Medical device giant Medtronic teams up with Pew Charitable Trusts to urge the Centers for Medicare & Medicaid Services on Sunshine laws.
MASSDEVICE ON CALL — Medical device maker Medtronic (NYSE:MDT) joined forces with the Pew Charitable Trusts to push the Medicare regulators to quickly adopt new transparency laws governing industry relationship with healthcare providers.
The new sunshine laws were put in place in the Affordable Care Act and would require medical device makers and other healthcare manufacturers to report financial ties to physicians and hospitals.
Although the rules have broad support from the industry and other groups, delays have sent back implementation by nearly a year, Reuters reported.
"Many companies have already invested significant resources in preparing to comply with the sunshine provision," according to a letter co-signed by spokespeople from Medtronic and Pew and sent to Center for Medicare & Medicaid acting administrator Marilyn Tavenner. "We request that final regulations be released no later than December of this year."
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