Sunshine Act Compliance
ACCURATELY TRACKING EXPENSES WITH TRAVELBANK
Is your company responsible for complying with the Sunshine Act?
The strict Physician Payments Sunshine Act (PPSA) reporting and documentation requirements in the healthcare industry are in place to ensure patients are put first and monetary gain does not cloud the judgment of physicians.
Legislation Dictates Expense Reporting
Under PPSA, drug and medical device suppliers must track specific expenses related to transfers of value or payments to doctors and hospitals in excess of $100.
These expenses must be reported to the federal government in a specific way, and are available publicly.
Ensure Accuracy and Compliance
Expense software provides an avenue for both your employees and your accounting department to ensure accuracy and compliance under the Sunshine Act.
With TravelBank’s expense management platform:
Employees can snap photos of receipts on-the-go and receipt-scanning technology fills in the expense details.
You can program PPSA-compliant billing categories directly into your expense management instance.
Expenses and billing categories sync with your general ledger for a more simple reconciliation process.
This will be a game-changer for your finance team as it will save time and money.
If your company is ready to implement an expense management solution that provides a user-friendly experience for employees while streamlining processes for the finance team, TravelBank can help.