The Federal Report on Financial Relationships Between Pharma Industry and Prescribing Physicians

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The new Social Security Act, an Obamacare-inspired, Open Payments report came out September 30th. As part of the new healthcare reform policy, this federal report requires pharmaceutical and medical device companies to annually share documentation of direct payments they provided to entities such as medical practices and teaching hospitals. The goal of Open Payments is to monitor how much doctors are receiving in the form of cash payments or incentives (e.g., free meals, travel junkets, and entertainment) related to the promotion of specific drugs and medical devices marketed in the USA. Details from 2013 reveal that hundreds of pharmaceutical companies (as well as medical device companies) gave a combined $3.5 billion to doctors nationwide.