Under federal law, drug and medical device manufactures are required to report their financial interactions with licensed physicians – including consulting fees, travel reimbursements, research grants and other gifts. Any payments, ownership interests and other “transfers of value” are reported to the Centers for. Medicare and Medicaid Services (CMS) for publication in the public Open Payments database.
Open Payments data includes payments and other transfers of value, along with ownership and investment interests held by physicians or their immediate family members I the reporting entities. Payments are reported across three major reporting categories:General Payments: Payments or other transfers of value made that are not in connection with a research agreement or research protocol.
Research Payments: Payments or other transfers of value made in connection with a formal research agreement or research protocolPhysician Ownership: Information about the ownership or investment interests that physicians or their immediate family members have in the reporting entities.