AMA: Doctors need more protection in financial reporting

April 25, 2012

The proposed rule for publicly reporting physicians' financial interactions with drug and medical device manufacturers does not offer you enough protection against misleading or inaccurate information according to the American Medical Association.

The proposed rule for publicly reporting physicians' financial interactions with drug and medical device manufacturers does not offer you enough protection against misleading or inaccurate information, according to the American Medical Association (AMA).

The rule, which takes effect later this year, requires manufacturers participating in federal healthcare programs to track any payments and gifts of more than $10 to physicians and teaching hospitals. Manufacturers must submit annual reports of aggregate payments that exceed $100. The information will be made available to the public on a searchable Web site beginning next year.

The AMA is asking for several changes to the rule, including standardizing the reporting process that would give you the chance to correct false reports, restricting reporting of payments to third parties to those made at your request or designated on your behalf, and excluding certified continuing medical education.