Open Payments CMS is a federal program in the United States that is controlled by the Centers for Medicare & Medicaid Services. It is used to increase the transparency of the healthcare industry. The system requires pharmaceutical and medical device companies to report certain types of financial transactions and transfers of value made with healthcare providers and teaching hospitals. It ensures that the public is well informed about the financial relations between doctors and the healthcare industry. The primary objective of Open Payments CMS is to develop an open and transparent environment for transactions. The system allows for a record of financial transactions, which would help identify any potential conflict of interest. For further information on this program and its applications, Venops provides reliable resources to stay informed.
