As of August 1st,
certain manufacturers of drugs, medical devices and biologicals are
tracking their payments to physicians, as required by the Physician
Payments Sunshine Act (Sunshine Act), which is part of the Affordable
Care Act. They will report payments and other items of value worth more
than $10, as well as certain ownership interests held by physicians and
immediate family members, to CMS annually. Reporting may begin
immediately, on a voluntary basis, and must begin by next January. CMS
will post the information, by physician, on a public, searchable
website.
CMS published the final regulations implementing the Act on February 1, 2013, and we summarized the rule in an Alert dated February 18th.
We refer readers to that Alert for information on the “applicable
manufacturers,” the definition of “covered products,” the form and
nature of payments and other “transfers of value” that must be reported
and reportable ownership and investment...
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