Going forward, manufacturers of medical devices, pharmaceuticals or medical supplies will be required to report payments/incentives made to physicians and teaching hospitals. Physicians’ ownerships and investment interests must also be identified and reported. Those reports are to be submitted electronically to the Secretary of the Department of Health and Human Services (HHS) on an annual basis, the first of which is due by March 31, 2014. The aggregated reports will be searchable via an online public record.
As a result, the industry has been trying to identify best practices in aiming their processes and technologies for what is finally a confirmed, albeit ambiguous, target.