$211,272.07 ownership Payment -- Amgen Inc to Dr. Scott Collins
Oncology Physician Scott Collins Receives Over $211K Ownership Interest from Amgen Inc.
This page provides a detailed analysis of a $211,272.07 ownership payment from Amgen Inc to Dr. Scott Collins. Data is from the CMS Open Payments (Sunshine Act) database.
Payment Details
| Field | Value |
|---|---|
| Amount | $211,272.07 |
| Payment Type | ownership |
| Payment Nature | Ownership or Investment Interest |
| Pharmaceutical Company | Amgen Inc |
| Physician | Dr. Scott Collins |
| NPI Number | 1582134978 |
| Physician Specialty | Oncology |
| Location | City, IN |
| Date of Payment | 2024-08-31 |
| Related Drug/Device | Xtandi |
| Conflict Assessment | High -- Significant |
AI-Powered Analysis of This Payment
The following analysis was generated by artificial intelligence to help patients understand the context, significance, and implications of this pharmaceutical payment. This analysis is not medical or legal advice.
Amgen Inc made a $211.3K ownership payment to Scott Collins, a Oncology specialist in City, IN. The payment was associated with Xtandi. Scott Collins received a substantial ownership interest payment of $211,272.07 from Amgen Inc. This payment is categorized as an 'Ownership or Investment Interest', indicating a financial stake rather than a direct payment for services. The payment is associated with Xtandi, a drug commonly used in Oncology.
Patient Guidance: What This Payment Means for You
If you are a patient, understand that your doctor may have financial interests in the medications or devices they prescribe. Discuss any concerns about potential conflicts of interest with your healthcare provider. Always discuss your treatment options with your healthcare provider and ask about alternatives.
Payment Context: Is This Amount Normal?
Ownership interest payments can be substantial and are distinct from payments for services, potentially indicating a deeper financial relationship with the pharmaceutical company compared to typical consulting fees in Oncology.
Regulatory Context: Sunshine Act Requirements
This payment falls under the Sunshine Act provisions of the Affordable Care Act, requiring disclosure of financial relationships between drug and device manufacturers and physicians.
Related Topics
This payment is related to the following healthcare transparency topics:
- ownership-interest
- amgen-inc
- scott-collins
- oncology
- xtandi
- cms-open-payments
Understanding ownership Payments
Ownership and investment interest payments represent dividends, returns, or other financial benefits from physician ownership stakes in pharmaceutical or medical device companies. These relationships represent the most direct form of financial interest and are subject to the strictest reporting requirements under the Sunshine Act.
Frequently Asked Questions About This Payment
What was this $211.3K payment for?
This was a ownership payment of $211.3K from Amgen Inc to Scott Collins, categorized as "Ownership or Investment Interest". It was associated with Xtandi. The payment was reported under the Sunshine Act (CMS Open Payments).
Does Scott Collins accept pharmaceutical money?
Yes, Scott Collins received this $211.3K payment from Amgen Inc. Under the Sunshine Act, pharmaceutical companies must report all payments to physicians exceeding $10. You can view Scott Collins's full payment history on the CMS Open Payments database or on this site.
Is it legal for doctors to accept pharma payments?
Yes, it is legal for physicians to receive payments from pharmaceutical companies. The Physician Payments Sunshine Act (2010) requires transparency by mandating that companies report all payments exceeding $10 to CMS. These payments include consulting fees, meals, travel, speaking fees, and research grants. The law does not prohibit payments but ensures public disclosure.
Should I be concerned about this ownership payment?
A ownership payment of $211.3K should be evaluated in context. Payment does not imply wrongdoing, but patients have the right to ask their doctor about pharmaceutical relationships.
How do I talk to my doctor about pharma relationships?
You can ask your doctor directly: "Do you receive payments from pharmaceutical companies?" and "Does this affect which medications you prescribe?" Most doctors will answer honestly. You can also verify payment data yourself through CMS Open Payments (openpaymentsdata.cms.gov). Consider asking about generic alternatives and whether the prescribed medication is the best option regardless of manufacturer relationships.
What types of pharma payments are most concerning?
Ownership interests and large consulting/speaking fees are generally considered more significant than meals or small educational grants. Research payments typically fund clinical studies and are common in academic medicine. The total volume and concentration of payments from a single company may be more telling than any individual payment. Patterns matter more than individual transactions.
Does pharma money affect what my doctor prescribes?
Research shows that even small payments can influence prescribing behavior. Studies published in JAMA Internal Medicine found that physicians who received meals costing as little as $20 were more likely to prescribe the promoted brand-name drug. However, many physician-industry interactions are legitimate professional activities. The key is transparency and awareness.
How does this compare to other doctors in Oncology?
To compare this payment against Oncology averages, check the full specialty breakdown on CMS Open Payments. Payment amounts vary widely by specialty and type. Oncology physicians may receive payments for consulting, speaking, or research that are standard for the field. Individual payments should be evaluated in the context of the doctor's full payment history.
What does this payment reveal about Scott Collins's relationship with Amgen Inc?
The payment amount is significant, suggesting a considerable ownership stake. This $211.3K ownership payment is part of the transparency data reported under the Sunshine Act.
Is this payment amount typical for Oncology?
The payment type is 'ownership', which differs from typical consulting or speaking fees.
What should patients do after learning about this payment?
If you are a patient, understand that your doctor may have financial interests in the medications or devices they prescribe. Discuss any concerns about potential conflicts of interest with your healthcare provider.
What else should I know about this ownership payment?
The date of payment is August 31, 2024, placing it within recent reporting periods.
Related Reports
Data from CMS Open Payments. Payment does not imply wrongdoing. Consult your healthcare provider about any concerns.