The Physician Payments Sunshine Act (Sunshine Act) requires manufacturers of drugs, medical devices and biologicals that participate in U.S. federal healthcare programs to report certain payments and items of value given to physicians and teaching hospitals.
Manufacturers were required to collect and track payment, transfer and ownership information beginning August 1, 2013. They must report to the Centers for Medicare & Medicaid Services on an annual basis. In addition, manufacturers and group purchasing organizations must report certain ownership interests held by physicians and their immediate family members. The majority of the information contained in the reports will be available on a public, searchable website. Physicians have the right to review their reports and challenge any that are false, inaccurate or misleading.
The American Medical Association offers a toolkit, so physicians can be prepared when it’s time to review their 2013 financial data before online publication next year.