Physicians News » Uncategorized http://www.physiciansnews.com Tue, 07 Feb 2012 16:44:06 +0000 en hourly 1 http://wordpress.org/?v=3.2.1 Keeping Your Investments on Track throughout Your Career http://www.physiciansnews.com/2011/08/09/keeping-your-investments-on-track-throughout-your-career/ http://www.physiciansnews.com/2011/08/09/keeping-your-investments-on-track-throughout-your-career/#comments Tue, 09 Aug 2011 23:50:22 +0000 Physicians News http://www.physiciansnews.com/?p=4209 By Peter Rohr Physicians, much like lawyers and business leaders, face different financial needs as they progress through their career. From finishing medical school to joining a practice, having years of productivity and ultimately retiring, each phase presents its own set of unique financial needs and challenges. However, a common thread is evident through each phase; it’s never too early to start planning for your financial future to help ensure long-term success. Strategizing Debt and Saving for Your Future Although six years of medical school tuition is an investment with good return over the long-term, many recent graduates find themselves battling sky-high student loans. Thus, it’s important to have a strategy in place for tackling debt post-graduation. Your financial advisor can ensure that your financial strategy takes into account the debt that you must pay down, while allowing you to meet your other short-term financial needs, positioning you for long-term financial growth. As you are establishing your career, it is also important to think ahead to your future and start saving for retirement. One way to do this is to take advantage of the retirement contribution program and benefits made available through your practice. Everyone’s risk tolerance and budgetary needs are different, so work with your financial advisor to find the most appropriate way for you to pay down debt, and the right asset allocation to help you invest for the future. Of course, asset allocation does not assure a profit or protect against loss in declining markets.  Remember, investment products are not FDIC-insured, not bank guaranteed and may lose money. Building Your Career – and Financial Security For physicians focused on building their practice, personal time can be hard to come by. But paying close attention to your finances throughout your career is critical to achieving your long-term goals, and a financial advisor can help you stay focused and on-track. Indeed, according to the January 2011 Merrill Lynch Affluent Insights Survey (MLAIS), when asked the number one piece of long-term saving and investing advice they would give their 30-year-old-self, 34 percent of affluent Philadelphians recommended working with a financial advisor or working with one earlier in life. The highly demanding life of a physician leaves little time to think about the importance of a financial portfolio and ways to balance expenses with other financial obligations. While furthering your career, you may also be raising a young family, saving for a child’s education, looking to buy a second home, and traveling.  In order to plan properly, it’s important to incorporate all of these expenses into your overall financial strategy. As with tending to your personal finances, it is also important to create a balanced financial strategy for your practice. You need to consider how to balance the budget in order to support the medical associates who have joined your group, all the while keeping in mind the long-term plans for the practice. Creating a budget and setting financial goals, for both your personal and professional life, can help you prioritize your financial needs and set a foundation for your financial future. Working together with a professional who understands your financial concerns and priorities, and who can help guide your overall financial strategy, will allow you to focus on your career aspirations. Planning for a Transition Transitioning out of the practice can be intimidating and emotional for physicians – but the earlier you plan, the smoother the path can be. Consider your options a few years before you are ready to pass the baton – who will take the reins?  Passing your practice to trusted younger physicians can help you feel that your legacy will be in good hands. Consider how involved you will be in the practice during your last years practicing and how you would like to the transition to occur.  There is no need for an abrupt exit; the transition into retirement can be a gradual process that takes place over time. With retirement on the horizon, creating a strategy that best meets the needs of your practice as well as of your personal finances will allow you to gracefully transition into your future. Retirement Your Way According to the MLAIS, 88 percent of Philadelphia’s affluent believe their retirement will differ from that of their parents. In fact, more than half plan to continue working during what would normally be considered their retirement years, and 30 percent plan to relocate to another city. This suggests that for many, “retirement” may be an active time, full of adventure, education – possibly even a second career. And this requires careful planning in terms of finances.  Put a strategy in place and start putting money away for retirement early. As you get deeper into your career, set specific goals for investing – consider how much you’ll need to live the lifestyle you want, and what your personal goals will be during these years. In order to live the retirement life you have dreamed of, it’s important to plan early. In addition to planning ahead in order to support your lifestyle in retirement, it’s important to consider unforeseen expenses that may arise when developing your financial strategy. For example, as a physician you spend your career focusing on healthcare for others, but it is also important to consider your own healthcare needs during retirement.  According to the U.S. Department of Health and Human Services, 70 percent of people older than 65 will eventually need some sort of long-term care. In order to be prepared, your financial advisor can help you understand the options available to maximize your payments during retirement. No matter what phase of your career you are in, it’s never too late to start planning for the next step. Working closely with a financial advisor as you transition through each stage of your career can help you develop a sound financial  roadmap for your future, both professionally and personally, allowing you to reap the benefits of your hard work over the years. ### Peter A. Rohr is a Managing Director-Investments and Private Wealth Advisor with the Private Banking and Investment Group at Merrill Lynch which operates through Merrill Lynch, Pierce, Fenner & Smith, Incorporated, a registered broker-dealer and Member SIPC. He can be reached in Philadelphia at (215) 587-4731 or peter_rohr@ml.com.    ]]> http://www.physiciansnews.com/2011/08/09/keeping-your-investments-on-track-throughout-your-career/feed/ 0 New Blood Glucose Monitor System for Kids Connects to Video Game http://www.physiciansnews.com/2010/04/27/new-blood-glucose-monitor-system-for-kids-connects-to-video-game/ http://www.physiciansnews.com/2010/04/27/new-blood-glucose-monitor-system-for-kids-connects-to-video-game/#comments Tue, 27 Apr 2010 13:06:37 +0000 Physicians News http://www.physiciansnews.com/?p=3207 Bayer Diabetes Care today announced the introduction of the DIDGET™ blood glucose monitoring system in the United States. The DIDGET meter is unique because it is the only blood glucose meter that connects directly to Nintendo DS™ and DS Lite gaming systems to help kids manage a lifelong disease by rewarding them for building consistent testing habits and meeting personalized blood glucose target ranges. Bayer's DIDGET meter is now available for purchase in the U.S. through CVS.com, Drugstore.com and Walgreens.com. Bayer's DIDGET meter links play with purpose for children with diabetes by tapping into kids' existing passion for handheld gaming. The DIDGET meter positively reinforces consistent blood glucose testing habits by awarding points that kids can use to unlock new game levels and customize their gaming experience. "As the first meter truly designed with kids in mind, the DIDGET meter can transform a child's blood sugar testing experience from something they have to do into something they want to do," said Dr. Larry Deeb, pediatric endocrinologist and medical director for the Diabetes Center at Tallahassee Memorial Hospital in Florida and a paid consultant for Bayer. "Regular blood sugar testing is critical for diabetes management and one of the biggest challenges facing parents of kids with diabetes is motivating their kids to develop good testing habits. Bayer's DIDGET meter adds an element of fun and rewards to the routine of testing and, by doing so, helps ease that parent/child tension that testing often creates," he added. Bayer's DIDGET meter is intended for use by kids ages 4-14 and grows with the child's ability to manage their diabetes, offering two testing levels, Basic and Advanced. It comes with Knock 'Em Downs™: World's Fair that includes a full length adventure game and mini game arcade. The DIDGET meter will connect to Bayer's DIDGET™ World (www.bayerdidget.com), a password-protected Web community that is coming soon, where kids can spend points that they earn from consistent monitoring practices and create their own page. The meter is based on Bayer's trusted CONTOUR® system and uses the same technology and CONTOUR test strips, providing the same easy accuracy, No Coding™ technology, no interference with maltose, galactose and oxygen and automatic correction for hematocrit and many common interfering substances (e.g., acetaminophen, ascorbic acid). CONTOUR test strips also feature under fill detection and automatic control solution marking as well as a 5-second test time and small (0.6 mL) sample size. Bayer's DIDGET meter recently received clearance from the U.S. Food and Drug Administration and the blood glucose meter is now available for a suggested retail value of .99 through leading online pharmacies.  For more information, visit www.bayerdidget.com.]]> http://www.physiciansnews.com/2010/04/27/new-blood-glucose-monitor-system-for-kids-connects-to-video-game/feed/ 1 New Health Law Will Require Industry To Disclose Payments To Physicians http://www.physiciansnews.com/2010/04/26/new-health-law-will-require-industry-to-disclose-payments-to-physicians/ http://www.physiciansnews.com/2010/04/26/new-health-law-will-require-industry-to-disclose-payments-to-physicians/#comments Mon, 26 Apr 2010 12:45:31 +0000 Physicians News http://www.physiciansnews.com/?p=3198 By Arlene Weintraub

