What you need to know if you have clients in the healthcare industry (US law)
The HITECH Act made dramatic changes in the manner in which the Health Insurance Portability and Accountability Act applies to advisers and consultants like CPAs with healthcare clients, such as physician practices. Effective September of 2013, the same data security requirements, confidentiality rules and civil and criminal penalties apply to CPAs as applying to physicians, dentists, and other healthcare entities! This presents serious challenges to even routine bookkeeping services and especially so for firms engaged in giving advice about medical billing procedures, to say nothing of auditors, valuation consultants, and litigation experts.
What you will learn:
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