CMS Implements Final Rule Changes for Open Payments

Since Open Payments implementation in February 2013, the Centers for Medicare & Medicaid Services (CMS) has encouraged and received feedback from the public regarding certain aspects of the reporting requirements for the final rule and program development. Based on this feedback, the four revisions listed below have been published as a final rule in the Federal Register as part of the 2015 Medicare Physician Fee Schedule. These revisions are effective as of today, October 31, 2014, and will be implemented for the 2016 program year, with reporting to CMS in 2017.

Final Rule Revisions:

• Deletion of the definition of “covered device.” 
• Deletion of the Continuing Education Exclusion in its entirety. 
• Required reporting of the marketed name and therapeutic area or product category of the related covered drugs, devices, biologicals, or medical supplies, unless the payment or other transfer of value is not related to a particular covered or non-covered drug, device, biological or medical supply. 
• Required reporting by applicable manufacturers of stocks, stock options, or any other ownership interest as distinct categories. 

Reminder: Based on public comments, specific changes to 42 C.F.R. Part 403, subpart I, Transparency Reports and Reporting of Physician Ownership or Investment Interests, will be implemented for the 2016 program year, with reporting to CMS in 2017.

To learn more about the final rule changes and to understand how you may be impacted, review the Law and Policy page on the Open Payments website at cms.gov/openpayments. The official CMS fact sheet for the Medicare Physician Fee Schedule can be found at http://www.cms.gov/Newsroom/MediaReleaseDatabase/Fact-sheets/2014-Fact-sheets.html. The final rule can be viewed at https://www.federalregister.gov/public-inspection.