Medtronic set to disclose physicians payments
This article was originally published in Clinica
Medtronic is to begin reporting any consultancy fees and royalties paid to physicians using its products, in a bid to make more transparent its financial relationships with healthcare professionals. The Minneapolis, Minnesota-based company said it will report any payments over $5,000 on its website, with a third party commissioned to scrutinise the accuracy of the statement. The first disclosure is expected in March 2011, and will detail payments during 2010. Medtronic’s decision to provide greater fiscal transparency follows the reintroduction of the “sunshine” legislation into US Congress, which aims to make medical device firms publicly report any payments to doctors over $100 per year (see Clinica No 1333, p 5).
You may also be interested in...
Alere’s professional diagnostics business helped the firm record overall revenue growth in the fourth quarter of 2010, offsetting a fall in influenza-based sales in North America.
Integra LifeSciences has gained exclusive worldwide rights from Stout Medical to develop and commercialise an expandable interbody fusion device.
Gen-Probe recently launched its Panther automated molecular diagnostics system in Europe with the aim of bringing another dimension to its product portfolio. Joseph Harvey met the firm’s CEO, Carl Hull, at the launch of the product in Frankfurt to find how high the firm has set its sights in the molecular diagnostics sector and how it is going to achieve its goals