Understanding the Sunshine Act & Its Affects on Organizations How Does Your Businesses Expense Management Process Stack Up?

Recorded Webinar

Understanding the Sunshine Act & Its Affects on Organizations How Does Your Businesses Expense Management Process Stack Up?

Preparing for the Sunshine Act - The Patient Protection and Affordable Care Act

Original air date: June 25, 2013

Speakers: Bob Neveu, President at Certify

Abstract

The Sunshine Act requires all U.S. drug and medical device manufacturers to report any gifts and payments made to physicians and teaching hospitals with a value totaling $100 annually or greater, as part of the Patient Protection and Affordable Car Act of 2009. Failure to stay in compliance may result in fines ranging from $10,000 to $1,000,000 annually.

Companies have been required to capture data as of August 1, 2013, and submitted their first federal reports on March 31, 2014.

Key Takeaways

  • 47% of physicians and compliance officers don't know about the Sunshine Act
  • Manufacturers must report all spend made to physicians over $10
  • The Act went into effect August 1, 2013
  • Manufacturers are responsible for all data collection and reporting
  • The "CMS" estimated the Sunshine Act would cost companies a total of $269 million in the first year

Slides from the webinar

About the Presenters

Bob Neveu Image
Robert Neveu

President & Co-founder, Certify

In 2008, Bob launched Certify as his second software startup in Portland. Certify’s venture-backed team have accelerated the growth of the business to where they are considered the second largest provider in North America of expense reporting software with multinational customers including Pitney Bowes, Bristol Myers-Squibb, Subway Sandwiches, and Virgin Galactic. Certify has gained the attention of many major news publications for its innovative technology, including its recent release of auto-generated expense reporting with Certify ReportExecutive, featured in the Wall Street Journal (September, 2013), New York Times (October, 2013), and CNNMoney (December, 2013).