Industry payments to physicians, hospitals drop 4.7% in 2017: 5 things to know

Laura Dyrda -   Print  |

CMS released 2017 Open Payments Data June 29, showing the volume of physicians receiving payments and amount paid out dropped from 2016, according to Policy & Medicine.


Here are five things to know:

1. In 2017, the industry made $8.4 billion in payments to clinicians, a 4.7 percent decrease from 2016. The number of physicians receiving payments dropped from 638,000 in 2016 to 628,000 in 2017. This is the first time the dollar value has dropped since Open Payments launched in 2013.

2. Teaching hospitals received $1.79 billion in 2017, including $1.04 billion in research payments and $751.21 million in general payments.

3. Orthopedic surgeons received the highest payment value, at $258 million. The next highest payments went to:

• Neurology: $93 million
• Endocrinology, diabetes: $82 million
• Neurological surgery: $78 million
• Cardiovascular surgery: $77 million
• Internal medicine: $73 million

4. Around 37 percent of the general payments made were for royalties or licensing payments, totaling $1 billion. Consulting fees accounted for $429 million, or 15.21 percent of the total general payments. Compensation for other services beyond consulting accounted for 20.74 percent of the payments, totaling $585 million.

5. The payments showed honorariums dropped 11 percent and grants were down 20 percent in 2017.

More articles on medical devices:
How much 7 orthopedic and spine device company CFOs made in 2017
Stryker gets $2.6M from Michigan Strategic Fund Board for facility expansion: 5 things to know
3 orthopedic & spine device companies with new device launches, releases

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