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| Blogs > Sunshine217 > In Celebration of Uniqueness!! |
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What's Your Take? Working in the healthcare industry in psychiatry most of my professional career, drug companies used to sponsor our Christmas parties every year. The food and booze was plentiful and we all had a great time. This ceased in PA. when it became against state law. We were all disappointed. Working in Real Estate in FL for the past 13 years, the Title companies did the same thing for Realtors throughout the year, though not near as lavish as the drug companies, then that too went away due to new regulations. Of course we Realtors gave our business to companies that gave us goodies, and complained when the goodies stopped, so I'm surprised that this law was needed. Evidently, the laws of which I have been speaking were on a state level only. U.S. to Force drug Firms to Report Money Paid to Doctors By ROBERT PEAR,Published: January 16, 2012 WASHINGTON — To head off medical conflicts of interest, the Obama administration is poised to require drug companies to disclose the payments they make to doctors for research, consulting, speaking, travel and entertainment. Many researchers have found evidence that such payments can influence doctors’ treatment decisions and contribute to higher costs by encouraging the use of more expensive drugs and medical devices. Consumer advocates and members of Congress say patients may benefit from the new standards, being issued by the government under the new health care law. Officials said the disclosures increased the likelihood that doctors would make decisions in the best interests of patients, without regard to the doctors’ financial interests. Large numbers of doctors receive payments from drug and device companies every year — sometimes into the hundreds of thousands or millions of dollars — in exchange for providing advice and giving lectures. Analyses by The New York Times and others have found that about a quarter of doctors take cash payments from drug or device makers and that nearly two-thirds accept routine gifts of food, including lunch for staff members and dinner for themselves. The Times has found that doctors who take Money from drug makers often practice medicine differently from those who do not and that they are more willing to prescribe drugs in risky and unapproved ways, such as prescribing powerful antipsychotic medicines for . Under the new standards, if a company has just one product covered by Medicare or Medicaid, it will have to disclose all its payments to doctors other than its own employees. The federal government will post the payment data on a Web site where it will be available to the public. Manufacturers of prescription drugs and devices will have to report if they pay a doctor to help develop, assess and promote new products — or if, for example, a pharmaceutical sales agent delivers $25 worth of bagels and coffee to a doctor’s office for a meeting. Royalty payments to doctors, for inventions or discoveries, and payments to teaching hospitals for research or other activities will also have to be reported. The Obama administration estimates that more than 1,100 drug, device and medical supply companies will have to file reports, generating “large amounts of new data.” Federal officials said they would inspect and audit drug company records to make sure the reports were accurate and complete. Companies will be subject to a penalty up to $10,000 for each payment they fail to report. A company that knowingly fails to report payments will be subject to a penalty up to $100,000 for each violation, up to a total of $1 million a year. The world is a book and those who do not travel read only one page: St. Augustine |
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1/17/2012 7:16 am |
Taxpayers should have to file 1099s on money paid to attorneys so that the IRS would have records of attorney income. Attorneys must be so honest that there is no need to monitor them like most others--or is it that attorneys have congressional enfluence? The reason some attorney fees are not tax deductible is because attorneys do not want a record of what they are paid going to the IRS.
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1/17/2012 7:56 am |
Taxpayers should have to file 1099s on money paid to attorneys so that the IRS would have records of attorney income. Attorneys must be so honest that there is no need to monitor them like most others--or is it that attorneys have congressional enfluence? The reason some attorney fees are not tax deductible is because attorneys do not want a record of what they are paid going to the IRS. The world is a book and those who do not travel read only one page: St. Augustine
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I agree that money paid to anyone in the health care industry should have to be reported.
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1/17/2012 10:26 am |
I agree that money paid to anyone in the health care industry should have to be reported. The world is a book and those who do not travel read only one page: St. Augustine
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I will admit that I did take the odd coffe cup, exam light and room charts, but never prescribed new drugs or equipment untill I did full research on the items myself. Interesting report Sunshine.
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1/18/2012 2:20 pm |
I will admit that I did take the odd coffe cup, exam light and room charts, but never prescribed new drugs or equipment untill I did full research on the items myself. Interesting report Sunshine. The world is a book and those who do not travel read only one page: St. Augustine
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