Affordable Care Act: The Rules, Their Impact, and How to Sell in This New Environment
21 January 2014
Affordable Care Act Physician Payment Sunshine Act Final Rule: The Rules, Their Impact, and How to Sell in This New Environment
Obamacare is being implemented in stages and, as of August 2013, another piece of the legislation – the Physician Payment Sunshine Act Final Rule – has gone into effect. This rule is meant to eradicate any appearance of a conflict of interest for the physician in terms of prescribing medication or medical devices, but it ends up greatly affecting how anyone who sells to the medical industry can interact with physicians.
The Affordable Care Act doesn’t so much focus on prohibiting ways that sales people build relationships with physicians but, instead, creates a reporting burden on the part of the physicians that will make them shy away from many types of interactions with vendors.
Because of the Physician Payment Sunshine Act Final Rule, physicians are now required to publicly report all of the interactions and exchanges with pharmaceutical and medical device reps in the following categories including the receipt of gifts, food and entertainment.
Although the reporting requirements are targeted at the pharmaceutical industry and medical device manufacturers, in reality, even if you are a financial advisor, a home health care agency looking for referrals, or someone selling office supplies, some very basic sales tools are going to be greeted with caution by physicians and their gatekeepers. At Buzzfile, we’ve create an eBook that not only explains these new rules but also offers some commonsense, how-to advice on how to sell in this new environment. This eBook is geared toward small-to-medium businesses and provides both ideas and the tools and resources needed to implement those ideas.