KHN logo b/w

Doctors who accept speaking fees, five-star meals and other compensation from pharmaceutical or medical device companies will soon see their names – and the value of the gifts they accept – revealed on the Web, under a new federal law that follows several states in drawing attention to such financial benefits.

The experience of one of those states – Vermont – suggests that highlighting the medical industry's largesse may curb the payments.

This month, the attorney general of Vermont – one of three states to require gift disclosures – released data showing that total payments to physicians dropped 13 percent in fiscal 2009 to .6 million. The reporting requirement began in 2002. Consumer advocates have complained that industry compensation can affect a doctor's choice of drugs or treatment and that exposing the doctors will dissuade such behavior. But some consumer groups say that the new law is too narrow in its scope. And it has raised complaints among some doctors, who say the provision will unfairly stain legitimate work they do for industry. The overall dollar value of gifts to Vermont physicians "has been going down steadily for the last three years," says Wendy Morgan, chief of the state attorney general's public protection division. "I think there are more health care providers who won’t accept gifts." Vermont lawmakers want to make sure of that. Last year they amended the law to ban most gifts outright, including food, which accounted for 0,000 of the 2009 total. The other states with similar legislation, Massachusetts and Minnesota, have also outlawed many forms of corporate gift-giving, although they do allow doctors to accept speaking fees and most product samples. All three states allow research grants. Yet even consumers in those three states will get more detailed information and easier access to the data under the new federal program, which is part of the health overhaul signed into law last month. The Physician Payments Sunshine Act requires companies to begin recording any physician payments that are worth more than in 2012 and to report them on March 31, 2013. That includes stock options, research grants, knickknacks, consulting fees and travel to medical conferences at chi-chi hotels. The details will be posted in a searchable database starting Sept. 30, 2013. The measure is based on a bill that was introduced more than two years ago by Sens. Charles Grassley, R-Iowa, and Herb Kohl, D-Wis. The senators believe that physicians who receive benefits from drug and device makers are more inclined to prescribe the priciest products. "We hope this lowers health care costs and strengthens patient-doctor relationships," says Ashley Glacel, a spokeswoman for the Senate Special Committee on Aging, which spearheaded the original bill. It's not just states that are reporting physicians who are compensated by life-sciences companies. A growing number of pharmaceutical companies, feeling pressured by lawmakers expressing concerns about medical conflicts of interest, are also listing physician payments on the Internet. Most recently, Pfizer released details of million in payments that it made to doctors in the second half of 2009. Some industry critics gripe that the federal law has too many loopholes. It only applies to physicians and teaching hospitals, for example. Companies won't have to report payments they make to nurses, physician assistants, and other medical professionals who might influence which products are prescribed. "If any marketing avenue is not regulated, companies will find a way to exploit it," predicts Dr. Daniel Carlat, a psychiatrist and associate professor at Tufts Medical School. Carlat was once a speaker for Wyeth but quit over concerns about how to deal with a depression drug’s side effects. "I expect we’ll see a lot more nurse practitioners giving hired-gun talks," he says. In Vermont, corporate payouts to nurses totaled 8,000 in 2009—almost triple the amount they received the previous year. Some physicians opposed federal and state efforts to limit physician-industry relationships because they fear it will impede innovation. "The use of the term 'sunshine' has an implicit aura of corruption," says Dr. Thomas Stossel, a professor of medicine at Harvard. Last year, Stossel co-founded the Association of Clinical Researchers and Educators, which promotes collaboration between physicians and industry to create better products. Stossel has accepted speaking and consulting fees from companies such as Merck and Pfizer, and he says he's not opposed to his name appearing in corporate disclosures. But he does believe concerns about relationships between companies and doctors have been overblown. "What's wrong with a company buying me lunch or giving me a tote bag?" he asks.

