Physician Payment Sunshine Act: How It Keeps the Transparency of Financial Records
The Physician Payment Sunshine Act , also known as the Open Payments Program, is a federal law enacted in 2010 that requires pharmaceutical and medical device manufacturers to disclose their financial relationships with healthcare providers. The purpose of the act is to increase transparency in healthcare by making information about payments or other transfers of value between industry and physicians publicly available. Transparency of Financial Arrangements Among Medical Community This level of transparency allows patients and other interested parties to make informed decisions when selecting healthcare providers. It also helps prevent conflicts of interest between doctors and drug companies which can lead to biased prescribing practices. By shining a light on previously hidden financial arrangements between doctors and industry sponsors, patients are now able to see exactly where their doctor's loyalties lie. Open Payment Data Reduces the Illegitimate Transactions O...