They say it’s better late than never.
The Centers for Medicare and Medicaid finally issued the final rules related to the Physician Payment Sunshine Act on Friday, nearly three years after the law that required its creation was signed in March 2010.
Medical device manufacturers and group purchasing organizations need to begin collecting data related to how they compensate physicians starting Aug. 1, and report those to CMS by March 1, 2014.
The federal law pre-empts any state laws addressing such relationships, a big relief to medical device manufacturers like Medtronic who have operations nationwide and would have been hamstrung by 50 different versions. Medtronic has been supportive of the federal bipartisan bill and fretted loudly at CMS’ delay in issuing the final regulations.