Transparency Reports and Reporting of Physician Ownership and Investment Interests
On March 23, 2010, President Obama signed into law the Patient Protection and Affordable Care Act, which, among other things, imposes certain reporting obligations on manufacturers of drugs, devices and biologicals; and group purchasing organizations. A new Section 1128G has been added to the Social Security Act, titled, "Transparency Reports and Reporting of Physician Ownership and Investment Interests," which encompasses many aspects of Senator Chuck Grassley's "Physician Payment Sunshine Act" and focuses on greater transparency in relationships between health care professionals and entities and industry.
- name and business address of the CR;
- physician specialty and National Provider Identifier (if applicable);
- amount and date of payment or transfer;
form of payment, some examples include:
- in-kind items or services; and
- ownership interests;
nature of payment or transfer, some examples include:
- consulting fees;
- compensation for services other than consulting;
- food and entertainment;
- travel (including the specific destinations);
- education, research and grants;
- royalty and license;
- current or prospective ownership or investment interests.
- a transfer of anything of value that is made indirectly to a CR through a third party in connection with a service where the applicable manufacturer is unaware of the identity of the CR;
- a transfer of anything the value of which is less than $10 unless the aggregate amount transferred to, requested by or designated on behalf of the CR by the manufacturer during the calendar year exceeds $100;
- certain product samples;
- certain educational materials;
- certain loans of devices for evaluation purposes;
- discounts (including rebates);
- in-kind items used for the provision of charity care; and
- a dividend or other profit distribution from, or ownership or investment interest in, a publicly traded security or mutual fund.