The 7 Last Checks to Perform Before CMS Submission
Compliance promotes ethical healthcare practices and demonstrates an organization’s adherence to applicable regulatory compliance requirements, enabling life sciences companies to avoid regulatory and board scrutiny.
1- Mid-Level Practitioners: Include payment data to physician assistants, nurse practitioners, and other covered non-physician practitioners. CMS increased the list of covered recipients; therefore, staying up to date with it is crucial for compliant reporting.
2- Checks for Duplication: Double-check for and eliminate duplicate entries to ensure accurate reporting.
3- Data Inclusion Timeline: Only include data from 1st January to 31st December of the reporting year. Avoid including additional or missing information.
4- Including The Late Entries: Gather data for confirmed December 2023 transactions even if reported in January 2024.
5- Global Currency Conversion: Think globally, act locally! Convert all international transactions to USD using the appropriate exchange rate.
6- Zero Dollar Transactions: Investigate anomalies. Analyze and address negative or $0 transactions to ensure data accuracy.
7- Mass Scale Transactions: Be meticulous! Carefully categorize and report large-scale transactions to avoid misinterpretations.
By implementing these last checks, you can confidently submit your Open Payments reports, knowing you’ve played your part in fostering a transparent and accountable healthcare system.
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Business Development Manager at Gulf Specialized hospital (Muscat)
2wGood initiative