Collaboration between industry and physicians drives medical innovation and leads to better patient care. Some of the ways Medtronic collaborates with physicians include:
DBS therapy, which Medtronic helped pioneer, delivers mild electrical pulses to precisely targeted areas of the brain to control symptoms of Parkinson's disease and other conditions via a surgically implanted medical system, similar to a pacemaker.
We are proud of our work with physicians and have policies to ensure our interactions with physicians are principled and appropriate.
We understand the importance of public trust in collaboration and are committed to transparency in an effort to increase patient confidence and project our ability to work with physicians.
We are hopeful that the CMS Open Payments Database will be a move to consistent reporting of physician collaboration across our industry, protecting our ability to continue to pursue this important interaction for the benefit of patients.
Our Long-Term Commitment to Transparency
Years before the Open Payments Database was mandated as part of the 2010 Affordable Care Act, Medtronic was taking steps to eliminate conflicts of interest and ensure that treatment decisions are driven by patient needs and physician expertise.
Developed Business Conduct Standards for employees to adhere to.
2002 - 2009
Helped lead development of AdvaMed's Code of Ethics.
Actively supported the introduction of early versions of the Physician Payment Sunshine Act.
Began publishing a quarterly list of charitable donations made to U.S. customers and organizations in support of medical conferences, charitable events, research and public education programs.
Committed to voluntarily disclose physician services compensation.
Developed guiding principles and standards around physician collaboration.
Began disclosing consulting and royalty payments to U.S. physicians on medtronic.com.
Congress passed Physician Payments Sunshine Act as part of Patient Protection and Affordable Care Act.
Payments to physicians by Medtronic and other manufactures are disclosed on CMS' Open Payments website.
Physician Collaboration Drives Innovation
Medtronic's first revolutionary product, a wearable pacemaker, was developed through a close collaboration between our founder Earl Bakken and a University of Minnesota Medical School heart surgeon.
Deep brain stimulation to treat Parkinson's Disease and insulin pump therapy are other Medtronic innovations born by collaboration.
Physicians collaborating with industry has led to the development of penicillin, cortisone, CAT scans, laser eye surgery, oral contraceptives, vaccines for chickenpox and hepatitis B, and total knee replacement.
See how an Iowa spinal surgeon and Medtronic collaborated to invent a disc that provides greater mobility to patients. Watch the video ▶
Significant Investment to Meet Government Reporting Requirements
Medtronic believes transparency is necessary to maintain public trust in our collaboration. Medtronic invested millions of dollars to develop sound, accurate reporting systems and processes to ensure that we could report data in compliance with CMS regulations.
With more than four years of experience reporting physician payments, Medtronic will continue to provide feedback to CMS in support of the continued evolution of the CMS Open Payments Database.
An Industry Issue
The ability to collaborate with physicians is an important issue for the medical device and pharmaceutical industries. Learn about what other organizations are doing: