Act would require drug manufacturers to disclose payments

Disclosure is slowly becoming vogue everywhere. Therefore, you may see less of those prescription drug ink pens and notepads in your physician's office. The Physician Payments Sunshine Act would require companies to disclose money, trinkets, etc. (worth $100 or more) given to physicians. The information would be available online through the Department of Health and Human Services.

Senators Chuck Grassley (R-IA) and Herb Kohl (D-WI) reintroduced their Physician Payments Sunshine Act, which would require that manufacturers and group purchasing organizations disclose all payments or transfers of value to physicians worth $100 or more.

The revised bill includes language mandating disclosure of physician investments in and ownership of manufacturers, and it has sharper teeth. Manufacturers or group purchasing organizations that fail to report payments can be fined between $1,000 and $10,000 per infraction, up to a total fine of $150,000 per company per year, where failure to report is deemed an oversight. For “knowing failure to report,” the ceiling on total fines goes up to $1 million per company.

More here.