When the Affordable Care Act was signed into law in 2010, the face of health care in the United States went through a massive change in a number of ways, for both consumers and business owners.
If you own a company, you likely know about this all too well. And one of the biggest adjustments has to do with disclosure rules.
It's called the Physicians Payments Sunshine Act.
As of August of last year, all companies that deal with physicians and hospitals - such as manufacturers of medical devices, pharmaceutical firms and makers of biological products - are now required to report any payments made to doctors at health care centers and/or teaching hospitals to the Centers for Medicare & Medicaid Services, which operates under the umbrella of the U.S. Department of Health and Human Services.
Anything more than $10 has to be reported. This includes expenses related to food, education, travel, consulting fees or charity contributions. Those that don't may be hit with a costly fin...