Under the Sunshine Act, pharmaceutical, medical device, biological and medical supply manufacturers that make any “payment or other transfer of value” of $10 or more to physicians and teaching hospitals must report the transaction to HHS.
Beginning tomorrow, manufacturers are required to collect and track payment, transfer and ownership information. Manufacturers and group purchasing organizations must also report certain ownership interests held by physicians and their immediate family members, according to the American Medical Assocaition.
Manufacturers and GPOs will then report this data to CMS by March 31, 2014, and CMS will publish these interactions on a public, searchable website by the end of September 2014.
Before the data is published, CMS will launch an online portal in January 2014. Physicians can sign up to receive notice when their financial disclosures are available for review and correction.
More Articles on the Sunshine Act:
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