According to a report from The Wall Street Journal, device companies will report on gifts and compensation individual physicians receive on a public website to launch September 2014 under the Sunshine Act, which went into effect at the beginning of this month.
As a result of the disclosures, many physicians are rethinking their relationships with device companies. The website will report gifts and meals in addition to speaking and consulting fees, according to the report.
CMS advises physicians to keep records of payments and all transfers of value from device companies and industry members. Physicians have around two months to review data on these transactions for accuracy before it's published publicly, according to the report.
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