Does your doc get money from drug companies?
There has long been mystery surrounding how much, and to whom, drug companies give money.
Now, ProPublica has put together all of these disclosures that have been appearing recently on the Web. The resulting project, called Dollars for Docs reveals that about $258 million worth of compensation from seven companies went to health care providers in 2009 and 2010.
The team of investigative journalists found that 17,700 providers received such payments. Most of the money went to physicians, but nurses and pharmacists were also included, ProPublica said. The reasons for this money included speaking, consulting, business travel and meals.
More than 380 doctors received at least $100,000 from drug companies, according to the research.
You can look up your doctor in ProPublica's database to see if he or she received any of this money. It's not necessarily bad if money was paid, but it may raise some ethical issues, the website said.
The dark side becomes apparent in this article, which reflects an investigation revealing "hundreds of doctors on company payrolls who had been accused of professional misconduct, were disciplined by state boards or lacked credentials as researchers or specialists."
I'm certainly no expert in this matter. Still, I find these numbers a little outlandish. Color me skeptical. $100,000 kick back to a single physician? More than 380 physicians to be exact? Is that $100,000 in one year or over a 20 year career? That would be $5,000/year over a 20 year career. Is that actually a kickback or some other kind of arrangement that is less ominous. Again, I'm skeptical.
I think actually what isn't unusual is the amount of times doctors turn this stuff down due to the government taking too much. Doctors are already in that upper tax bracket. So by the time these extras come around, they are taxed at the highest rate. So the doctor wonders why should I work extra?
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John Adams “The moment the idea is admitted into society that property is not as sacred as the laws of God, and that there is not a force of law and public justice to protect it, anarchy and tyranny commence.”
Ronald Reagan: 'Everybody that is for abortion has already been born'
"I never said I was worth it. I only said I wouldn't do it for less " William F. Buckley Jr.
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John Adams “The moment the idea is admitted into society that property is not as sacred as the laws of God, and that there is not a force of law and public justice to protect it, anarchy and tyranny commence.”
Ronald Reagan: 'Everybody that is for abortion has already been born'
"I never said I was worth it. I only said I wouldn't do it for less " William F. Buckley Jr.
Happens EVERY DAY my friends. In addition to the annual trips to the islands for seminars on upcoming drugs(bring your family) they have another great scheme worked out.
This is true on my word or I will never post again!!!!!!!!
I personally know a doctor very well, he does "SO CALLED SPEAKING ARRANGEMENTS" about twice a month where he is paid $1,500 for abut an hour total. He gets info from the drug companies and he stands up and presents it to other doctors. All the while the whole dinner, drinks and whatever is paid for 100%. They each rotate and take turns and the payoff continues. 30 minutes prep time, 30 minute speech all the while the drug rep in the room could do a 1,000% better job of presenting the info.
Guess what drug he prescribes when you walk in his office.
Fieldmouse, that is preposterous. Doctors are certainly not afraid to make any more money. i think they need to tax poor people more, they seem to be the ones that don't care about making extra money and spending it. (LOL)
does it make you less trusting of doctors knowing that if they prescribe XXX drugs to all their patients they get $$$$$ kickbacks for doing so ?
Does it say somewhere that that is what is happening? The sharing of information by way of conventions and seminars is hardly a "kickback."
Furthermore, I think most doctors would actually lose gross revenue by attending these events. Bottom line: They most likely attend for reasons other than financial enrichment.
Quote:
I personally know a doctor very well, he does "SO CALLED SPEAKING ARRANGEMENTS" about twice a month where he is paid $1,500 for abut an hour total. He gets info from the drug companies and he stands up and presents it to other doctors. All the while the whole dinner, drinks and whatever is paid for 100%.
While I have serious doubts as to the credibility of WillPA, let's use his scenario as an example of these wonderful "kickbacks."
$1500, plus dinner and drinks....what are we talking here, maybe $1700? For a person who can easily gross between $250k to $500k per year??? First of all, is the physician's time worth nothing? Secondly, if you consider all he has invested time-wise in travel and postponing his patient load, he almost certainly loses money.
Kickback??? Or compensation for the testimony of a professional with first hand experience?
Most Drs. are honorable folks who do not let their love of money interfere with the needs of their patient. Contrary to popular belief, however, everything that every Dr. does is not for the good of every patient. My Dad was on 19 different daily meds when he died at age 90 in 2005. He had been on 15 or more meds daily for at least 10 years.
In 2004 i went through all of Dad's meds in the Physician's Desk Reference. Six of those meds should have not been prescribed because they interfered with Dad's medical conditions or because they greatly interfered with other meds he was taking. i went to Dad's Dr. and raised holy hell. All the dumb sob could do was sit there and go, "but, but, but." He did take Dad off those drugs but then put him back on six more drugs.
I thought Doctors didn't do this ?
