Objective: To critically review the potential effect of the public reporting of pharmaceutical company payments to healthcare professionals on the relationship between medicine and industry. Method: This review is based on an examination of the 'Transparency Model' put out recently for consultation by Medicines Australia. Results: Public reporting in itself will neither sharpen the boundaries between medicine and the pharmaceutical industry nor restore public confidence. Conclusions: Focusing on payments for clinical research and on the larger payments to healthcare professionals would lead to a better understanding of the interplay between science and marketing. © The Royal Australian and New Zealand College of Psychiatrists 2014.