Big Pharma finally required to report physician payments. Read the Federal Reg here.
Big Pharma has paid astronomical amounts of money to physicians every year. They claim it is for education and the like. But, studies show that the physicians who accept that money end up - surprise of surprises - prescribing a lot more of the payor's drug products. With billions of dollars at stake you can see why Big Pharma is wanting to "educate" physicians so much. And, the pharmaceutical giants have been able to keep the details a secret. Well, in 122 days [August 1, 2013] the pharmaceutical giants must start reporting the payments they make to physicians to the US Government, which will begin reporting that data in the Fall of 2014, as required by the Physician Payment Sunshine Act. For those interested in the details of the reporting rules you can read the rules in the actual Federal Register here.