Physician Payment Sunshine Act: CMS Releases Fact Sheets
The Centers for Medicare & Medicaid Services (CMS) updated the Open Payments website to include fact sheets for applicable manufacturers, applicable group purchasing organizations (GPOs), teaching hospitals and physicians who will be affected by the Open Payments, commonly known as “Sunshine,” final rule.
The Physician Payments Sunshine Provision of the Affordable Care Act (Section 6002) requires applicable manufacturers of drugs, devices, biologicals, or medical supplies covered by Medicare, Medicaid, or CHIP to report annually certain payments or transfers of value provided to physicians or teaching hospitals (“covered recipients”). In addition, applicable manufacturers and applicable group purchasing organizations (GPOs) are required to report annually certain physician ownership and investment interests.
The statute requires that the payment and ownership information submitted to be released on a public website. Covered recipients will have the opportunity to review the submitted information prior to it being published on the website. In addition, applicable manufacturers and GPOs may be subject to civil monetary penalties for failures to report the required information.
For more information click here for the Official Website for National Physician Payment Transparency Program: OPEN PAYMENTS (Section 6002 of the Affordable Care Act):
The fact sheets provide no new analysis or interpretation from CMS; they are simply user-friendly sheets for the public and affected stakeholders. Here is a link to our Quick Reference Guide for the Sunshine Act, and our other stories: