By: Gokul Menon  Oct. 21, 2020
Keeping a regular track of money spent on entertainment, lodging, or travel expenses for compliance with the Sunshine Act can be quite a hassle. Dexur App Suite’s Sunshine Act Reporting Management feature is tailor-made to ease this burden by making reporting and organizing of these expenses uncomplicated.
The application allows life sciences organizations to keep track of the nature of payment, dates on which the payments were made, and the form of the payment. It is not limited to these features. Dexur custom designs the Sunshine Act Reporting Management application to suit the needs of its clientele. This feature that provides user-friendly tools to report payments and value transfers is one of the many apps in the Dexur app suite.
Here’s all the information you need to know about the Sunshine Act.
What is the Sunshine Act?
Section 6002 of the Affordable Care Act (ACA)-2010 is more popularly known as the Physician Payments Sunshine Act (PPSA). It is primarily a “disclosure program” that aims at improving transparency and accountability. This act makes it mandatory for manufacturers and GPOs (Group Purchasing Organization) to annually report certain payments and transfers of value given to teaching hospitals, physicians, any ownership, or physicians interested in investment.
Who has to report this data?
Manufacturers and GPOs (Group Purchasing Organizations) are required to report the above mentioned data under the Sunshine Act. Dexur delves into the finer details of factors that make an organization eligible for reporting this information.
Which Manufacturers does this apply to?
For starters, the manufacturer has to be located and/or has to be conducting activities in the United States.
CMS has divided this into two types of manufacturers.
Penalties for Non-Compliance:
The Federal government stresses the importance of accuracy and transparency through this act. Companies can be audited at any point of time by the CMS. This is done to “ensure the submission of accurate, timely, and complete reports on ownership and investment help by physician and their immediate family members at any time.” The CMS also states that penalties of up to $1,000,000 may be levied on organizations that fail to comply with the requirements of the Sunshine Act”.
Making an Open Payment & Submitting Data:
The organization needs to be registered with the EIDM (Enterprise Identity Management System) to submit data. All applicable organizations should submit the data yearly, before the 31st of March.
Post-registration, authorized officials from applicable organizations submit the final payment and/or transfer of value data. This data will then be matched with the physician/hospital profiles.
Highlights of Dexur’s Sunshine Reporting App:
Ready for Audits:
All required information under the Open Payments Mandate in one place.
Time and Date stamp:
Assists in organizing and filtering payments according to date and time.
Ease in adding payments:
The sleek interface makes it easy to add information including but not limited to the form and nature of payment. A similar ease is found in tracking financial data.
Find and sort physicians using the 10-digit National Provider Identifier (NPI) Standard.
Get your application customized to suit your organization’s needs.
Alongside this, Dexur also makes it easier for organizations to track and manage expenses. The app suite comprises of other applications that make life easier for organizations. These applications include CRM, Sales Reporting, and Medical Information Request (MIRF).