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Biopharma Payment Crackdown
Manufacturers of branded and generic drugs, biologicals, devices, or medical supplies subject to reimbursement under Medicare, Medicaid, or the Children's Health Insurance Program now must report to the federal government data on their payments to physicians or teaching hospitals starting in August, under new regulations. The rules—required under section 6002 of President Obama’s Affordable Care Act (ACA)—require manufacturers to report their data on payments or “transfers of value” by March 31, 2014, and every year thereafter to the Centers for Medicare & Medicaid Services (CMS). (For more on the new regulations, click here.) What kind of an effect do you think this will have on the biopharma industry?