Medtronic Announces Plans To Begin To Disclose Payments To Physicians In 2011

Main Category: Primary Care / General Practice
Also Included In: Medical Devices / Diagnostics;  Pharma Industry / Biotech Industry
Article Date: 26 Feb 2009 - 3:00 PDT

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Medtronic on Tuesday announced plans to begin to disclose certain payments to physicians, the AP/Miami Herald reports. In a statement, Medtronic said that the company will begin to collect information on payments to physicians and make the first disclosures in March 2011 (AP/Miami Herald, 2/24). The disclosures will include consulting fees, royalties or honoraria for physicians who receive payments of $5,000 or more annually from Medtronic (Burton, Wall Street Journal, 2/24).

Steve Cragle, a Medtronic spokesperson, said that the company cannot begin to make the disclosures earlier because of the need to design a tracking system for payments to physicians to allow the practice. In addition, Medtronic must address confidentiality provisions in some contracts with physicians, Cragle said (Snowbeck, St. Paul Pioneer Press, 2/24).

According to Medtronic Chair and CEO Bill Hawkins, the company also supports a bill (S 301) sponsored by Sens. Herb Kohl (D-Wis.) and Chuck Grassley (R-Iowa) that would require pharmaceutical and medical device companies to publicly disclose any gifts and payments to physicians of $500 or more annually. Hawkins in a statement said, "Relationships between industry and doctors are essential to innovation, education and training in our industry," adding, "Through greater transparency about the nature of these relationships, we will help people better understand how important they are to developing lifesaving and enhancing products for patients who need them" (AP/Miami Herald, 2/24).

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