Sunday, February 26, 2012

The Physician Payment Sunshine Provision

Under a proposed federal rule, the Physician Payment Sunshine Provision of the Affordable Care Act, drug companies, medical device and medical equipment manufacturers will have to disclose payments and gifts they make to physicians and hospitals. Under this rule, companies would have to report any gifts, food, educational or conference funding, charitable contribution and payments over $10 (or with a total annual amount exceeding $100) made to physicians and or hospitals. They will also be required to report stock ownership or investments in the companies by physicians. The purpose of the provision is to ensure transparency, prevent conflicts of interest and discourage any potential influence on clinical decision making.
If the companies do not comply with the provision they could face a $150,000 fine for failing to make the report and up to $ 1 million for failing to report transfers of value.  CMS anticipates beginning requiring data collection sometime in 2012, with reports due sometime in 2013.  The final rule is set to be published in a few months.

Physician Payments Sunshine Provisions in Health Care Reform,
Why Small Gifts Matter,

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