Sunshine Act 2013 Updates: A Checklist for Pharmaceutical Companies to Meet CMS Reporting

From August 1, 2013, the Sunshine Act is put in effect. The pharmaceutical companies and medical device manufacturers are still laboring to adapt to the Sunshine Act. With hefty penalties of up to $1 Million annually, they better pull up their socks before it's too late.

PR Newswire

DURHAM, N.C., Sept. 9, 2013 /PRNewswire-iReach/ -- The purpose of Sunshine Act is to create transparency of the financial relationship between pharmaceuticals, medical devices companies with the doctors. Though the act is now in effect since August 1, 2013, and data collections from the companies have started, a complete set of records will only be available to public in September 2014. Therefore understanding the intricacies of Sunshine Act is fundamental for the industry, as a tiny reporting error by a manufacturer may trigger penalties of up to $150,000 annually. Join expert speaker Dr. Mukesh Kumar will provide a checklist for the sponsors in information packed audio session on Sunshine Act reporting and requirements at Audioeducator.com.

The Sunshine Act Reporting for Clinical Trials

Dr. Mukesh Kumar will take this session "The Sunshine Act Reporting for Clinical Trials" on September 10, 2013, to help you comprehend the new requirements and provide invaluable advice on templates for reporting format, acceptable accounting practices, exemptions to reporting requirements, and timelines for compliance and enforcement. Dr. Kumar will also shed insights on the processes for reporting to CMS; provide templates for reporting formats; and timelines for reporting.

The Sunshine Act has exposed the physicians and pharmaceutical companies to new reporting requirements, and non-compliance to which would lead to hefty fines.  

Take a look at the topics covered:

  • Understanding the clinical trial financial reporting requirements
  • Know the kind of payments covered and exempted for reporting to CMS
  • Insights on the format of reporting to CMS
  • How to deal with CMS's inquiries regarding reported information
  • Find out the Acceptable and unacceptable practices
  • Comparison of Federal reporting requirements with industry best practices
  • Legal and practical implications of reporting financial information for investigators
  • Know the regulatory solutions for most common anticipated issues with reporting

For more information http://www.audioeducator.com/pharma-biotech/sunshine-act-091013.html

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AudioEducator.com brings you these informative audio conferences. Get up-to-the-minute information and advancements on healthcare, pharmaceuticals, medical devices through revealing conferences, on a wide array of topics, ranging from medical coding, billing, compliance, to CPT changes, E/M Modifiers, OIG work plan, coding for colonoscopies, Radiology, fee schedule, Electronic Health Record system, ICD 10 transition and more. Get trained from the comfort of your home or office, without spending a penny on travel. Pick a medium of your choice, be it a live conference/On Demand/ CD/ PDF transcripts as per convenience.

To learn more about other updates events for more than 20 specialties, please visit http://www.audioeducator.com/

Media Contact: Adam K, Audio Educator, 866-458-2965, customerservice@audioeducator.com

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