CMS finalizes rule adopting electronic fund transfer standard

The Centers for Medicare & Medicaid Services on July 11 finalized an interim rule adopting federal standards for the electronic transfer of health care funds and remittance advice under the Health Insurance Portability and Accountability Act. The AHA-supported rule adopts the Electronic Payment Association's NACHA CCD+ standard, which will help health care providers associate health care payments with the payer's remittance advice details.

After reviewing comments, CMS said it decided to adopt the interim rule without changes as a final rule, meaning hospitals and other HIPAA-covered entities must comply with the new standard by January 2014. In March, AHA urged CMS to promptly release a rule adopting operating rules for the new standard.