$24,122.16 consulting Payment -- Regeneron Pharmaceuticals to Dr. Scott Collins

Payment Details

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.

Regeneron Pharmaceuticals made a $24.1K consulting payment to Scott Collins, a Ophthalmology specialist in Detroit, MI. The payment was associated with Tecfidera. Regeneron Pharmaceuticals paid $24,122.16 to Dr. Scott Collins for consulting services on June 1, 2024. The payment was related to consulting, specifically a consulting fee, for the drug Tecfidera. Dr. Collins, an Ophthalmologist in Detroit, MI, received this payment from the pharmaceutical company.

Patient Guidance: What This Payment Means for You

This payment information is for transparency and does not necessarily indicate endorsement or a direct impact on your care. Always discuss your treatment options with your healthcare provider and ask about alternatives.

Payment Context: Is This Amount Normal?

Consulting fees for physicians can vary widely based on expertise and the scope of work, but this amount may be higher than typical for routine consultations in Ophthalmology.

Regulatory Context: Sunshine Act Requirements

This payment is reported under the Physician Payments Sunshine Act, part of the Affordable Care Act, which requires disclosure of payments made by manufacturers of drugs, medical devices, and biologics to physicians and teaching hospitals.

Related Topics

This payment is related to the following healthcare transparency topics:

• consulting-fee
• ophthalmology
• regeneron-pharmaceuticals
• tecfidera
• physician-payment
• open-payments

Understanding consulting Payments

Consulting payments are made when pharmaceutical companies hire physicians as advisors or consultants. This can include serving on advisory boards, providing expert medical opinions on drug development or marketing strategies, and reviewing clinical data. Consulting is one of the most common forms of pharmaceutical payment to physicians and can range from a few hundred dollars for a brief consultation to tens of thousands of dollars for ongoing advisory relationships.

Frequently Asked Questions About This Payment

What was this $24.1K payment for?

This was a consulting payment of $24.1K from Regeneron Pharmaceuticals to Scott Collins, categorized as "Consulting Fee". It was associated with Tecfidera. The payment was reported under the Sunshine Act (CMS Open Payments).

Does Scott Collins accept pharmaceutical money?

Yes, Scott Collins received this $24.1K payment from Regeneron Pharmaceuticals. 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 consulting payment?

A consulting payment of $24.1K may reflect legitimate advisory services the physician provides. 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 Ophthalmology?

To compare this payment against Ophthalmology averages, check the full specialty breakdown on CMS Open Payments. Payment amounts vary widely by specialty and type. Ophthalmology 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 Regeneron Pharmaceuticals?

The payment amount is substantial for a single consulting engagement. This $24.1K consulting payment is part of the transparency data reported under the Sunshine Act.

Is this payment amount typical for Ophthalmology?

The payment type is explicitly 'consulting fee', indicating a direct service provided.

What should patients do after learning about this payment?

This payment information is for transparency and does not necessarily indicate endorsement or a direct impact on your care.

What else should I know about this consulting payment?

The drug 'Tecfidera' is associated with the payment, suggesting a focus on its use or development.

Related Reports

• View Dr. Scott Collins's full payment report
• Regeneron Pharmaceuticals full spending report
• Browse all Ophthalmology payments
• Browse all payments in Michigan
• Search for other payments