CMS Open Payments data for 2014 is now available and includes information on 11.4 million financial transactions attributed to over 600,000 physicians and more than 1100 teaching hospitals, totaling $6.49 billion.
Data on transfer of value by drug and medical device makers to healthcare providers from 2014 are now available on CMS' Open Payments. The data includes information on 11.4 million financial transactions attributed to over 600,000 physicians and more than 1100 teaching hospitals, totaling $6.49 billion.
CMS has validated 98.8% of all records submitted in the Open Payments system for 2013 and 2014. Records that could not be verified were rejected and not processed.
“Consumer access to information is a key component of delivery system reform and making the healthcare system perform better," Acting CMS Administrator Andy Slavitt, said in a statement. "In year 2, Open Payments is now a highly searchable resource to provide transparency to over 1-and-a-half years’ worth of financial transactions between drug and device companies and physicians and teaching hospitals. This is part of our larger effort to open up the healthcare system to consumers by providing more information to help in their decision making.”
While the American Medical Association (AMA) applauds CMS' efforts of transparency, it experssed concern that the majority of information released through Open Payments was not independently validated by physicians. In addition, the Association pointed out that the process for physicians to review their data and seek to correct any inaccuracies is complicated and cumbersome.