How does CMS Open Payments Data Enhance Transparency in Healthcare?

The principle on which CMS Open Payments data collection would be based is the enhancement of transparency in financial relationships between service providers in healthcare and the producing and supplying entities of treatments, drugs, or medical devices. For the providers, CMS Open Payments Data becomes a professional tool that promotes accountability towards some form of potential conflict of interest that may influence medical decisions. This data will help patients, policymakers, and other healthcare stakeholders know whether clinical practices are based on evidence and patient well-being instead of being driven by financial incentives. 

This is one aspect that is essential for healthcare organizations to remain transparent, thus avoiding further penalties. Venops helps the healthcare provider manage and interpret CMS Open Payments Data to ensure compliance and instill confidence in the healthcare industry.