Glossary Term
Anti-Kick Back Statute
Definition
The Anti-Kickback Statute (AKS) is a U.S. federal law that prohibits the exchange or offering of remuneration—whether monetary or in-kind—in return for referrals or business related to federally funded healthcare programs, such as Medicare or Medicaid. This statute applies to individuals and entities in the healthcare and MedTech industries, ensuring that financial incentives do not improperly influence medical decision-making.
Relevance to the MedTech Industry
The Anti-Kickback Statute protects patients and healthcare programs by preventing unethical practices, such as offering financial incentives to physicians or organizations to promote specific medical devices. It fosters transparency, ethical marketing, and fair competition in the MedTech industry, ensuring that decisions are made based on clinical need and efficacy rather than financial gain.
Additional Information & Related Terms
Stark Law A related regulation that restricts physician self-referrals for certain services paid by Medicare or Medicaid.
Fair Market Value (FMV) Ensures compensation arrangements with healthcare providers comply with AKS.
Transparency Reporting Reporting financial relationships under regulations like the Sunshine Act.
Regulatory Compliance Ensures adherence to legal frameworks, including AKS, across all business activities.