Other physicians acknowledge that donations from industry – even small ones – can create conflicts of interest. "There is extensive literature suggesting that gifts can influence behavior," says Dr. Robert Steinbrook, adjunct professor of medicine at Dartmouth Medical School.

That evidence prompted the National Academy of Science's Institute of Medicine to issue a report last year endorsing the elimination of all physician-industry relationships that might unduly influence prescribing behavior.

While the new federal law stops short of banning gifts, it does promise to increase the public's understanding of how companies interact with physicians. Rather than simply listing names and dollar amounts, the federal database will include explanations of what services the physicians provided in return for the payments. And drop-down menus will make it simple for patients to parse the data by name, type of gift received, and other specifics.

As a result, "the legislation will allow us to analyze the data in ways that are meaningful," says Jerome P. Kassirer, a professor at Tufts University School of Medicine and author of "On the Take," a book about physicians' financial relationships with companies. That will be especially useful for patients facing hip or knee replacements, or other procedures involving expensive medical devices, Kassirer adds. "They’ll be able to determine whether their doctors are heavily invested in the companies making the devices," he says.

Research suggests that those details matter to some patients. Kevin P. Weinfurt, an associate professor of psychology and neuroscience at Duke University, has studied how patients participating in clinical trials react to physician disclosures. He found that patients were particularly troubled when doctors owned stock in the companies that were managing the clinical trials. "They felt somehow that this physician could do something in the trial that could make the company a lot of money, which would then make him a lot of money," Weinfurt says.

Industry groups representing pharmaceutical and medical-device makers have supported the federal provisions on physician disclosures.

"This knowledge will give the public greater confidence in the nature of the relationships" between companies and physicians, says David Nexon, senior executive vice president of AdvaMed, a trade association of medical device makers. "We have nothing to hide."

