Many medical professionals are quickly learning about the Sunshine Act

Many medical professionals are quickly learning about the Sunshine Act

The Physician Payments Sunshine Act is affecting medical device and drug manufacturers nationwide. However, the regulation is impacting some of these firms more than others.

For example, The Union Leader, a New Hampshire-based newspaper, reports that many medical professionals are being proactive about complying with Sunshine Act regulations. In fact, quality Sunshine Act reporting software is helping many medical device and drug providers quickly learn how to avoid federal penalties.

"[This software] will help and enhance patient care. It has to because it is shining such a big spotlight on [Sunshine Act regulations]," Sunshine Act expert Michaeline Daboul told the news source.

Sunshine Act violations could result in steep fines
Companies that ignore Sunshine Act regulations will receive significant fines. The act requires medical device and drug manufacturers to report any gifts and payments made to physicians and teaching hospitals with a value totaling $100 annually or more. If they do not, these companies could be penalized up to $1 million annually.

Daboul said that many of these businesses are working diligently to comply with Sunshine Act provisions without delay. By using expense management software, big and small firms could significantly improve their efficiency and develop accurate, timely reports.

Sunshine Act reporting software can be incredibly valuable
First-rate Sunshine Act reporting tools enable medical device and drug providers to enjoy on-the-go functionality. The solutions allow users to create top-notch reports quickly and efficiently, which delivers myriad benefits in short periods of time.

With Sunshine Act reporting software, users can link multiple physicians to a single expense, track physician spending from multiple destinations and much more. Additionally, the platform generates federally required reports immediately to help firms reduce their operating costs.

Companies will enjoy the comprehensive assistance offered by Sunshine Act reporting software. Business professionals can report all physician spending by employee, data, expense total and other criteria. The solution also provides up-to-the-minute reporting on physician payments, further enhancing its value to medical device and drug providers around the country.

Complying with the Sunshine Act can be challenging, especially for those who are just now learning about the act and its provisions. Sunshine Act reporting software makes it easier for business professionals, however, by enabling them to instantly manage their expenses. This solution delivers immediate and long-term value to medical device and drug manufacturers, and these firms can avoid costly errors by using the platform.