Wednesday, July 8, 2015

Dollars for doctors: sunshine act changing payments for industry to doctors in Minnesota

Medtronic pays 8 physicians $1M+:

Medical device companies based in Minnesota, including Medtronic, paid millions to physicians last year, according to a Star Tribune report.

Here are five key takeaways from the article:

1. Medtronic PLC paid more than $1 million to eight physicians across the country.

2. Medtronic PLC and St. Jude Medical paid physicians $81 million all together

3. In total, physicians and hospitals received $211 million from Minnesota medical device companies.

4. More than 600,000 physicians and 1,100 hospitals accepted payments last year; the payments totaled $6.49 billion covering consulting, gifts and honoraria, royalties, stock dividends, travel and dining.

5. Last month, the University of Minnesota banned most types of payments after criticisms that payments create financial incentives and conflicts of interest for research programs.

See related post in this link.

And here is a related press release from Philadelphia


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