Disclosure of drug and device maker money to doctors

M E M O R A N D U M
 
TO:      Reporters and Editors
FR:       Jill Kozeny, 202/2224-1308
            for U.S. Senator Chuck Grassley of Iowa
RE:       Disclosure of drug and device maker money to doctors
DA:      Tuesday, May 20, 2008
 
            Senator Chuck Grassley today released a new letter of support for his initiative to establish new reporting requirements for money that drug and device makers give to doctors in consulting and speaking fees, as well as money spent on meals and entertainment.  The endorsement of Medtronic, Inc. is posted below.
 

Click Here to view the endorsement of Medtronic, Inc.

 
 
            Last September, Senator Grassley and Senator Herb Kohl introduced legislation to require this kind of disclosure.  A version of their legislation – the Physician Payment Sunshine Act (S.2029) -- is being considered for inclusion in a larger Medicare bill under negotiation by Senator Grassley, Chairman Max Baucus and other members of the Senate Committee on Finance.  Senator Grassley said that S.2029 has been modified with input from stakeholders and to make it possible for system-wide reform to be passed this year.
 
            Here is a comment from Senator Grassley about the newly expressed support for the disclosure initiative by Medtronic, Inc.
 
"I appreciate the growing support for this initiative.  Disclosure is good for everyone and, most of all, it’s good for consumers.  Transparency can help build trust because it fosters accountability.  Reporting payments will empower consumers with information, and informed consumers will improve the health care system.  This initiative doesn’t mean anything has to change, and if there’s nothing to hide, there’s no reason to worry.  Medtronic is an industry leader, and the company’s leadership for reform in this area is an important development in the debate.”