ADVAMED PRAISES OIG FOR GUIDANCE ON PHYSICIAN INVESTMENTS IN DEVICE FIRMS

AdvaMed President and CEO Stephen Ubl expressed his appreciation Oct. 17 the "swift response" by HHS' Office of Inspector General (OIG) to a recent AdvaMed request for guidance from the agency on certain physician investment interests in device firms and distributors.

It its Oct. 6 response to AdvaMed's Sept. 6 letter, OIG confirmed that current agency guidance would apply to physician investments in device manufacturing and distribution entities as well as group purchasing agents, AdvaMed said.

"The OIG also clarified that the amount of revenues generated by a physician investor, whether directly or indirectly, is 'a relevant factor' when it comes to scrutinizing a joint venture under the anti-kickback statute," AdvaMed said.