Effective October 20, 2024, a significant new regulation will reshape how hospitals and healthcare providers in New York manage financial transactions with patients—the enactment of N.Y. General Business Law § 519-A, titled “Credit cards and payment for health care services,” introduces stringent controls on using credit cards and other medical financial products in the healthcare setting. This law aims to protect patients from potentially harmful financial practices while ensuring transparency and fairness in the billing process.
Keep reading to see a breakdown of the specifics of the law, its implications for healthcare providers and patients, and the necessary actions to ensure compliance.
Key Provisions of the Law
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