Payments to Healthcare Providers, Non-Physician Practitioners and Teaching Hospitals Under the Physician Sunshine Act & Open Payments Portal:
The Physician Payments Sunshine Act was enacted by Congress in 2010 as part of the Affordable Care Act. The Physician Payments Sunshine Act is intended to promote transparency between applicable manufacturers and healthcare providers by publishing data on the financial relationships between these parties. This is done by requiring reporting entities, which includes Philips RS North America LLC, to report payments and other transfers of value provided to healthcare providers (HCPs) including physicians, non-physician practitioners (NPPs), and teaching hospitals to the Centers for Medicare and Medicaid Services (CMS).
Our company engages HCPs to provide a wide range of valuable and bona fide services. Examples of these services include education and training, speaking services, participation on advisory boards or focus groups, and research services arrangements. These types of activities enhance patient experiences, improve health outcomes, and lower the cost of care for patients. All payments or transfers of value to these healthcare providers undergo a fair market analysis to assure they are appropriately compensated. Philips North America has a comprehensive reporting program in place to help collect, track, and report these payments and transfers of value across all Philips North America businesses including Philips RS NA LLC.
Under the Physician Payments Sunshine Act, Philips North America submits data to the Centers for Medicare and Medicaid Services (CMS) Open Payments program as an applicable manufacturer. Open Payments is the federally run transparency program that collects information about these financial relationships and makes it available to the public annually. Through the CMS Open Payments website, you can view information about Philips RS NA LLC’s financial relationships with healthcare providers, as well as providers’ relationships with other companies.
How to View Payments
1. Open Payments Search Tool
2. To view Philips Electronics North America’s disclosures of payments and transfers of value to US physicians, NPPs, and teaching hospitals related to payments and transfers of value:
a. CMS Open Payments Data Search Tool website (https://openpaymentsdata.cms.gov/)
b. Select the “Company” radio button
c. Enter the company name “Philips Electronics North America Corporation” and click “Search the Data”
d. Select “Philips Electronics North America Corporation” by clicking on the company name in the search results
The CMS search tool will then display a summary of Philips Electronics North America overall payment information. You also have the ability to search and view more detailed payment information for individual providers and teaching hospitals.