Revised bill would mandate disclosure of payments to physicians

01/22/2009 | Yahoo!

Sens. Charles Grassley, R-Iowa, and Herb Kohl, D-Wis., introduced a new version of a bill that would require drugmakers and device firms to post details online about their financial relationships with doctors. Under the Physician Payment Sunshine Act, companies would face fines of up to $1 million if they fail to disclose payments and gifts costing more than $100 a year. Device firms believe that disclosures should offer "meaningful information ... in an appropriate context," said Stephen Ubl, president and CEO of AdvaMed.

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