About the Topic Brief
Following much anticipation on the part of health care industry members, CMS released its long-awaited final rule on the Physician Payment Sunshine Act in February 2013, clarifiying new financial disclosure requirements governing pharmaceutical and medical device manufacturers.
The rule includes extensive and potentially time-consuming mandates for drug and device companies, including reporting of annual payments to physicians and teaching hospitals.
The costs for noncompliance are substantial: applicable manufacturers face stiff civil monetary penalties (CMP) from $150,000 to $1,000,000 for deficient reporting.
Read on for legal insight from Kyle Sampson from Hunton & Williams LLP on this topic and the consequences for your organization.
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