For weeks, we’ve been hearing about the “Sunshine Act” and how it might or might not affect the dental industry.
The Physician Payment Sunshine Act (“Sunshine Act”) requires most companies that make, package, market, or sell healthcare products to document and report nearly all direct and indirect financial interactions with various healthcare professionals (“HCPs”) to the federal government.
You can see the complete text of the final rule on the Sunshine Act here, as well as what pieces of that final rule could directly play a role on those in the dental industry.
In a webinar sponsored earlier today by the Dental Trade Alliance (DTA), Berkeley Research Group, LLC presented some interesting findings regarding the Sunshine Act.
As of today, August 1, “Applicable Manufacturers” of “Covered Products” are required to disclose certain “payments and other transfers of value (“TOV”) made to “Covered Recipients” to Centers for Medicare and Medicaid Services (CMS), who will make the information publicly available.
In other words … Companies that make, package, market or sell at least one federally reimbursable healthcare product have to capture and report direct and indirect financial interactions with HCPs and teaching hospitals to CMS, who will post this information on a public website. Interactions will be reported in aggregate by company, specific HCP/entity, and type of TOV.
So what does that mean for dental companies and HCPs? You can learn more by contacting the DTA for a replay of the webinar.
