Financial Transparency: ‘Sunshine Law’ Overview
Beginning Aug. 1, manufacturers and certain other entities must begin collecting information about their payments to and other financial relationships with physicians and teaching hospitals. CMS will begin an annual, public release of the data in September 2014, a program known as Open Payments. The program was stipulated by a physician “sunshine law” passed as part of the health care reform law. The aim of Open Payments is to ensure greater transparency about health care providers’ financial interests.
• CMS Open Payments site
• AMA guide to the law
• AdvaMed guide
• PhRMA site: Healthy Dialogues
Physicians and hospitals have no data-collection responsibility. However, providers will be able to review and, as needed, correct their information before its public release. To help members understand the law’s implications for them, the Academy has prepared the following overview