CMS Open Payments Analysis
What is CMS Open Payments Analysis?
The Patient Protection and Affordable Care (PPAC) Act of 2010, known as the “Sunshine Law,” requires that life sciences companies disclose payments made to healthcare professionals and organizations. The Center for Medicare & Medicaid Services (CMS) aggregates and publishes this data in a program called “Open Payments.” The information found in the CMS Open Payments database is detailed and categorizes what each payment is for (ie, speaking, research, consulting, etc.) and what drug or medical device each payment is related to.
What can be done with CMS Open Payments data?
- Identify the most highly paid physicians in certain activities (ie, speaking, consulting, and research engagements) for a target list of drugs
- Analyze your competition and see how they compare in their marketing budgets, as well as where and on whom they spend their money
- Gain insights into the work of your KOLs, find who else is funding them, and how you compare
- Find new partners for your business plan, and analyze current partners by identifying companies making complementary products who are spending in your target areas
- Discover trends in your area of interest, identify who are the rising stars, and which types of work are becoming more valuable, and for which products
To fully optimize this amazing resource, sophisticated analytics are critical. This is where Snowfish excels. CMS provides a straightforward public interface to the data on their Open Payments website. However, Open Payments, like other “big data” datasets, is large, complex and messy. With our long substantial experience in healthcare data analytics and proprietary matching software, we can ensure the output is accurate and relevant. Snowfish also provides automatic refreshes to the analyses whenever new data is released.