If I say "consulting payments" in the same sentence as my doctor's name, most would conjure up an image of him looking at an x-ray, shaking his head, and conferring with other physicians about what to do for this complicated case he's been called in on. Or if I am not happy with the treatment I am receiving for my poor shoulder I might ask for a second opinion and be seen in consultation. Medicare would gladly pay for the tests and the visit, "consulting payments" would be a good name for that service.
But the modern use of the phrase does not come across as so noble. Pharmaceutical companies aggressively market their products, drugs. The market is competitive and profit driven. Companies have spent small fortunes developing new drugs and it is understandable that they want and need to recoup those costs. One approach is to make the new product interesting or attractive to the physician or hospital.
Under the Affordable Care Act, all drug makers are now required to disclose payments they make to doctors, those payments we're calling consulting payments. A company that is sponsoring a drug research program may pay out hundreds of thousands of dollars in speaking and consulting fees, spread out affecting dozens of doctors wallets. While these payments are not tied to any contract requiring the doctor to endorse their drug, they do influence which drugs the physician prescribes.
This data is now available on line at http://cms.gov/openpayments/
ProPublica, a business research reporting entity, compiled a list of the top twenty drugs being promoted by drug companies paying the most in consulting fees. They are:
Victoza (diabetes), Eliquis (anti-clotting), Brillinta (a blood thinner), Invokana (diabetes), Latuda (schizophrenia), Xarelto (anti-clotting), Humira (arthritis), Tudorza (COPD), Daliresp (COPD), Abilify Maintena (schizophrenia), Abilify (schizophrenia), Linzess (IB Syndrome), Pradaxa (anti clotting), Tradjenta ( diabetes), Belviq ( weight loss), Copaxone (multiple sclerosis), Samsca (hypo atremia), H. P. Acthar (infantile spasms), Symbicort (asthma), and Aubagio ( multiple sclerosis).
Interesting how we are familiar with many of these new drugs because they are prominently featured in TV ads during the news hour every night. I'm not sure how effective the ad campaigns are. Most of the ad time us taken up with describing the fearsome side effects of the drugs. I love when they wrap it up listing "even death" as a possible complication of the drug. It doesn't make me want to rush into my doctor's office for the latest new treatment!
By the way, possibly because of advocacy groups pushing drug makers to disclose payments to doctors, consulting payments have gone down a little. Perhaps the addition of the Affordable Care Act scrutiny will have more of a good effect.
Archive timeline: 2014: May and June - preparing for surgery, July - surgery and post op problems,
August - recovery and physical therapy, September - thinking medically, October - getting back to normal. November. -still in recovery, December-6 months and holding. 2015 January-current events.
But the modern use of the phrase does not come across as so noble. Pharmaceutical companies aggressively market their products, drugs. The market is competitive and profit driven. Companies have spent small fortunes developing new drugs and it is understandable that they want and need to recoup those costs. One approach is to make the new product interesting or attractive to the physician or hospital.
Under the Affordable Care Act, all drug makers are now required to disclose payments they make to doctors, those payments we're calling consulting payments. A company that is sponsoring a drug research program may pay out hundreds of thousands of dollars in speaking and consulting fees, spread out affecting dozens of doctors wallets. While these payments are not tied to any contract requiring the doctor to endorse their drug, they do influence which drugs the physician prescribes.
This data is now available on line at http://cms.gov/openpayments/
ProPublica, a business research reporting entity, compiled a list of the top twenty drugs being promoted by drug companies paying the most in consulting fees. They are:
Victoza (diabetes), Eliquis (anti-clotting), Brillinta (a blood thinner), Invokana (diabetes), Latuda (schizophrenia), Xarelto (anti-clotting), Humira (arthritis), Tudorza (COPD), Daliresp (COPD), Abilify Maintena (schizophrenia), Abilify (schizophrenia), Linzess (IB Syndrome), Pradaxa (anti clotting), Tradjenta ( diabetes), Belviq ( weight loss), Copaxone (multiple sclerosis), Samsca (hypo atremia), H. P. Acthar (infantile spasms), Symbicort (asthma), and Aubagio ( multiple sclerosis).
Interesting how we are familiar with many of these new drugs because they are prominently featured in TV ads during the news hour every night. I'm not sure how effective the ad campaigns are. Most of the ad time us taken up with describing the fearsome side effects of the drugs. I love when they wrap it up listing "even death" as a possible complication of the drug. It doesn't make me want to rush into my doctor's office for the latest new treatment!
By the way, possibly because of advocacy groups pushing drug makers to disclose payments to doctors, consulting payments have gone down a little. Perhaps the addition of the Affordable Care Act scrutiny will have more of a good effect.
Archive timeline: 2014: May and June - preparing for surgery, July - surgery and post op problems,
August - recovery and physical therapy, September - thinking medically, October - getting back to normal. November. -still in recovery, December-6 months and holding. 2015 January-current events.
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