On Friday, February 1, 2013, the Centers for Medicare and Medicaid Services (CMS) released the highly anticipated final rule to implement the federal Physician Payments Sunshine Act (the “Sunshine Act”). The final rule will be officially published in the Federal Register on February 8, 2013.
The Sunshine Act was passed in March 2010 as part of the Patient Protection and Affordable Care Act. The law requires certain pharmaceutical, biologic, and medical device manufacturers to annually report to CMS payments or other transfers of value they furnish to physicians and teaching hospitals (deemed “covered recipients”). In addition, the law requires certain manufacturers and group purchasing organizations (GPOs) to report ownership or investment interests in their organizations held by physicians. CMS is required to aggregate the information manufacturers and GPOs submit and make it publicly available through a searchable website. The agency issued a proposed rule to implement the requirements in December 2011; comments were due by February 17, 2012.
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Topics: CHIP, CMS, Continuing Medical Education, Disclosure Requirements, Drug Manufacturers, GPOs, Medicaid, Medical Devices, Medical Research, Medicare, Payment Records, Physicians, Sunshine Act
Published In: General Business Updates, Health Updates, Insurance Updates, Science, Computers & Technology Updates