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Article
“Balancing Corporate Governance, Patients’ Interests, and Physicians’ Fiduciary Roles in the Healthcare Arena – What Would the Reasonable Person Do?”.
–The North Carolina Central University Biotechnology and Pharmaceutical Law Review (2009)
  • rachel v rose, Stetson University
Abstract
Oversight begins with disclosure. Part I of this article addresses corporate governance in the context of financial crisis and Sarbanes Oxley. Part II highlights both the role of pharmaceutical/medical device companies in compensating physicians for the time away from their practices for educational purposes, and the consequences of physician business relationships on the fiduciary duty owed by physicians to patients. The significance of voluntary compliance programs is set forth in Part III. Present and proposed policies for the oversight of business relationships between physicians and medical device/pharmaceutical companies are discussed in Part IV. Finally, Part V concludes that a “reasonable person” would contend that physician and manufacturer disclosure of their business relationship specifics to healthcare consumers is paramount, that enforcement is essential for effective oversight, and that by aligning incentives, the impact of the “rational actor paradigm” can be mitigated.
Disciplines
Publication Date
Spring 2009
Citation Information
rachel v rose. "“Balancing Corporate Governance, Patients’ Interests, and Physicians’ Fiduciary Roles in the Healthcare Arena – What Would the Reasonable Person Do?”." –The North Carolina Central University Biotechnology and Pharmaceutical Law Review Vol. Spring 2009 (2009)
Available at: http://works.bepress.com/rachel_rose/10/