CMS has released its final rule that will require drug, device, biologic and medical supply manufacturers to report payments and gifts they provide to physicians and teaching hospitals.
Under the rule, which is Section 6002 of the Patient Protection and Affordable Care Act, companies covered by any federal health program must report any consulting fees, food, entertainment, travel, charitable contributions, research and honoraria provided to physicians and teaching hospitals on an annual basis, among other categories of "transfers of value."
A section of the rule also requires applicable manufacturers and group purchasing organizations to report certain information pertaining to physicians' ownership or investment interests.
The first reporting period will begin Aug. 1, when applicable organizations must begin to collect data. They must report that data to CMS by March 31, 2014. CMS will use this information to create an online database and share payment disclosures on a public website.
The complete 287-page final rule can be read here (pdf).
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Under the rule, which is Section 6002 of the Patient Protection and Affordable Care Act, companies covered by any federal health program must report any consulting fees, food, entertainment, travel, charitable contributions, research and honoraria provided to physicians and teaching hospitals on an annual basis, among other categories of "transfers of value."
A section of the rule also requires applicable manufacturers and group purchasing organizations to report certain information pertaining to physicians' ownership or investment interests.
The first reporting period will begin Aug. 1, when applicable organizations must begin to collect data. They must report that data to CMS by March 31, 2014. CMS will use this information to create an online database and share payment disclosures on a public website.
The complete 287-page final rule can be read here (pdf).
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