A U.S. federal law enacted to increase transparency in the healthcare industry by requiring pharmaceutical and medical device manufacturers to disclose certain payments and transfers of value made to physicians and teaching hospitals.

Transparency Reporting:

The process mandated by the Sunshine Act in which pharmaceutical and medical device companies must report financial relationships with physicians and teaching hospitals, making the information publicly accessible.

Transfer of Value:

Payments, gifts, honoraria, or other forms of compensation provided by pharmaceutical and medical device manufacturers to physicians or teaching hospitals, subject to disclosure under the Sunshine Act.

Covered Recipients:

Individuals or entities, such as physicians and teaching hospitals, who are eligible to receive payments or transfers of value that must be reported under the Sunshine Act.

Aggregate Spend:

The total monetary value of payments and transfers of value made by a pharmaceutical or medical device company to covered recipients within a specified reporting period.

Sunshine Act Reporting Threshold:

The minimum amount of money or value of transfers that triggers the requirement for reporting under the Sunshine Act. Transactions below this threshold are generally not subject to disclosure.

Open Payments Program:

The initiative implemented by the Centers for Medicare & Medicaid Services (CMS) to collect and publish data on payments and transfers of value made by pharmaceutical and medical device manufacturers to healthcare providers.

Physician Payment Data:

Information disclosed under the Sunshine Act, including details on payments, gifts, meals, travel expenses, and other forms of compensation provided to physicians by pharmaceutical and medical device companies.

Teaching Hospital Payment Data:

Information disclosed under the Sunshine Act regarding payments made to teaching hospitals by pharmaceutical and medical device manufacturers, aimed at promoting transparency in financial relationships.

Sunshine Act Database:

A publicly accessible database maintained by CMS that contains information on payments and transfers of value made by pharmaceutical and medical device companies to covered recipients, allowing users to search and analyze the data.

Third-Party Intermediary:

An entity or organization that acts as an intermediary between a pharmaceutical or medical device manufacturer and a covered recipient, facilitating payments or transfers of value.