CMS: Doctors, hospitals received $8.4B in payments from drug companies last year

CMS' released its latest Open Payments database last week. (Getty/Utah778)

Doctors and teaching hospitals received $8.4 billion in payments from drug companies in 2017, according to the latest Open Payments data released by the Centers for Medicare & Medicaid Services.

Under the Sunshine Act, CMS is required to publish financial interactions between manufacturers of drugs, devices, biologicals and medical supplies and individual physicians and teaching hospitals.

The 2017 payments included nearly $4.7 billion in research related payments, $2.82 billion in non-research-related payments and more than $927 million representing ownership or investment interests held by physicians or their immediate family members, according to CMS data.

Conference

2019 Drug Pricing and Reimbursement Stakeholder Summit

Given federal and state pricing requirements arising, press releases from industry leading pharma companies, and the new Drug Transparency Act, it is important to stay ahead of news headlines and anticipated requirements in order to hit company profit targets, maintain value to patients and promote strong, multi-beneficial relationships with manufacturers, providers, payers, and all other stakeholders within the pricing landscape. This conference will provide a platform to encourage a dialogue among such stakeholders in the pricing and reimbursement space so that they can receive a current state of the union regarding regulatory changes while providing actionable insights in anticipation of the future.

RELATED: No free lunch? Study finds meals from pharma linked to uptick in opioid prescriptions

According to the latest data, 628,000 physicians received $79.1 million in research-related payments and nearly $2.1 billion in general payments in 2017.

More than 1,100 teaching hospitals received payments from drug companies including $1 billion in research payments and $751.2 million in non-research payments. 

Of course, the release of the data has raised the ire of physicians groups who have questioned the quality of the data released as well as lack of context around what the payments mean. Indeed, 258 of the research-related payments and 758 of the non-research-related payments have been disputed.

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