On Monday, June 30, CMS will publish new Open Payments data detailing 2014 financial transactions between biopharmaceutical research companies and physicians.
Discussions about the Open Payments data need to consider the following four points:
- Biopharmaceutical research companies and physicians collaborate in a variety of ways to improve patient care. Companies work together with physicians to develop new treatments for patients through clinical trials and collaborate on medical education, knowledge sharing and advice on clinical needs, community trends or patient tolerance of new and current treatments.
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- Context is essential to understanding the Open Payments data. While the Open Payments database is a useful tool for health care transparency and to help patients to take an active role in their health care, numbers don’t tell the whole story. The database won’t fully explain the role that collaboration plays in the development of new medical treatments and patient care and all stakeholders should be educated about the nature and purpose of those relationships and how they improve public health
- Information and education provided by biopharmaceutical companies helps to alleviate information overload for physicians. An abstract in Journal of the Medical Library Association found that a primary care physician would have to read 341 relevant medical journals and 7,287 monthly articles, equaling more than 627 reading hours per month, to stay current on all relevant medical literature. Information and education provided by pharmaceutical companies, such as copies of journal reprints and funding for continuing medical education, help ensure that physicians stay abreast of information on cutting edge treatments as well as safety issues.
- Research and clinical trials are critical to progress in medical research. Physicians, universities, hospitals and biopharmaceutical research companies collaborate to design clinical trials to test new medicines that target all sorts of diseases. Clinical trials are also a way for patients to gain access to investigational medicines before they are approved by the FDA. By continuing to work together, these individuals make new and innovative treatments a reality for patients worldwide.
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Jon Tripp is the senior director of Communications & Public Affairs for PhRMA. He has over 17 years experience leading online initiatives, media relations and public affairs for non-profit organizations, the federal government and political candidates.
