Regulations

Data Posted on $6.5 Billion In Payments To Doctors

By Robert Sheen | July 02, 2015

Information is now available online for 11.4 million financial transactions paid by drug and medical device suppliers to 600,000 physicians and 1,100 teaching hospitals. The payments total $6.49 billion.

The data, gathered in 2014, was published by The Centers for & Services (CMS) as its Open Payments , and can be downloaded or searched online.

The Open Payments , created by the Act, requires drug and device manufacturers to report fees, honoraria and research grants to . must also report industry-related investments they may have.

Dr. Shantanu Agrawal, CMS deputy administrator and director the agency’s Center for Integrity, said the aim the Open Payments is to provide information for people who want to view financial transactions involving doctors, hospitals, and drug and medical device makers.

The relies voluntary participation by doctors and hospitals to review the information submitted by the companies. The healthcare reviewed about % the total the reported data.

CMS said it will update the Open Payments data at least annually. It will an update to the 2014 financial data in early 2016.

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