The Obama administration finally wants to require that manufacturers of medical devices, drugs and medical supplies disclose all of their payments to both doctors and teaching hospitals, according to an article by The New York Times.
The information gathered would then be posted on a government website, which would be available for patients to see.
The money that certain doctors and hospitals receive can sometimes be considered for worthy things, such as research and consulting. However, a lot of cash seems to be going around for other purposes. Doctors’ travel expenses, meals and entertainment are some things that are being paid for by those manufacturers.
According to the article, some prominent doctors and researchers receive up to millions of dollars a year in exchange for giving lectures or providing advice on behalf of the companies.
After Feb. 17, the new rules on manufacturers disclosing information will be revised and put into final form.
If manufacturers fail to report payments, they can be fined up to $150,000 a year. If they knowingly fail to report, they can expect to be fined up to $1 million a year.