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Feds to force drug makers to disclose doctor compensation

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Feds to force drug makers to disclose doctor compensation

Tampa Bay Business Journal Date: Tuesday, January 17, 2012, 6:39am EST

Drug companies would be required to adopt stringent disclosure policies when they compensate doctors.

A quarter of doctors take cash payments from drug or device makers and nearly two-thirds accept routine gifts of food, including lunch for staff members and dinner for themselves, according to analyses by the New York Times and others, including the Business Journal and its sister publications.

Now, the Obama administration is set to require drug companies to adopt stringent disclosure policies when they compensate doctors for everything from speaking, travel and entertainment to research and consulting, the Times said.

More than 1,100 drug, device and medical supply companies would have to file reports, the administration said in the report. That will create a large set of useful new data and allow federal officials to inspect and audit drug company records to make sure the reports were accurate and complete.

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