What is Physician Payments Sunshine Act anyway?

On January 22, 2009, Senators Chuck Grassley and Herb Kohl introduced legislation to require makers of pharmaceuticals, medical devices and biologics to publicly report money they give to doctors over $100 every year. The Physician Payments Sunshine Act (S.301) requires drug, biologic, and medical device manufacturers to report certain gifts and payments made to physicians. The information will be registered in a national and publicly accessible online database. Companies failing to report incur financial penalties.

Quote by Senator Chuck Grassley – “Shedding light on industry payments to physicians would be good for the system. Transparency fosters accountability, and the public has a right to know about financial relationships. Patients rely on their doctors’ advice. Taxpayers spend billions every year on prescription drugs and medical devices through Medicare and Medicaid. They also fund tens of billions of dollars of medical research each year, and the doctors conducting that research have a big influence on the practice of medicine.” (quotation source is http://grassley.senate.gov/news/Article.cfm?customel_dataPageID_1502=18901).

Quote by Senator Herb Kohl - “Since we first introduced the bill, there has been a groundswell of support from every corner. Patients want to know that they can fully trust the relationship they have with their doctor. I am confident this legislation will pass during the 111th Congress.” (quotation source is http://grassley.senate.gov/news/Article.cfm?customel_dataPageID_1502=18901).