This article was reprinted from kaiserhealthnews.org with permission from the Henry J. Kaiser Family Foundation. Kaiser Health News, an editorially independent news service, is a program of the Kaiser Family Foundation, a nonpartisan health care policy research organization unaffiliated with Kaiser Permanente.]]> http://www.physiciansnews.com/2010/04/26/new-health-law-will-require-industry-to-disclose-payments-to-physicians/feed/ 1 Abstract: Coffee consumption and risk of lethal and advanced prostate cancer. http://www.physiciansnews.com/2009/12/09/abstract-coffee-consumption-and-risk-of-lethal-and-advanced-prostate-cancer/ http://www.physiciansnews.com/2009/12/09/abstract-coffee-consumption-and-risk-of-lethal-and-advanced-prostate-cancer/#comments Wed, 09 Dec 2009 12:57:29 +0000 Physicians News http://www.physiciansnews.com/?p=2822 http://www.physiciansnews.com/2009/12/09/abstract-coffee-consumption-and-risk-of-lethal-and-advanced-prostate-cancer/feed/ 0 Temple U: iPods Help Docs Improve Stethoscope Skills http://www.physiciansnews.com Tue, 07 Feb 2012 16:44:06 +0000 en hourly 1 http://wordpress.org/?v=3.2.1 Physicians News » Uncategorized http://www.physiciansnews.com Tue, 07 Feb 2012 16:44:06 +0000 en hourly 1 http://wordpress.org/?v=3.2.1 Keeping Your Investments on Track throughout Your Career http://www.physiciansnews.com/2011/08/09/keeping-your-investments-on-track-throughout-your-career/ http://www.physiciansnews.com/2011/08/09/keeping-your-investments-on-track-throughout-your-career/#comments Tue, 09 Aug 2011 23:50:22 +0000 Physicians News http://www.physiciansnews.com/?p=4209 By Peter Rohr Physicians, much like lawyers and business leaders, face different financial needs as they progress through their career. From finishing medical school to joining a practice, having years of productivity and ultimately retiring, each phase presents its own set of unique financial needs and challenges. However, a common thread is evident through each phase; it’s never too early to start planning for your financial future to help ensure long-term success. Strategizing Debt and Saving for Your Future Although six years of medical school tuition is an investment with good return over the long-term, many recent graduates find themselves battling sky-high student loans. Thus, it’s important to have a strategy in place for tackling debt post-graduation. Your financial advisor can ensure that your financial strategy takes into account the debt that you must pay down, while allowing you to meet your other short-term financial needs, positioning you for long-term financial growth. As you are establishing your career, it is also important to think ahead to your future and start saving for retirement. One way to do this is to take advantage of the retirement contribution program and benefits made available through your practice. Everyone’s risk tolerance and budgetary needs are different, so work with your financial advisor to find the most appropriate way for you to pay down debt, and the right asset allocation to help you invest for the future. Of course, asset allocation does not assure a profit or protect against loss in declining markets.  Remember, investment products are not FDIC-insured, not bank guaranteed and may lose money. Building Your Career – and Financial Security For physicians focused on building their practice, personal time can be hard to come by. But paying close attention to your finances throughout your career is critical to achieving your long-term goals, and a financial advisor can help you stay focused and on-track. Indeed, according to the January 2011 Merrill Lynch Affluent Insights Survey (MLAIS), when asked the number one piece of long-term saving and investing advice they would give their 30-year-old-self, 34 percent of affluent Philadelphians recommended working with a financial advisor or working with one earlier in life. The highly demanding life of a physician leaves little time to think about the importance of a financial portfolio and ways to balance expenses with other financial obligations. While furthering your career, you may also be raising a young family, saving for a child’s education, looking to buy a second home, and traveling.  In order to plan properly, it’s important to incorporate all of these expenses into your overall financial strategy. As with tending to your personal finances, it is also important to create a balanced financial strategy for your practice. You need to consider how to balance the budget in order to support the medical associates who have joined your group, all the while keeping in mind the long-term plans for the practice. Creating a budget and setting financial goals, for both your personal and professional life, can help you prioritize your financial needs and set a foundation for your financial future. Working together with a professional who understands your financial concerns and priorities, and who can help guide your overall financial strategy, will allow you to focus on your career aspirations. Planning for a Transition Transitioning out of the practice can be intimidating and emotional for physicians – but the earlier you plan, the smoother the path can be. Consider your options a few years before you are ready to pass the baton – who will take the reins?  Passing your practice to trusted younger physicians can help you feel that your legacy will be in good hands. Consider how involved you will be in the practice during your last years practicing and how you would like to the transition to occur.  There is no need for an abrupt exit; the transition into retirement can be a gradual process that takes place over time. With retirement on the horizon, creating a strategy that best meets the needs of your practice as well as of your personal finances will allow you to gracefully transition into your future. Retirement Your Way According to the MLAIS, 88 percent of Philadelphia’s affluent believe their retirement will differ from that of their parents. In fact, more than half plan to continue working during what would normally be considered their retirement years, and 30 percent plan to relocate to another city. This suggests that for many, “retirement” may be an active time, full of adventure, education – possibly even a second career. And this requires careful planning in terms of finances.  Put a strategy in place and start putting money away for retirement early. As you get deeper into your career, set specific goals for investing – consider how much you’ll need to live the lifestyle you want, and what your personal goals will be during these years. In order to live the retirement life you have dreamed of, it’s important to plan early. In addition to planning ahead in order to support your lifestyle in retirement, it’s important to consider unforeseen expenses that may arise when developing your financial strategy. For example, as a physician you spend your career focusing on healthcare for others, but it is also important to consider your own healthcare needs during retirement.  According to the U.S. Department of Health and Human Services, 70 percent of people older than 65 will eventually need some sort of long-term care. In order to be prepared, your financial advisor can help you understand the options available to maximize your payments during retirement. No matter what phase of your career you are in, it’s never too late to start planning for the next step. Working closely with a financial advisor as you transition through each stage of your career can help you develop a sound financial  roadmap for your future, both professionally and personally, allowing you to reap the benefits of your hard work over the years. ### Peter A. Rohr is a Managing Director-Investments and Private Wealth Advisor with the Private Banking and Investment Group at Merrill Lynch which operates through Merrill Lynch, Pierce, Fenner & Smith, Incorporated, a registered broker-dealer and Member SIPC. He can be reached in Philadelphia at (215) 587-4731 or peter_rohr@ml.com.    ]]> http://www.physiciansnews.com/2011/08/09/keeping-your-investments-on-track-throughout-your-career/feed/ 0 New Blood Glucose Monitor System for Kids Connects to Video Game http://www.physiciansnews.com/2010/04/27/new-blood-glucose-monitor-system-for-kids-connects-to-video-game/ http://www.physiciansnews.com/2010/04/27/new-blood-glucose-monitor-system-for-kids-connects-to-video-game/#comments Tue, 27 Apr 2010 13:06:37 +0000 Physicians News http://www.physiciansnews.com/?p=3207 Bayer Diabetes Care today announced the introduction of the DIDGET™ blood glucose monitoring system in the United States. The DIDGET meter is unique because it is the only blood glucose meter that connects directly to Nintendo DS™ and DS Lite gaming systems to help kids manage a lifelong disease by rewarding them for building consistent testing habits and meeting personalized blood glucose target ranges. Bayer's DIDGET meter is now available for purchase in the U.S. through CVS.com, Drugstore.com and Walgreens.com. Bayer's DIDGET meter links play with purpose for children with diabetes by tapping into kids' existing passion for handheld gaming. The DIDGET meter positively reinforces consistent blood glucose testing habits by awarding points that kids can use to unlock new game levels and customize their gaming experience. "As the first meter truly designed with kids in mind, the DIDGET meter can transform a child's blood sugar testing experience from something they have to do into something they want to do," said Dr. Larry Deeb, pediatric endocrinologist and medical director for the Diabetes Center at Tallahassee Memorial Hospital in Florida and a paid consultant for Bayer. "Regular blood sugar testing is critical for diabetes management and one of the biggest challenges facing parents of kids with diabetes is motivating their kids to develop good testing habits. Bayer's DIDGET meter adds an element of fun and rewards to the routine of testing and, by doing so, helps ease that parent/child tension that testing often creates," he added. Bayer's DIDGET meter is intended for use by kids ages 4-14 and grows with the child's ability to manage their diabetes, offering two testing levels, Basic and Advanced. It comes with Knock 'Em Downs™: World's Fair that includes a full length adventure game and mini game arcade. The DIDGET meter will connect to Bayer's DIDGET™ World (www.bayerdidget.com), a password-protected Web community that is coming soon, where kids can spend points that they earn from consistent monitoring practices and create their own page. The meter is based on Bayer's trusted CONTOUR® system and uses the same technology and CONTOUR test strips, providing the same easy accuracy, No Coding™ technology, no interference with maltose, galactose and oxygen and automatic correction for hematocrit and many common interfering substances (e.g., acetaminophen, ascorbic acid). CONTOUR test strips also feature under fill detection and automatic control solution marking as well as a 5-second test time and small (0.6 mL) sample size. Bayer's DIDGET meter recently received clearance from the U.S. Food and Drug Administration and the blood glucose meter is now available for a suggested retail value of .99 through leading online pharmacies.  For more information, visit www.bayerdidget.com.]]> http://www.physiciansnews.com/2010/04/27/new-blood-glucose-monitor-system-for-kids-connects-to-video-game/feed/ 1 New Health Law Will Require Industry To Disclose Payments To Physicians http://www.physiciansnews.com/2010/04/26/new-health-law-will-require-industry-to-disclose-payments-to-physicians/ http://www.physiciansnews.com/2010/04/26/new-health-law-will-require-industry-to-disclose-payments-to-physicians/#comments Mon, 26 Apr 2010 12:45:31 +0000 Physicians News http://www.physiciansnews.com/?p=3198 By Arlene Weintraub

KHN logo b/w

Doctors who accept speaking fees, five-star meals and other compensation from pharmaceutical or medical device companies will soon see their names – and the value of the gifts they accept – revealed on the Web, under a new federal law that follows several states in drawing attention to such financial benefits.

