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BLOG: Office of Management and Budget is on the clock for Physician Payment Sunshine Act final rule
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From international law firm Arnold & Porter LLP comes timely views on current regulatory and legislative topics that weigh on the minds of today’s physicians and health care executives.
According to the Office of Management and Budget (OMB), the Physician Payment Sunshine Act (PPSA) final rule has been completed by the Centers for Medicare and Medicaid Services (CMS) and submitted for regulatory review. The OMB’s review, performed by the Office of Information and Regulatory Affairs, will evaluate the economic impact of the final rule on the industry segment to be regulated. OMB will now have 90 days in which to complete its task (a proposed issue date is Mon., Feb. 25, 2013).
Readers may recall that the proposed rule was originally issued by CMS on Dec. 19, 2011. Notably, CMS received over 300 comments from more than 60 stakeholders during the 60-day comment period for the proposed rule.
Drafted as part of the Affordable Care Act, the PPSA generally requires all manufacturers of drugs, devices, biologicals, or medical supplies to track and report all “payments or other transfers of value” greater than $10 made to physicians or teaching hospitals, or multiple transfers of less than $10 that cumulatively exceed $100. Important exclusions and other key elements of these reporting and disclosure requirements are discussed in Arnold & Porter’s detailed advisory on the PPSA. Not surprisingly, the potential implementation burden of these reporting and disclosure requirements has generated a significant amount of criticism from across the health care industry.
Ted Lotchin, JD, MPH, can be reached at Arnold & Porter LLP, 555 12th St. NW, Washington, DC 20004-1206; 202-942-5250; email: Ted.Lotchin@aporter.com
Mahnu Davar, JD, MBe, can be reached at Arnold & Porter LLP, 555 12th St. NW, Washington, DC 20004-1206; 202-942-6172; email: mahnu.davar@aporter.com.