The Centers for Medicare and Medicaid Services (CMS) finally released its proposed rule on what's commonly referred to as the “Sunshine provision,” of the Patient Protection and Affordable Care Act, which will create new reporting requirements for pharmaceutical and medical products companies.
The provision (Section 6002) adds a section to the Social Security Act that requires manufacturers of drugs, devices, biologicals, and medical supplies covered under Medicare, Medicaid, or the Children's Health Insurance Program (CHIP), to report annually to CMS payments or other transfers of value to physicians and teaching hospitals. The companies also need to provide information on investments ...