The Medicare Payment Advisory Commission (MedPAC) has started considering recommendations that would require new disclosures regarding financial relationships between drug manufacturers, device makers, physicians and other providers. The recommendations are a sign of the times, as they come on the heels of a growing series of legal decisions, regulations and laws expanding such disclosure rules.
One recommendation would establish a new federal law requiring all makers of drugs, biologicals, medical devices and suppliers, and their subsidiaries to submit data on their financial relationships with various providers. That would include physicians and other prescribers, hospitals and medical schools, professional and patient-safety groups and organizations sponsoring CME programs.
Other proposed recommendations would require hospitals and ambulatory surgery centers to report every year on each physician who directly or indirectly owns an interest in an ASC. Also, HHS would submit a report on the prevalence of financial relationships between hospitals and physicians.
To learn more about MedPAC's ideas:
- read this Modern Healthcare piece (reg. req.)
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