Relationships with Healthcare Professionals
Our relationship with Healthcare Professionals is part of our commitment to making life-changing, long-term differences in human health and disease management.
We partner with Healthcare Professionals through consulting service arrangements and royalty bearing product development agreements.
Consulting Services: Consultants provide us with invaluable insights in numerous areas of expertise, allowing us to improve the products and services available to patients in our continuing effort to improve patient outcomes. These service arrangements are important to obtain bona fide services or information from individuals who possess special knowledge, capabilities, expertise, qualifications, and/or experience. These consulting relationships with Healthcare Professionals may cover a variety of areas, including scientific research, product development and marketing services, advisory boards, training, the development of educational materials and disease management programs, data processing, and the ongoing safety surveillance of our products.
Royalties: Healthcare Professionals may provide contribution toward the development of new products or other technology and, in some cases, may be named as inventors on patents on our company’s products. Compensation for such contributions may involve the payment of a royalty, a percentage of applicable products’ sales, to the Healthcare Professional for a pre-determined period of time. Reported payments may reflect royalties earned in time periods prior to the posted period. Additionally, royalty payments may include interest payments resulting from delayed payments. Royalty recipients are not entitled to a royalty on their own purchases, or those of other colleagues at the same institution, of the royalty-bearing product.
Payments to Healthcare Professionals
All Healthcare Professionals are compensated based on fair market value standards for their qualifications and the amount of time spent providing services.
Arrangements are made in compliance with all applicable laws and codes in order to minimize actual or perceived conflicts of interests.
We are committed to working with only the most qualified individuals and select our speaking and consulting partners based upon their expertise in their given field.
Compliance with Applicable Laws and Codes
In our relationships, interactions with, and compensation provided to Healthcare Professionals, we observe all applicable laws and codes. We comply with the AdvaMed Code for Interactions with Healthcare Professionals and with FDA regulations to ensure that the product information is presented in a fair and balanced manner consistent with the approved product labeling, including both the product benefits and risks.
Frequently Asked Questions
1. How does the mandatory reporting of physician payments that became law, with the passage of the Patient Protection and Affordable Care Act, affect your reporting of payments made to physicians?
Voluntary Physician Payments Transparency will continue as planned and our Company will comply with the requirements of this law upon the date it becomes effective.
2. Does your Company disclose any other types of payments?
Yes, our Company currently voluntarily discloses on its Web sites the grants made for professional education and charitable contributions.
3. Is compensation in which the payment is not made directly to the physician eligible for inclusion in reporting?
Yes. For payments made on behalf of the physician who performed the services, where the payee is a legal entity other than the physician, the payment will be eligible for inclusion in our Physician Payments Transparency reports. These payments will be listed along with the name of the physician consultant and the name of the payee.
4. Will payments to other types of Healthcare Professionals be disclosed?
No, our voluntary transparency reporting pertains only to U.S. Physicians (M.D.,D.O., D.D.S., O.D., D.P.M.). Thus, any payments to other Healthcare Professionals, such as nurses, physicians’ assistants, etc., will not be disclosed at this time.