Medtronic set to disclose physicians payments
This article was originally published in Clinica
Executive Summary
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).
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