NEW LAW REQUIRES NOTICE TO PATIENTS ABOUT OPEN PAYMENTS DATABASE
For informational purposes only, a link to the federal Centers for Medicare and Medicaid Services (CMS) Open Payments web page is provided here. The federal Physician Payments Sunshine Act requires that detailed information about payment and other payments of value worth over ten dollars ($10) from manufacturers of drugs, medical devices, and biologics to physicians and teaching hospitals be made available to the public.
The Open Payments Database is a federal tool used to search payments made by drug and device companies to physicians and teaching hospitals. It can be found here, and for more information, visit cms.gov/openpayments. Data displayed on the Open Payments Search Tool is from January 2015 through December 2021.
Effective January 1, 2023, drug and medical device manufacturers must report their financial interactions with physicians, including:
- Consulting fees
- Travel reimbursements
- Research grants
- Other gifts
Any payments, ownership interests, and other “transfers of value” are reported to the Centers for Medicare and Medicaid Services (CMS) for publication in the public Open Payments database.
You can use the Open Payments database to search payments made by drug and medical device companies to:
- Physicians
- Physician assistants
- Advanced practice nurses
- Teaching hospitals