The experience of one of those states – Vermont – suggests that highlighting the medical industry's largesse may curb the payments.

This month, the attorney general of Vermont – one of three states to require gift disclosures – released data showing that total payments to physicians dropped 13 percent in fiscal 2009 to .6 million. The reporting requirement began in 2002. Consumer advocates have complained that industry compensation can affect a doctor's choice of drugs or treatment and that exposing the doctors will dissuade such behavior. But some consumer groups say that the new law is too narrow in its scope. And it has raised complaints among some doctors, who say the provision will unfairly stain legitimate work they do for industry. The overall dollar value of gifts to Vermont physicians "has been going down steadily for the last three years," says Wendy Morgan, chief of the state attorney general's public protection division. "I think there are more health care providers who won’t accept gifts." Vermont lawmakers want to make sure of that. Last year they amended the law to ban most gifts outright, including food, which accounted for 0,000 of the 2009 total. The other states with similar legislation, Massachusetts and Minnesota, have also outlawed many forms of corporate gift-giving, although they do allow doctors to accept speaking fees and most product samples. All three states allow research grants. Yet even consumers in those three states will get more detailed information and easier access to the data under the new federal program, which is part of the health overhaul signed into law last month. The Physician Payments Sunshine Act requires companies to begin recording any physician payments that are worth more than in 2012 and to report them on March 31, 2013. That includes stock options, research grants, knickknacks, consulting fees and travel to medical conferences at chi-chi hotels. The details will be posted in a searchable database starting Sept. 30, 2013. The measure is based on a bill that was introduced more than two years ago by Sens. Charles Grassley, R-Iowa, and Herb Kohl, D-Wis. The senators believe that physicians who receive benefits from drug and device makers are more inclined to prescribe the priciest products. "We hope this lowers health care costs and strengthens patient-doctor relationships," says Ashley Glacel, a spokeswoman for the Senate Special Committee on Aging, which spearheaded the original bill. It's not just states that are reporting physicians who are compensated by life-sciences companies. A growing number of pharmaceutical companies, feeling pressured by lawmakers expressing concerns about medical conflicts of interest, are also listing physician payments on the Internet. Most recently, Pfizer released details of million in payments that it made to doctors in the second half of 2009. Some industry critics gripe that the federal law has too many loopholes. It only applies to physicians and teaching hospitals, for example. Companies won't have to report payments they make to nurses, physician assistants, and other medical professionals who might influence which products are prescribed. "If any marketing avenue is not regulated, companies will find a way to exploit it," predicts Dr. Daniel Carlat, a psychiatrist and associate professor at Tufts Medical School. Carlat was once a speaker for Wyeth but quit over concerns about how to deal with a depression drug’s side effects. "I expect we’ll see a lot more nurse practitioners giving hired-gun talks," he says. In Vermont, corporate payouts to nurses totaled 8,000 in 2009—almost triple the amount they received the previous year. Some physicians opposed federal and state efforts to limit physician-industry relationships because they fear it will impede innovation. "The use of the term 'sunshine' has an implicit aura of corruption," says Dr. Thomas Stossel, a professor of medicine at Harvard. Last year, Stossel co-founded the Association of Clinical Researchers and Educators, which promotes collaboration between physicians and industry to create better products. Stossel has accepted speaking and consulting fees from companies such as Merck and Pfizer, and he says he's not opposed to his name appearing in corporate disclosures. But he does believe concerns about relationships between companies and doctors have been overblown. "What's wrong with a company buying me lunch or giving me a tote bag?" he asks.

Other physicians acknowledge that donations from industry – even small ones – can create conflicts of interest. "There is extensive literature suggesting that gifts can influence behavior," says Dr. Robert Steinbrook, adjunct professor of medicine at Dartmouth Medical School.

That evidence prompted the National Academy of Science's Institute of Medicine to issue a report last year endorsing the elimination of all physician-industry relationships that might unduly influence prescribing behavior.

While the new federal law stops short of banning gifts, it does promise to increase the public's understanding of how companies interact with physicians. Rather than simply listing names and dollar amounts, the federal database will include explanations of what services the physicians provided in return for the payments. And drop-down menus will make it simple for patients to parse the data by name, type of gift received, and other specifics.

As a result, "the legislation will allow us to analyze the data in ways that are meaningful," says Jerome P. Kassirer, a professor at Tufts University School of Medicine and author of "On the Take," a book about physicians' financial relationships with companies. That will be especially useful for patients facing hip or knee replacements, or other procedures involving expensive medical devices, Kassirer adds. "They’ll be able to determine whether their doctors are heavily invested in the companies making the devices," he says.

Research suggests that those details matter to some patients. Kevin P. Weinfurt, an associate professor of psychology and neuroscience at Duke University, has studied how patients participating in clinical trials react to physician disclosures. He found that patients were particularly troubled when doctors owned stock in the companies that were managing the clinical trials. "They felt somehow that this physician could do something in the trial that could make the company a lot of money, which would then make him a lot of money," Weinfurt says.

Industry groups representing pharmaceutical and medical-device makers have supported the federal provisions on physician disclosures.

"This knowledge will give the public greater confidence in the nature of the relationships" between companies and physicians, says David Nexon, senior executive vice president of AdvaMed, a trade association of medical device makers. "We have nothing to hide."

