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Affordable Care Act provision reveals drug companies' payments to doctors starting Aug. 1

The public will be able to access information about any payments greater than $10

Everyone has a price. But soon, doctors’ prices will become public knowledge, as on Aug. 1, a provision of the Affordable Care Act goes into effect that requires pharmaceutical and medical device companies to report any financial transactions with doctors or teaching hospitals.

Pharmaceutical companies are known for showering doctors with free meals and other goodies to promote their companies and their drugs, which has been shown to have an influence on which drugs doctors prescribe.

Some states already require pharmaceutical and medical device companies to make these kinds of disclosures, but the Physician Payments Sunshine Act, part of the Affordable Care Act, makes it federal policy. Any payment above $10 will have to be reported, whether it be travel expenses for a conference, gifts, research funding or anything in between, and any lay person will be able to find that information in an online database and accord any reasonable shame to pharmaceutical companies relying on bribes.

Read more at Popular Science and the Stanford School of Medicine.

For more InsideCounsel coverage of the Affordable Care Act, see below:

Appeals court upholds Obamacare employer mandate

Labor: Collective bargaining and the Affordable Care Act

10th Circuit: For-profit corporations have religious rights

Complaints seek maternity coverage for women on parents’ health insurance

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