February 19, 2013
On February 1, 2013, in its efforts to create greater transparency in health care markets, the Centers for Medicare and Medicaid Services (CMS) announced the final rule called the “National Physician Payment Transparency Program: Open Payments.” This rule will help increase public awareness regarding payments or other transfers of value from certain manufacturers of drugs, devices, biological and medical supplies covered by Medicare, Medicaid, and the Children’s Health Insurance Program (CHIP), defined as applicable manufacturers, to physicians and teaching hospitals, which are defined as covered recipients. The “Sunshine” rule also requires manufacturers and group purchasing organizations (GPOs) to disclose to CMS physician ownership or investment interests.
Beginning on August 1, 2013, CMS will post all data collection to a public website. The data will need to be reported for August through December 2013 to CMS by March 31, 2014 and the data will be released by September 30, 2014.
For more information, please find the final rule attached.