ISMPP Publication Primer Practice Exam 2025 – Your All-in-One Resource to Achieve Exam Success!

The requirement to report payment information greater than $10 annually pertains to the transparency regulations set forth under the Physician Payments Sunshine Act, which is part of the Affordable Care Act. This act mandates that certain financial relationships between healthcare providers, such as physicians, and pharmaceutical or medical device companies be publicly disclosed. The Centers for Medicare and Medicaid Services (CMS) is responsible for overseeing and implementing the reporting requirements of this legislation.

In particular, companies must detail any payments or transfers of value they provide to physicians or teaching hospitals, ensuring transparency regarding financial interactions in the healthcare industry. This initiative aims to help prevent conflicts of interest and enhance accountability, thereby ultimately promoting patient safety and informed decision-making.

Given this context, CMS is indeed the correct entity to which this financial information must be reported annually when it exceeds the established threshold.