News Week in Review, November 25, 2013

The Sunshine Act’s payment reporting is still a worry for physicians, the FTC monitors its pay-for-delay deals closely and the U.K. Bribery Act fails to boost confidence of small and medium enterprises – all in time for Turkey Day.

Gobble, Gobble everyone…Thanksgiving is this Thursday! (and for our Canadian friends, we hope you enjoyed your Thanksgiving back in October!) We at the News are excited and busy making those last minute trips to the grocery store to prepare for the feast with family and friends. Let’s face it though, sometimes all the togetherness can be a little “stressful,” and there’s no better way to deal with the stress than comedy. Laughter is the best medicine right? So, while we serve up the week’s main course, the News in Review, we’ll add a side of corny jokes to the plate for your Thanksgiving festivities – we’ve put the punch lines at the end of each paragraph, just to build the suspense.

Why did the turkey cross the road?

The Sunshine Act payment reporting continues to be a concern for physicians, particularly, the accuracy of the reported data and the ability to address inaccuracies within the 45 day dispute timeframe. How those payments appear to the public also weighs heavily on physicians’ minds and could lead to changes in how they interact with the industry.  According to HealthLeaders Media author, Greg Freeman, concern over having their name associated with industry payments may cause physicians to limit their consulting or speaking engagements.

It was the chicken’s day off of course.

If April showers bring May flowers, what do May flowers bring?

Targeting pay-for-delay deals will continue to be a top priority for the Federal Trade Commission, according to FTC Competition Bureau Chairwoman Deborah Feinstein. The agency has two pay-for-delay cases currently in litigation and Ms. Feinstein says it will continue to monitor filings submitted under the Medicare Prescription Drug Improvement and Modernization Act.

Pilgrims (okay, we admit it that “May flowers” pun is best delivered through the spoken word and falls apart when written).

Why do turkeys gobble?

The Drug Quality and Security Act received its senatorial stamp of approval last week and has been sent to the President for his signature. The bill was created to clarify the law around drug compounding and compounding pharmacies. It includes a drug track and trace requirement to address the issue of counterfeit drugs entering the marketplace. Beginning January 1, 2015, manufacturers and distributors that transfer ownership of products will have to provide a document showing the ownership trail of the product.

Because they never learned table manners.

What kind of music did the pilgrims listen to?

More than half of accountants surveyed by the Association of Chartered Certified Accountants (ACCA) agree with the statement that the U.K. Bribery Act has failed to increase the confidence of small and medium enterprises. Only 17% percent of the respondents say the U.K. Bribery Act has given confidence to small and medium enterprises to resolve corrupt practices. While 48% say small and medium enterprises are likely to face corruption risks overseas, only 43% say anti-bribery is something they consider when looking at overseas business opportunities.

Plymouth Rock.

What is the best thing to put into a pie?

Louisiana’s Attorney General announced an $88 million settlement with 25 pharmaceutical companies over allegations of overcharged state Medicaid system. The settlement brings a 2010 case involving 109 manufacturers to a close. Total recoveries in the case were $238 million. The companies were accused of inflating Average Wholesale Price, violating the Louisiana Unfair Trade Practices and Consumer Protection Act and violating the state’s Medical Assistance Programs Integrity Law.

Your teeth!

Well that brings us to the end of this week’s News Week in Review and thankfully, the end of our lame jokes. Happy Thanksgiving everyone! As always, we’re grateful that you’ve taken a few minutes of your time to read our weekly review.

See you right back here next week!

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