Physician Financial Relationships And Conflicts Of Interest

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A new physician group called “Who’s My Doctor?” aims to “shed light on the financial relationships between doctors, teaching hospitals and manufacturers that have the potential to influence clinical decisions and raise healthcare costs”, according to Modern Healthcare.

The group “encourages physicians to not only disclose to patients their financial relationships with medical manufacturers, but also report other details about their professional finances, such as whether they receive fee-for-service payments that could motivate them to perform more services.”

They are not the only ones pushing for more transparency regarding potential conflicts of interest. The government will soon open its Open Payments website that “will present information to the public about payments by medical device and drug manufacturers to doctors and teaching hospitals.”

Physicians should envision how their patients might interpret information regarding their conflicts of interest. One physician suggests posting their conflict of interest information in places patients can see it to “begin the dialogue between patients and doctors about financial disclosure.”

Summary By MedicalGroups.com

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