As of January 1, 2024, California has taken a significant step towards enhancing transparency in the healthcare sector with the implementation of a new law. This law mandates physicians in the state to provide written or electronic notice of the Open Payments database to patients during their initial office visit. Physicians are also required to display a notice in their offices and on their websites informing visitors about the Open Payments database. This move aims to foster transparency and empower patients by keeping them informed about financial relationships between healthcare providers and pharmaceutical companies.
The Open Payments database is a centralized platform that collects and publishes information about financial relationships between physicians and teaching hospitals on one side and applicable manufacturers and group purchasing organizations (GPOs) on the other. These financial relationships may include payments, gifts, or other transfers of value. The database, managed by the Centers for Medicare & Medicaid Services (CMS), is part of a broader effort to promote transparency in the healthcare industry…
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