Navigation Links
Federal Laws Debut this Week to Expose Financial Ties Between Medical Companies and Doctors, Parker Waichman LLP Notes
Date:7/30/2013

New York, New York (PRWEB) July 30, 2013

Parker Waichman LLP, a national law firm dedicated to protecting the rights of victims injured by defective drugs and medical devices, comments on the debut of the Physician Payment Sunshine Act provision of the Affordable Care Act, which is being implemented this week to expose cases of allegedly fraudulent financial relationships between doctors and pharmaceutical and medical device companies, as detailed in the Feb. 8, 2013, Federal Register. It will do so by having the device makers and drug companies collect data on their financial relationships with doctors, researchers and teaching hospitals.

The provision resulted from six years of legislative and regulatory battles fought over whether some drug and medical device companies were gaining inappropriate influence, according to a July 28 (Minneapolis) Star Tribune report.

Minnesota is home to the multibillion-dollar medical technology sector, which believes the new federal mandate is cause for optimism, according to the article. Many companies are banking on these new regulations to quell any concern about alleged fraudulence.

Medtronic, one of the world’s largest device makers, is a recent example that highlights the medical device industry’s lingering concerns over doctor payments, the article noted. The U.S. Senate Finance Committee alleged in October that Medtronic had heavily influence medical-journal reports regarding its spinal fusion product, Infuse, the Star Tribune noted. The committee questioned whether doctors who supervised the studies had downplayed Infuse’s risks while shining a spotlight on the product’s benefits –allegedly doing so to the tune of $210 million in royalties and consulting fees paid to them from Medtronic over a 15-year period.

“We believe patients have the right to know things like whether their physician is getting paid a huge sum of money from the pharmaceutical company or medical device maker that makes the pill or medical device that the doctor prescribes for them,” said Parker Waichman LLP. “It should be quite obvious that there is potential for conflicts of interest in such instances.”

Starting Thursday, drug and medical companies must track transactions with doctors, teaching hospitals and other health-related businesses. The first round of data must be submitted to federal regulators by the end of the year; it is slated to be made public by next September. The new law comes with fines of up to $1.15 million for companies that fail to disclose. It also requires senior managers to sign off on the data, making them personally accountable.

Parker Waichman LLP is currently offering free legal consultations to victims of Medtronic Infuse Bone Graft Injuries. If you or a loved one suffered a serious complication or injury after receiving Medtronic Infuse, please contact their office by visiting the firm's Medtronic Infuse injury page at yourlawyer.com. Free case evaluations are also available by calling 1-800-LAW-INFO (1-800-529-4636).

Contact:    
Parker Waichman LLP
Gary Falkowitz, Managing Attorney
(800) LAW-INFO
(800) 529-4636
http://www.yourlawyer.com

Read the full story at http://www.prweb.com/releases/federal_disclosure_law/medtronic_infuse/prweb10979754.htm.


'/>"/>
Source: PRWeb
Copyright©2012 Vocus, Inc.
All rights reserved

Related medicine news :

1. Mesh Lawsuit News: Bernstein Liebhard LLP Notes New Order in Federal Ethicon Vaginal Mesh Lawsuits
2. New Update on Alleged Transvaginal Mesh Complications Lawsuits: First Federal Trial Involving Allegations of Serious Side Effects from C.R. Bard Mesh Scheduled to Begin
3. Mesh Lawsuit – Bellwether Cases Selected in Federal Litigation Underway for Ethicon Transvaginal Mesh Lawsuits, Bernstein Liebhard LLP Reports
4. Actos Lawsuit – Status Conference Convened in Federal Actos Bladder Cancer Multidistrict Litigation, Bernstein Liebhard LLP Reports
5. Byetta Lawsuit - Claims Move Forward, as Panel Considers Consolidation of Federal Claims Involving Byetta and Similar Diabetes Drugs, Bernstein Liebhard LLP Reports
6. Mesh Lawsuit - First Bellwether Trial in Federal C.R. Bard Transvaginal Mesh Litigation Set to Begin Monday, Bernstein Liebhard LLP Reports
7. Pradaxa Lawsuit News: Bernstein Liebhard LLP Reports on Latest Status Conference in Federal Pradaxa Bleeding Litigation
8. Actos Bladder Cancer Lawsuit News: Bernstein Liebhard LLP Notes Issuance of New Order in Federal Actos Litigation
9. GranuFlo Lawsuits Move Forward, as Bernstein Liebhard Notes Issuance of New Order in Federal GranuFlo Recall Litigation
10. Transvaginal Mesh Lawsuits Move Forward in Federal Litigations with Issuance of New Case Management Order, Bernstein Liebhard LLP Reports
11. Actos Lawsuits Move Forward, as Bernstein Liebhard LLP Notes Upcoming Status Conference in Federal Actos Bladder Cancer Litigation
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/26/2016)... ... June 27, 2016 , ... Quality metrics are proliferating in cancer ... they remain in the eye of the beholder, according to experts who offered insights ... American Journal of Managed Care. For the full issue, click here . , ...
(Date:6/26/2016)... Birmingham, Lake Orion, Clarkston, Michigan (PRWEB) , ... ... ... their direction with respect to fertility once they have been diagnosed with endometriosis. ... for tolerable intercourse but they also require a comprehensive approach that can help ...
(Date:6/25/2016)... ... June 25, 2016 , ... First Choice Emergency Room ... Dr. Sesan Ogunleye, as the Medical Director of its new Mesquite-Samuell Farm facility. ... of our new Mesquite location,” said Dr. James M. Muzzarelli, Executive Medical Director of ...
(Date:6/24/2016)... ... June 24, 2016 , ... A recent article published June ... with. The article goes on to state that individuals are now more comfortable seeking ... common operations such as calf and cheek reduction. The Los Angeles area medical group, ...
(Date:6/24/2016)... ... June 24, 2016 , ... Global law firm Greenberg Traurig, P.A. ... The attorneys chosen by their peers for this recognition are considered among the top ... Shareholders received special honors as members of this year’s Legal Elite Hall of Fame: ...
Breaking Medicine News(10 mins):
(Date:6/24/2016)... , June 24, 2016 ... Market by Type (Standard Pen Needles, Safety Pen Needles), ... (Insulin, GLP-1, Growth Hormone), Mode of Purchase (Retail, Non-Retail) ... MarketsandMarkets, This report studies the market for the forecast ... to reach USD 2.81 Billion by 2021 from USD ...
(Date:6/23/2016)... DUBLIN , June 23, 2016 ... "Dialysis Devices Global Market - Forecast to 2022" report ... is the treatment method for the patients with kidney failure, ... and excess fluid from the patient,s blood and thus the ... sodium, potassium and chloride in balance. Increasing ...
(Date:6/23/2016)... DUBLIN , June 23, 2016 ... "Global MEMS Devices Medical Market Analysis 2016 - Forecast to ... The report contains up to date financial ... reliable analysis. Assessment of major trends with potential impact on ... dive analysis of market segmentation which comprises of sub markets, ...
Breaking Medicine Technology: