Veterinary hospitals are now subject to the Red Flags Rule, a federal directive aimed at reducing identity theft. As of May 1*, the Federal Trade Commission requires businesses that offer clients deferred payments—any method where clients don't pay when services are rendered, including pet insurance or third-party payment plans—to create, execute, and manage an ongoing antitheft program. To help veterinary teams comply with the Red Flags Rule, the American Veterinary Medical Association plans to offer Webcasts in the near future that feature information from an outside specialist. In the meantime, visit the Federal Trade Commission’s Web site, ftc.gov/redflagsrule, to learn more.
*Implementation delayed until August 1. Click here to find out why.