Open Payments Posts 2014 Financial Data
On June 30, CMS published 2014 Open Payments data about transfers of value by drug and medical device makers to health care providers. The data includes information about 11.4 million financial transactions, attributed to over 600,000 physicians and more than 1,100 teaching hospitals, totaling $6.49 billion. For all 2014 and 2013 data, CMS was able to validate that 98.8% of all records submitted contained accurate identifying information about the associated covered recipient. Records that could not be verified were rejected. CMS will update the Open Payments data at least annually to include updates to data disputes and other corrections. The financial data was submitted by applicable drug and device manufacturers and applicable Group Purchasing Organizations. Prior to publication of data, physicians and teaching hospitals are given the opportunity to review and dispute data submitted about them. The CMS press release includes more details.