As you may be aware, the Sunshine Act is now law. For information regarding the Sunshine Act, please go to: www.psychiatry.org/sunshineact. APA is in the process of developing a webinar on this topic. Further information will be posted as it is received.
Physician Sunshine Act Goes Into Effect
Starting today pharmaceutical and device manufacturers are legally required to begin collecting and tracking any direct or indirect payments or gifts to physicians. If you receive such a gift, then your name and the payment/gift will be reported to the Centers for Medicare and Medicaid Services (CMS). CMS will post the reported transactions a public website known as Open Payments as of September 30, 2014 (https//go.cms.gov/openpayments). Register on the site beginning today so you receive notification of when and if your name is reported as a gift/payment recipient.
The Physician Payments in the Sunshine Act (PPSA) covers payments and gifts valued at $10 or more. The only physicians exempt from the reporting requirement are medical residents because many do not have a National Provider Identifier or a state professional license, both of which are required data. Fellows are not exempt from the reporting requirements.
Among the information that companies will have to report are textbooks such as DSM-5 and the Physician's Desk Reference. Meals valued over $10, in general, must also be reported, as must speaking fees at nonaccredited/noncertified CME events and tuition, lodging, or travel funds received for attending such events.
The rules relating to the PPSA are complex and still developing. APA will hold a webinar on the PPSA on September 12 at noon Eastern and Pacific time to explain the current state of affairs. Registration details will appear in the Psychiatric News Update e-mail newsletter. To access information from APA on what you need to know about the PPSA, click HERE. Meanwhile, APA recommends that you register on the CMS site and before taking payments or gifts from industry, ask whether the gift will be reported.