This article was reprinted from kaiserhealthnews.org with permission from the Henry J. Kaiser Family Foundation. Kaiser Health News, an editorially independent news service, is a program of the Kaiser Family Foundation, a nonpartisan health care policy research organization unaffiliated with Kaiser Permanente.]]> http://www.physiciansnews.com/2010/04/26/new-health-law-will-require-industry-to-disclose-payments-to-physicians/feed/ 1 Abstract: Coffee consumption and risk of lethal and advanced prostate cancer. http://www.physiciansnews.com/2009/12/09/abstract-coffee-consumption-and-risk-of-lethal-and-advanced-prostate-cancer/ http://www.physiciansnews.com/2009/12/09/abstract-coffee-consumption-and-risk-of-lethal-and-advanced-prostate-cancer/#comments Wed, 09 Dec 2009 12:57:29 +0000 Physicians News http://www.physiciansnews.com/?p=2822 http://www.physiciansnews.com/2009/12/09/abstract-coffee-consumption-and-risk-of-lethal-and-advanced-prostate-cancer/feed/ 0 Temple U: iPods Help Docs Improve Stethoscope Skills http://www.physiciansnews.com/2011/08/09/keeping-your-investments-on-track-throughout-your-career/ http://www.physiciansnews.com/2011/08/09/keeping-your-investments-on-track-throughout-your-career/#comments Tue, 09 Aug 2011 23:50:22 +0000 Physicians News http://www.physiciansnews.com/?p=4209 By Peter Rohr Physicians, much like lawyers and business leaders, face different financial needs as they progress through their career. From finishing medical school to joining a practice, having years of productivity and ultimately retiring, each phase presents its own set of unique financial needs and challenges. However, a common thread is evident through each phase; it’s never too early to start planning for your financial future to help ensure long-term success. Strategizing Debt and Saving for Your Future Although six years of medical school tuition is an investment with good return over the long-term, many recent graduates find themselves battling sky-high student loans. Thus, it’s important to have a strategy in place for tackling debt post-graduation. Your financial advisor can ensure that your financial strategy takes into account the debt that you must pay down, while allowing you to meet your other short-term financial needs, positioning you for long-term financial growth. As you are establishing your career, it is also important to think ahead to your future and start saving for retirement. One way to do this is to take advantage of the retirement contribution program and benefits made available through your practice. Everyone’s risk tolerance and budgetary needs are different, so work with your financial advisor to find the most appropriate way for you to pay down debt, and the right asset allocation to help you invest for the future. Of course, asset allocation does not assure a profit or protect against loss in declining markets.  Remember, investment products are not FDIC-insured, not bank guaranteed and may lose money. Building Your Career – and Financial Security For physicians focused on building their practice, personal time can be hard to come by. But paying close attention to your finances throughout your career is critical to achieving your long-term goals, and a financial advisor can help you stay focused and on-track. Indeed, according to the January 2011 Merrill Lynch Affluent Insights Survey (MLAIS), when asked the number one piece of long-term saving and investing advice they would give their 30-year-old-self, 34 percent of affluent Philadelphians recommended working with a financial advisor or working with one earlier in life. The highly demanding life of a physician leaves little time to think about the importance of a financial portfolio and ways to balance expenses with other financial obligations. While furthering your career, you may also be raising a young family, saving for a child’s education, looking to buy a second home, and traveling.  In order to plan properly, it’s important to incorporate all of these expenses into your overall financial strategy. As with tending to your personal finances, it is also important to create a balanced financial strategy for your practice. You need to consider how to balance the budget in order to support the medical associates who have joined your group, all the while keeping in mind the long-term plans for the practice. Creating a budget and setting financial goals, for both your personal and professional life, can help you prioritize your financial needs and set a foundation for your financial future. Working together with a professional who understands your financial concerns and priorities, and who can help guide your overall financial strategy, will allow you to focus on your career aspirations. Planning for a Transition Transitioning out of the practice can be intimidating and emotional for physicians – but the earlier you plan, the smoother the path can be. Consider your options a few years before you are ready to pass the baton – who will take the reins?  Passing your practice to trusted younger physicians can help you feel that your legacy will be in good hands. Consider how involved you will be in the practice during your last years practicing and how you would like to the transition to occur.  There is no need for an abrupt exit; the transition into retirement can be a gradual process that takes place over time. With retirement on the horizon, creating a strategy that best meets the needs of your practice as well as of your personal finances will allow you to gracefully transition into your future. Retirement Your Way According to the MLAIS, 88 percent of Philadelphia’s affluent believe their retirement will differ from that of their parents. In fact, more than half plan to continue working during what would normally be considered their retirement years, and 30 percent plan to relocate to another city. This suggests that for many, “retirement” may be an active time, full of adventure, education – possibly even a second career. And this requires careful planning in terms of finances.  Put a strategy in place and start putting money away for retirement early. As you get deeper into your career, set specific goals for investing – consider how much you’ll need to live the lifestyle you want, and what your personal goals will be during these years. In order to live the retirement life you have dreamed of, it’s important to plan early. In addition to planning ahead in order to support your lifestyle in retirement, it’s important to consider unforeseen expenses that may arise when developing your financial strategy. For example, as a physician you spend your career focusing on healthcare for others, but it is also important to consider your own healthcare needs during retirement.  According to the U.S. Department of Health and Human Services, 70 percent of people older than 65 will eventually need some sort of long-term care. In order to be prepared, your financial advisor can help you understand the options available to maximize your payments during retirement. No matter what phase of your career you are in, it’s never too late to start planning for the next step. Working closely with a financial advisor as you transition through each stage of your career can help you develop a sound financial  roadmap for your future, both professionally and personally, allowing you to reap the benefits of your hard work over the years. ### Peter A. Rohr is a Managing Director-Investments and Private Wealth Advisor with the Private Banking and Investment Group at Merrill Lynch which operates through Merrill Lynch, Pierce, Fenner & Smith, Incorporated, a registered broker-dealer and Member SIPC. He can be reached in Philadelphia at (215) 587-4731 or peter_rohr@ml.com.    ]]> http://www.physiciansnews.com/2011/08/09/keeping-your-investments-on-track-throughout-your-career/feed/ 0 Physicians News » Uncategorized http://www.physiciansnews.com Tue, 07 Feb 2012 16:44:06 +0000 en hourly 1 http://wordpress.org/?v=3.2.1 Keeping Your Investments on Track throughout Your Career http://www.physiciansnews.com/2011/08/09/keeping-your-investments-on-track-throughout-your-career/ http://www.physiciansnews.com/2011/08/09/keeping-your-investments-on-track-throughout-your-career/#comments Tue, 09 Aug 2011 23:50:22 +0000 Physicians News http://www.physiciansnews.com/?p=4209 By Peter Rohr Physicians, much like lawyers and business leaders, face different financial needs as they progress through their career. From finishing medical school to joining a practice, having years of productivity and ultimately retiring, each phase presents its own set of unique financial needs and challenges. However, a common thread is evident through each phase; it’s never too early to start planning for your financial future to help ensure long-term success. Strategizing Debt and Saving for Your Future Although six years of medical school tuition is an investment with good return over the long-term, many recent graduates find themselves battling sky-high student loans. Thus, it’s important to have a strategy in place for tackling debt post-graduation. Your financial advisor can ensure that your financial strategy takes into account the debt that you must pay down, while allowing you to meet your other short-term financial needs, positioning you for long-term financial growth. As you are establishing your career, it is also important to think ahead to your future and start saving for retirement. One way to do this is to take advantage of the retirement contribution program and benefits made available through your practice. Everyone’s risk tolerance and budgetary needs are different, so work with your financial advisor to find the most appropriate way for you to pay down debt, and the right asset allocation to help you invest for the future. Of course, asset allocation does not assure a profit or protect against loss in declining markets.  