The Physician Payment Sunshine Act (or Sunshine Act) implements a provision of the Affordable Care Act (ACA) that requires i) certain manufacturers to report payments and transfers of value to physicians and teaching hospitals, and ii) certain manufacturers and group purchasing organizations (GPOs) to report ownership or investment interests of physicians and their immediate family members.
The Sunshine Act is strictly a disclosure law, and therefore, does not prohibit payments or ban investment interests. Nonetheless, the bio-industry, while supporting the need for transparency, is concerned how the law will hamper support for educational endeavors and product training, among other sponsored activities. The final rules issued by the Center for Medicare & Medicaid Services (CMS) for the Sunshine Act creates a structure where administrative and oversight costs appears far outweigh the potential benefit, especially in terms of spurring innovation, ensuring patient access to new technologies and drugs, and enhancing biomedical education and training.
MichBio supports appropriate disclosure of relationships between pharmaceutical and medical technology companies and physicians/teaching hospitals.