How Does the Sunshine Law Affect Me?
Bonnie L. Cook, MAS
Arkansas Psychiatric Society
The Psychiatrist Payments Sunshine Act (Sunshine Act) requires manufacturers of drugs, medical devices and biologicals that participate in U.S. federal health care programs to report certain payments and items of value given to physicians and teaching hospitals. Manufacturers are required to collect and track payment, transfer and ownership information beginning Aug. 1, 2013. The law requires them to collect data about any payments, ownership interests and other “transfers of value” and annually report it to Centers for Medicaid and Medicare Services “CMS” for publication in an online database. The database is scheduled to be launched next fall with financial information from 2013. In addition, manufacturers and group purchasing organizations (GPOs) must report certain ownership interests held by psychiatrists and their immediate family members. The majority of the information contained in the reports will be available on a public, searchable website.