Remember, investment products are not FDIC-insured, not bank guaranteed and may lose money. Building Your Career – and Financial Security For physicians focused on building their practice, personal time can be hard to come by. But paying close attention to your finances throughout your career is critical to achieving your long-term goals, and a financial advisor can help you stay focused and on-track. Indeed, according to the January 2011 Merrill Lynch Affluent Insights Survey (MLAIS), when asked the number one piece of long-term saving and investing advice they would give their 30-year-old-self, 34 percent of affluent Philadelphians recommended working with a financial advisor or working with one earlier in life. The highly demanding life of a physician leaves little time to think about the importance of a financial portfolio and ways to balance expenses with other financial obligations. While furthering your career, you may also be raising a young family, saving for a child’s education, looking to buy a second home, and traveling.  In order to plan properly, it’s important to incorporate all of these expenses into your overall financial strategy. As with tending to your personal finances, it is also important to create a balanced financial strategy for your practice. You need to consider how to balance the budget in order to support the medical associates who have joined your group, all the while keeping in mind the long-term plans for the practice. Creating a budget and setting financial goals, for both your personal and professional life, can help you prioritize your financial needs and set a foundation for your financial future. Working together with a professional who understands your financial concerns and priorities, and who can help guide your overall financial strategy, will allow you to focus on your career aspirations. Planning for a Transition Transitioning out of the practice can be intimidating and emotional for physicians – but the earlier you plan, the smoother the path can be. Consider your options a few years before you are ready to pass the baton – who will take the reins?  Passing your practice to trusted younger physicians can help you feel that your legacy will be in good hands. Consider how involved you will be in the practice during your last years practicing and how you would like to the transition to occur.  There is no need for an abrupt exit; the transition into retirement can be a gradual process that takes place over time. With retirement on the horizon, creating a strategy that best meets the needs of your practice as well as of your personal finances will allow you to gracefully transition into your future. Retirement Your Way According to the MLAIS, 88 percent of Philadelphia’s affluent believe their retirement will differ from that of their parents. In fact, more than half plan to continue working during what would normally be considered their retirement years, and 30 percent plan to relocate to another city. This suggests that for many, “retirement” may be an active time, full of adventure, education – possibly even a second career. And this requires careful planning in terms of finances.  Put a strategy in place and start putting money away for retirement early. As you get deeper into your career, set specific goals for investing – consider how much you’ll need to live the lifestyle you want, and what your personal goals will be during these years. In order to live the retirement life you have dreamed of, it’s important to plan early. In addition to planning ahead in order to support your lifestyle in retirement, it’s important to consider unforeseen expenses that may arise when developing your financial strategy. For example, as a physician you spend your career focusing on healthcare for others, but it is also important to consider your own healthcare needs during retirement.  According to the U.S. Department of Health and Human Services, 70 percent of people older than 65 will eventually need some sort of long-term care. In order to be prepared, your financial advisor can help you understand the options available to maximize your payments during retirement. No matter what phase of your career you are in, it’s never too late to start planning for the next step. Working closely with a financial advisor as you transition through each stage of your career can help you develop a sound financial  roadmap for your future, both professionally and personally, allowing you to reap the benefits of your hard work over the years. ### Peter A. Rohr is a Managing Director-Investments and Private Wealth Advisor with the Private Banking and Investment Group at Merrill Lynch which operates through Merrill Lynch, Pierce, Fenner & Smith, Incorporated, a registered broker-dealer and Member SIPC. He can be reached in Philadelphia at (215) 587-4731 or peter_rohr@ml.com.    ]]> http://www.physiciansnews.com/2011/08/09/keeping-your-investments-on-track-throughout-your-career/feed/ 0 New Blood Glucose Monitor System for Kids Connects to Video Game http://www.physiciansnews.com/2010/04/27/new-blood-glucose-monitor-system-for-kids-connects-to-video-game/ http://www.physiciansnews.com/2010/04/27/new-blood-glucose-monitor-system-for-kids-connects-to-video-game/#comments Tue, 27 Apr 2010 13:06:37 +0000 Physicians News http://www.physiciansnews.com/?p=3207 Bayer Diabetes Care today announced the introduction of the DIDGET™ blood glucose monitoring system in the United States. The DIDGET meter is unique because it is the only blood glucose meter that connects directly to Nintendo DS™ and DS Lite gaming systems to help kids manage a lifelong disease by rewarding them for building consistent testing habits and meeting personalized blood glucose target ranges. Bayer's DIDGET meter is now available for purchase in the U.S. through CVS.com, Drugstore.com and Walgreens.com. Bayer's DIDGET meter links play with purpose for children with diabetes by tapping into kids' existing passion for handheld gaming. The DIDGET meter positively reinforces consistent blood glucose testing habits by awarding points that kids can use to unlock new game levels and customize their gaming experience. "As the first meter truly designed with kids in mind, the DIDGET meter can transform a child's blood sugar testing experience from something they have to do into something they want to do," said Dr. Larry Deeb, pediatric endocrinologist and medical director for the Diabetes Center at Tallahassee Memorial Hospital in Florida and a paid consultant for Bayer. "Regular blood sugar testing is critical for diabetes management and one of the biggest challenges facing parents of kids with diabetes is motivating their kids to develop good testing habits. Bayer's DIDGET meter adds an element of fun and rewards to the routine of testing and, by doing so, helps ease that parent/child tension that testing often creates," he added. Bayer's DIDGET meter is intended for use by kids ages 4-14 and grows with the child's ability to manage their diabetes, offering two testing levels, Basic and Advanced. It comes with Knock 'Em Downs™: World's Fair that includes a full length adventure game and mini game arcade. The DIDGET meter will connect to Bayer's DIDGET™ World (www.bayerdidget.com), a password-protected Web community that is coming soon, where kids can spend points that they earn from consistent monitoring practices and create their own page. The meter is based on Bayer's trusted CONTOUR® system and uses the same technology and CONTOUR test strips, providing the same easy accuracy, No Coding™ technology, no interference with maltose, galactose and oxygen and automatic correction for hematocrit and many common interfering substances (e.g., acetaminophen, ascorbic acid). CONTOUR test strips also feature under fill detection and automatic control solution marking as well as a 5-second test time and small (0.6 mL) sample size. Bayer's DIDGET meter recently received clearance from the U.S. Food and Drug Administration and the blood glucose meter is now available for a suggested retail value of .99 through leading online pharmacies.  For more information, visit www.bayerdidget.com.]]> http://www.physiciansnews.com/2010/04/27/new-blood-glucose-monitor-system-for-kids-connects-to-video-game/feed/ 1 New Health Law Will Require Industry To Disclose Payments To Physicians http://www.physiciansnews.com/2010/04/26/new-health-law-will-require-industry-to-disclose-payments-to-physicians/ http://www.physiciansnews.com/2010/04/26/new-health-law-will-require-industry-to-disclose-payments-to-physicians/#comments Mon, 26 Apr 2010 12:45:31 +0000 Physicians News http://www.physiciansnews.com/?p=3198 By Arlene Weintraub

