It’s no secret that pharmaceutical companies pay huge sums of money to doctors. The practice has been going on for years. Some of the payments come in the form of gifts such as expensive dinners, parties, vacations, and golf outings. Other forms of payment come as fees for consulting and speaking appointments during which the doctors are paid to promote the companies’ products.
This year alone, drug giant Eli Lilly has paid $22 million to 3,400 healthcare professionals in the first three months. In Florida, the pharmaceutical company has paid $350,000 to a dozen doctors.
How do we know this? As part of settlement with the federal government, Eli Lilly was forced to disclose these payments. Yet, drug makers are willing to continue to make these payments to influence doctors because of the handsome return on investment. Drug companies such as Lilly target doctors and lavish attention on them in order to secure their endorsements as well as their use of their products.
Congress is aware of the problem and has been pushing the companies to disclose such payments. Aware of the potential for a conflict of interest, federal lawmakers want the public and other healthcare providers and institutions to be aware of the tremendous influence such payments have over patient care. Even academic institutions haven’t been immune to the influence peddling.
This behavior isn’t restricted to drug companies either. Major medical device companies pay researchers and doctors huge sums to promote their devices such as artificial hips, knees, and other medical devices. It’s a concern that has warranted the attention and perhaps regulation of Congress.