Boston Scientific Corporation · NYSE:BSX
Boston Scientific — Investor Presentation (September 2014)
9 slides from Boston Scientific's investor presentation, September 2014
Slide 1: Physician-Industry Transparency: The U.S. Physician Payment Sunshine Act
Physician-Industry Transparency: The U.S. Physician Payment Sunshine Act 1
Slide 2: Agenda
Agenda • Sunshine Act/Open Payments Overview • Reporting Requirements • Dates and Requirements • CMS Data Review Process • How Can Physicians Prepare 2
Slide 3: Sunshine Act/Open Payments Overview
Sunshine Act/Open Payments Overview • The U.S. Physician Payment Sunshine Act/Open Payments is a federal law that requires all pharmaceutical, biologics and medical device manufacturers to disclose payments and transfers of value provided to U.S. physicians and teaching hospitals • The Sunshine Act:
Slide 4: Reporting Requirements
Reporting Requirements • All payments or transfers of value over $10 Types of payments or items of • Any payments made to another entity “at the value that must be reported request of” or “on behalf of” a physician or include: teaching hospital ► Consulting Payments and Honoraria • If, within a cale
Slide 5: Reporting Requirements (cont'd)
Reporting Requirements (cont’d) • Name of recipient HCP, contact information, specialty INCLUDED • HCP’s National Provider Identifier • State License Number of HCP • Date of the payment or transfer of the item of value • Dollar value • Product associated with the interaction • Description of the typ
Slide 6: Dates and Requirements
Dates and Requirements 2013 AUG 2014 MAR JUNE JULY AUG SEP SEP 30 2015 Aug. 1, 2013: March 31, 2014: June 2014: July 14 – Sept. 25, Sept. 30, 2014: March 31, 2015: Pharmaceutical, Pharmaceutical, Pharmaceutical, 2014: The statute requires • Manufacturers biologics and medical biologics and biologics
Slide 7: CMS Data Review Process
CMS Data Review Process CMS informed U.S. physicians and teaching hospitals who registered with the agency that their data was ready, beginning a 45-day review window. July 14 – September 10, 2014 (Original deadline was August 27, but deadline was extended to adjust for system downtime) Physicians a
Slide 8: How Can Physicians Prepare?
How Can Physicians Prepare? Physicians can prepare by: • Reviewing their hospital/medical facility policies • Understanding the reason for any payments or transfers of value • Proactively reviewing the data disclosed under their names • Being mindful of responding to media requests 8
Slide 9: In Closing
In Closing We value and look forward to continuing our essential collaboration with physicians, hospitals and other health care providers, which allows us to deliver innovative, less-invasive medical devices and procedures for the benefit of patients. We are committed to acting with integrity in all
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