1st July 2017, Princeton, New Jersey: qordata has released Open Payments Data 2016 less than 24 hours after the publication of 11.96 million financial transactions, (US $ value 8.18 billion) on the CMS Website.
With Compliance Insights, qordata’s foremost solution for pharmaceutical spend analytics, medical drug and device manufacturers leverage internal and external datasets to gain visibility and assurance into their spend data. qordata has summarized transactions attributed to over 600,000 physicians and 1,100 teaching hospitals across the United States.
The data published indicates that between 2015 and 2016:
- Research spend decreased by nearly 2%
- Total spend increased by 1.11% at $8.18 billion.
- Genentech, Inc. and Pfizer, Inc. emerged as the top manufacturers by spend, at $533.591 million and $475.055 million respectively, whereas at $222.7 million and $126.7 million, Keytruda and Afinitor were drugs that experienced the greatest spend in 2016
It also describes trends by listing the top ten teaching hospitals, physicians, and states by spend; in addition to providing a ToV (Transfer of Value) breakdown by category.
Following the promulgation of the Sunshine Open Payments Act, CMS’ Open Payments Database is in its third year of facilitating the public in understanding trends in the healthcare industry, with emphasis on manufacturers’ payments to physicians and teaching hospitals in categories such as physician meals, travel, education, honoraria, and research.
For media queries, please contact:
Mr. Zafar Ahmed,
Head of Marketing and Sales, qordata
+1 (888)-906-38282 | +1 832-220-3479
About qordata: qordata offers SaaS (Software as a Service) products to manufacturers in the medical drug and device industry. With qordata’s data-centric solutions, pharmaceutical manufacturers achieve greater compliance and transparency in their spend data; gain enhanced commercial and strategic insights and manage physician engagement better.