective...more

New Kazakhstan Law on Payments and Payment Systems

On 26 July 2016, a new Law of the Republic of Kazakhstan No. 11-V? “On Payments and Payment Systems” (the Law on Payments) was adopted. Save for a number of certain provisions, the new Law on Payments comes into force on 10...more

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

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