Doctors net billions from drug firms….

October 8, 2014

2014-10-02_09-11-00Drug and medical-device companies paid at least $3.5 billion to U.S. physicians and teaching hospitals during the final five months of last year, according to the most comprehensive accounting so far of the financial ties that some critics say have compromised medical care….

Some doctors have earned tens of thousands of dollars annually from drug companies by flying to various cities to give paid speeches, while some surgeons have received even larger amounts from medical-device makers, partly from royalties on products they helped develop….

One former Senate staffer who was closely involved in the effort to pass the Sunshine Act hopes the database will do some good. “This website will let patients ask a very important question: ‘Is a relationship between my doctor and a drug company right for me?’ It took six years of hard work to get this site together and, hopefully, it will help clean up medicine,” said Paul Thacker, a former aide to Sen. Chuck Grassley (R-Iowa) who is now a fellow at the Safra Ethics Center at Harvard University. He said the “total amount of money is pretty eye popping.”

SOURCE:  Doctors net billions from drug firms – Yahoo Finance.

Doctors receiving $3.5 billion from the drug companies was a total surprise to me. I knew the drug companies pampered them hoping that they will prescribe their drug over their competitor’s but some of the instances reported in the source articles go way beyond an ethical boundary.

I find it totally astounding that it is illegal for the largest medical care company in the country to negotiate prices with the drug manufacturers. It is a well known fact that all other countries in the world get their pharmaceuticals at a deeply discounted price. Why must Medicare pay full price when everyone else can bargain for their needs? How many billions of dollars are needlessly spent to give these guys a golden apple?

They say Medicare will go broke in about twenty years or so. I wonder how far that would be extended if we could bargain with the drug companies? Getting back to the original thoughts about this article why  is it even legal for doctors to take all the bribes that apparently do from these guys. A doctor being paid $70,000+ to give a seminar in an exotic location and which no one attends is surely a grossly unethical situation. Doctors who are among the top ten most compensated profession makes enough without these bribes!

It will take a legislative branch similar to those during the Teddy Roosevelt administration to finally put an end to these types of practices. If we are serious about cutting our healthcare costs in this country the drug companies are the low hanging fruit to be first dealt with. If only our current gridlocked government would life up to their responsibilities and do the people’s business. It is as simple as that….

Advertisements

2 responses to Doctors net billions from drug firms….

  1. 

    What can we do to offset this reality?

    Like

    • 

      I don’t know Mary but I’m sure there is something on the books about bribing others for material gain. It will take a brave soul to even face this stuff…

      Like