Sunshine act takes effect

Sunshine act takes effect

Doctors, physicians, and other medical professionals, take note: the Physician Payments Sunshine Act has taken effect. This provision of the Affordable Care Act, which declares that all affected professionals disclose any financial exchanges or covered expenses, took hold on August 1. Many have worried that the law, which aims to create a greater level of transparency in regards to exchanges between pharmaceutical professionals and medical doctors, will lead to reduced efficiency.

"We want to spend our time seeing patients, not doing paperwork," argued Dr. Jason Mitchell, the director of the Center for Health IT at the American Academy for Family Physicians, while speaking to Kaiser Health News.

Mitchell feels that not only will the increased mandatory filings cost doctors time, but he argues that it will lead to doctors avoiding meetings with other medical professionals altogether - which could end up having a negative impact on their clients health. While Mitchell supports the aim for transparency, he worries that doctors will end up with the short end of the stick, filing paperwork when they could be aiding patients.

"Transparency is a good thing ... but we certainly don't want an increased burden," he said.

Avoid time-wasting paperwork with the help of an expense management system
Under the provisions of the Sunshine Act, medical professionals are required to report any gifts, payments, or expenditures transferred between themselves and other professionals in the industry. Failure to comply will result in annual fines ranging from $10,000 to $1,000,000 - so the pressure to ensure that every single expense is recorded properly is incredibly high.

Luckily, Certify's expense management software is here to help you, ensuring that time is never taken away from your patients for the sake of logging expenses. Our cloud-based expense report software won't just help you properly log your costs - it provides instant access to the federally mandated report sheets, making the troublesome process quick and easy.

The system also allows easy access into the National Provider Identifier Database, making it even simpler to search and attain appropriate physicians and firms for the sake of your reports.

For medical professionals, the institution of the Sunshine Act likely represents a major shift in the way they'll do business - but it doesn't have to. With Certify's optimized software, you can ensure that your medical firm will hardly even notice the transition.