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Wake up sunshine. Are you reporting all of your lunches?

On March 22, 2010, the Physician Payment Sunshine Provision legislation passed. The Act states that any drug, device, or medical supply manufacturer operating in the United States must report any payment or benefit given to a physician. Payments under $10 are excluded, but only if the total spent on that HCP is less than $100 annually. Companies will likely need to begin recording this information in early 2013.

MTC has created numerous web-based reporting systems to help companies maintain compliance with Sunshine Act reporting requirements.

The systems manage the entire reporting and payment process from pharmaceutical/medical device manufacturers to physicians and other medical providers. With these systems, new contracts are requested by account representatives, managers approve or reject, and key parties are notified.

Immediately after each speaking engagement/preceptorship/proctorship, physicians request payment and expense reimbursement via a secure website. Required parties are notified of their need to approve or reject, and the system tracks the payment request each step of the way - from submission to approval to accounts payable to conclusion. At any point, parties can view the request status, thereby reducing the time needed to track down late or missed payments. No more sending invoices, manually entering data into Excel, searching for paper contracts, getting approval signatures from each manager, or manually requesting a check from accounts payable.

As importantly, residents of states requiring reporting can visit a public website and search by provider name for payments made to them. From initiation to conclusion, it took MTC less than six months to design, develop and install the system. The web-database ensures regulatory requirements are met, saves time and effort via workflow & reporting, and eliminates redundant data entry.

Click here for a case-study for a large medical device manufacturer.

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