Medtronic has taken a leadership role to promote transparency into the collaboration between physicians and industry. In 2008, we supported legislation that would require industry-wide reporting of physician compensation, known as the Physician Payments Sunshine Act. Congress passed a version of the Sunshine legislation in 2010 in the Patient Protection and Affordable Care Act (PPACA).
The “Sunshine Act” requires Medtronic and all other life science manufacturers to report to the federal government payments and other “transfers of value” to U.S. physicians and teaching hospitals. Transfers of value include, among other things, meals or lodging costs associated with education programs and other lawful courtesies provided in the course of doing business, compensation for consulting services, royalty payments and others.
The Sunshine Act requires tracking payments and transfers of value beginning August 1, 2013. Medtronic will report all data collected between August 1 and December 31, 2013, to the government by March 31, 2014. The government is required to publish 2013 Sunshine Act data on a public, searchable government-maintained website by September 30, 2014.
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For more information about Medtronic and the Sunshine Act, please contact us.