Wednesday, July 17, 2013
Payment reporting starts Aug. 1; prepare now
Patients soon will have access to physicians' financial interactions with drug and medical device manufacturers. Such information as payments, ownership interests and other "transfers of value" will be publicly reported in an online database run by the Centers for Medicare & Medicaid Services (CMS).
Under the Physician Payment Sunshine Act, manufacturers of drugs, devices, biological and medical supplies covered by federal health care programs are required to report financial interactions with physicians and teaching hospitals to CMS beginning Aug. 1. The data will be published by Sept. 30, 2014.
In addition to reporting the type of financial exchange and the dollar amount, manufacturers are required to report the reason for the interaction, including consulting, food, ownership or investment interest, direct compensation for speakers and research.
Physicians should prepare now to ensure the accuracy of the data their patients will see when the database launches next year. The best way to get ready is to start with AMA resources.
An archived AMA webinar explains what physicians need to know about the law. By viewing this hourlong recording, physicians can learn which financial exchanges and ownership interests are subject to reporting, how to begin preparing, and the process through which they can challenge false, inaccurate or misleading reports before they come under public scrutiny.
Additional detailed information about the new law, including requirements, key dates and answers to frequently asked questions, is available on the AMA Sunshine Act Web page.
CMS calls to cover EHR incentive program for 2014
Two upcoming calls hosted by the Centers for Medicare & Medicaid Services (CMS) will help physicians understand how to participate in the Medicare electronic health record (EHR) meaningful use program next year.
The first call, to take place at 1:30 p.m. Eastern time July 23, will give an in-depth overview of clinical quality measures included in the final rule for Stage 2 of the program. Presenters also will provide details about the measures, the recommended core set for reporting purposes and the 2014 electronic specifications. Sign up today.
The second call, to take place at 1:30 p.m. Eastern time July 24, will help equip physicians to successfully participate in the meaningful use program and receive an incentive payment. Sign up to participate.
Both calls will include a question-and-answer period.