Search Sunshine Act Data on CMS.gov
The Physician Payments Sunshine Act created the Open Payments Program, administered by the Centers for Medicare & Medicaid Services (CMS). The program is designed to create greater transparency around the financial relationships of manufacturers, physicians, and teaching hospitals.
The Sunshine Act tracks payments to physicians and teaches hospitals to enable proper functionality within their system.Executives at life science companies have known for some time that the final rule implementing the Physician Payment Sunshine Act (“Sunshine Act”) would have a significant impact on their operations. Companies must track payments to prepare their processes and systems for compliance.
COLLECTING THE RIGHT/NECESSARY DATA FOR THE SUNSHINE ACT
Four Major Key Areas Identified and Should Be Included
Empowering decision makers
Making smarter trade offs
Cleaning up your data
Automating with a human touch
Companies need to have a thorough understanding of these requirements as stated in the final rule in order to meet the deadline, identifying, and assessing gaps in their infrastructure and processes; creating a plan to achieve their tracking and reporting responsibilities; and managing change as they go through the process of collecting, validating, and reporting spend data.