The Physician Payments Sunshine Act (S.301) requires drug, biologic, and medical device manufacturers to report certain gifts and payments made to physicians

Introduced – January 22, 2009

The Physician Payment Sunshine provisions were included in the Patient Protection and Affordable Care Act of 2009 which was signed into law on March 23, 2010

Start Date for Recording - January 1, 2012
Start Date for Reporting - March 31, 2013
Publication of Reports - September 30, 2013 and June 30th of every future year

Sunday, July 18, 2010

Physician Payment Sunshine Act of 2010

As Physician Payment Sunshine Act became a law under President Obama’s Patient Protection Affordable Care Act, any Purchasing Organization that purchases, arranges for, or negotiates the purchase of a covered drug, device, biological, or medical supply or Manufacturer of a covered drug, device, biological, or medical supply operating in the United States, or in a territory, possession, or commonwealth of the United States is required to publicly disclose gifts and payments made to physicians. Additionally, a referring physician is required to inform the individual in writing at the time of the referral that the individual may obtain the services for which the individual is being referred. Payments under a product development agreement must also be reported as well for services furnished in connection with the development of a new drug, device, biological, or medical supply. Annual report is to be submitted to Congress and State.

Excluded from reporting is a transfer of anything the value of which is less than $10, unless the aggregate amount transferred to, requested by, or designated on behalf of the covered recipient by the applicable manufacturer during the calendar year exceeds $100.

Penalty for each payment not reported can be up to $10,000. Penalty for knowingly failing to submit payment information can be up to $100,000, for each payment.

Reference -http://www.policymed.com/2010/03/physician-payment-sunshine-provisions-patient-protection-affordable-care-act.html

3 comments:

  1. We are a meeting planning firm the Pharmaceutical industry. Transparency is here for meetings and events. The Physician Payments Sunshine Act, though collection starts in 2012, and reporting is not required until 2013. is quickly becoming top of mind at pharmaceutical and biotech firms everywhere. While no one argues that transparency in an industry is "bad", many in the industry are challenged by the implementation of such far reaching legislation. Couple that with the learning curve and technology requirements of reporting and many companies are, quite frankly, scrambling. Check out our Blog at www.americanmeetings.com

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