Are You Prepared for the March 31st CMS Open Payments Deadline?
What are the Open Payments Requirements?
“Section 6002 of the Affordable Care Act requires the establishment of a transparency program, now known as Open payments. The program increases public awareness of financial relationships between drug and device manufacturers and certain health care providers.” (CMS.gov)
Open Payments Requires:
Applicable manufacturers of covered drugs, devices, biologicals, and medical supplies must report payments or other transfers of value they make to physicians and teaching hospitals to CMS.
Applicable manufacturers and applicable group purchasing organizations (GPOs) to report to CMS certain ownership or investment interests held by physicians or their immediate family members.
Applicable GPOs to report to CMS payments or other transfers of value made to physician owners or investors if they held ownership or an investment interest at any point during the reporting year.
“I’ve just finished doing the upload. I uploaded a total of 9478 records and I’m super excited to report that all the extra effort and hard work paid off. I only have about 113 errors to correct across all companies. A huge THANK YOU to both of you for all the assistance throughout the year and for getting me to the finish line successfully!”
– Teri – Large Medical Device Company
“As always, and I cannot stop telling you how great your customer service and all of your assistance and more importantly patience with me and this CMS process. You make this process as seamless and effortless, and painless as possible. Thank you!”
– Nakia – Middle Market Medical Device Company
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