Health Care Law Blog
Under the Patient Protection and Affordable Care Act, companies that provide drugs, medical devices, biologicals or other medical supplies covered by certain government programs (Medicare, Medicaid or the Children's Health Insurance Program) are required to annually report certain payments they make to physicians. According to a recently issued final rule, payment categories will include:
- Consulting fees;
- Fees for speaking at conferences;
- Gifts, food, and entertainment; and
- Travel and charitable contributions.
The final rule also requires manufacturers and group purchasing organizations to disclose physician ownership or investment interests.
Companies subject to the final rule must begin collecting data on August 1, 2013, and must submit reports to the Centers for Medicare and Medicaid Services (“CMS”) beginning March 31, 2014.
By September 30, 2014, CMS will have created a searchable online database making the information easily accessible to patients and the public at large. “You should know when your doctor has a financial relationship with the companies that manufacture or supply the medicines or medical devices you may need,” Peter Budetti, CMS deputy administrator for Program Integrity, said in a statement. “Disclosure of these relationships allows patients to have more informed discussions with their doctors” (Bloomberg News, 2/11/13).
The American Medical Association President Jeremy Lazarus said his group would “carefully review” the final rule.
For more information on how this rule may affect your company or medical practice, please contact Nicole Stratton or Mindi Johnson by using the form below.
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