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Essay / Gifts in the Medical Industry - 941
In a recent St. Paul Pioneer Press article (http://www.cbsnews.com/8301-505245_162-57348681/drug-company-money-on-rise- for-2-minn-clinics/), the University of Minnesota and Mayo Clinic came under public scrutiny after it was revealed they received $650,000 between them in 2010. Gifting has always been a touchy subject in the medical industry. Various articles have been written on the subject exploring the pros and cons. But the tug of war between ethics and the effects of commercialism has yet to be seen in the position of medical institutions and healthcare providers. In 2008, Fortune 500 magazine ranked the pharmaceutical industry as one of the three most profitable industries in America. This should come as no surprise since there will always be illnesses and illnesses and, therefore, there will be patients who need medication for these illnesses. “It’s a lucrative industry that uses different strategies to generate revenue.” said James Rhee, professor in the Department of Physician Assistant Studies at Eastern Virginia School of Medicine, when describing the industry in his article in the Internet Journal of Academic Physician Assistants (http://www .ispub.com/journal/the- internet-journal-of-assistant-doctors-universities/volume-7-number-1/the-influence-of-the-pharmaceutical-industry-on-the-practitioners-of-the -prescription-health-habits.html). Business is business for these big pharmaceutical industries and they employ marketing techniques that will ensure their profitability. To achieve these gains, pharmaceutical companies are employing variations on the tried-and-true theme of gifting. IS GIVING GIFTS APPROPRIATE? As early as 2003, Harvard's Arnold Relman...... middle of paper...... When it comes to conflict of interest issues, key people in strategic positions like the director of Harvard's Office of Institutional Compliance University of Minnesota's Lynn Zentner said: “Unmanaged conflict is a problem,” “Having a conflict of interest is not a problem.” .”# # #Works Cited (http://www.cbsnews.com/8301-505245_162-57348681/drug-company-money-on-rise-for-2-minn-clinics/), (http://www .ispub.com/journal/the-internet-journal-of-academic-physician-assistants/volume-7-number-1/the-influence-of-the-pharmaceutical-industry-on-health-practitioners-prescribe-habits .html),(http://www.bmj.com/content/326/7400/1189.extract),(http://www.twincities.com/ci_19619583?source=pkg),http://www. msnbc.msn.com/id/45796673/ns/technology_and_science-science/t/drug-company-money-rise-minn-clinics/#.TwFJtDX9Mlc)