KHN logo b/w

Doctors who accept speaking fees, five-star meals and other compensation from pharmaceutical or medical device companies will soon see their names – and the value of the gifts they accept – revealed on the Web, under a new federal law that follows several states in drawing attention to such financial benefits.

The experience of one of those states – Vermont – suggests that highlighting the medical industry's largesse may curb the payments.

This month, the attorney general of Vermont – one of three states to require gift disclosures – released data showing that total payments to physicians dropped 13 percent in fiscal 2009 to .6 million. The reporting requirement began in 2002. Consumer advocates have complained that industry compensation can affect a doctor's choice of drugs or treatment and that exposing the doctors will dissuade such behavior. But some consumer groups say that the new law is too narrow in its scope. And it has raised complaints among some doctors, who say the provision will unfairly stain legitimate work they do for industry. The overall dollar value of gifts to Vermont physicians "has been going down steadily for the last three years," says Wendy Morgan, chief of the state attorney general's public protection division. "I think there are more health care providers who won’t accept gifts." Vermont lawmakers want to make sure of that. Last year they amended the law to ban most gifts outright, including food, which accounted for 0,000 of the 2009 total. The other states with similar legislation, Massachusetts and Minnesota, have also outlawed many forms of corporate gift-giving, although they do allow doctors to accept speaking fees and most product samples. All three states allow research grants. Yet even consumers in those three states will get more detailed information and easier access to the data under the new federal program, which is part of the health overhaul signed into law last month. The Physician Payments Sunshine Act requires companies to begin recording any physician payments that are worth more than in 2012 and to report them on March 31, 2013. That includes stock options, research grants, knickknacks, consulting fees and travel to medical conferences at chi-chi hotels. The details will be posted in a searchable database starting Sept. 30, 2013. The measure is based on a bill that was introduced more than two years ago by Sens. Charles Grassley, R-Iowa, and Herb Kohl, D-Wis. The senators believe that physicians who receive benefits from drug and device makers are more inclined to prescribe the priciest products. "We hope this lowers health care costs and strengthens patient-doctor relationships," says Ashley Glacel, a spokeswoman for the Senate Special Committee on Aging, which spearheaded the original bill. It's not just states that are reporting physicians who are compensated by life-sciences companies. A growing number of pharmaceutical companies, feeling pressured by lawmakers expressing concerns about medical conflicts of interest, are also listing physician payments on the Internet. Most recently, Pfizer released details of million in payments that it made to doctors in the second half of 2009. Some industry critics gripe that the federal law has too many loopholes. It only applies to physicians and teaching hospitals, for example. Companies won't have to report payments they make to nurses, physician assistants, and other medical professionals who might influence which products are prescribed. "If any marketing avenue is not regulated, companies will find a way to exploit it," predicts Dr. Daniel Carlat, a psychiatrist and associate professor at Tufts Medical School. Carlat was once a speaker for Wyeth but quit over concerns about how to deal with a depression drug’s side effects. "I expect we’ll see a lot more nurse practitioners giving hired-gun talks," he says. In Vermont, corporate payouts to nurses totaled 8,000 in 2009—almost triple the amount they received the previous year. Some physicians opposed federal and state efforts to limit physician-industry relationships because they fear it will impede innovation. "The use of the term 'sunshine' has an implicit aura of corruption," says Dr. Thomas Stossel, a professor of medicine at Harvard. Last year, Stossel co-founded the Association of Clinical Researchers and Educators, which promotes collaboration between physicians and industry to create better products. Stossel has accepted speaking and consulting fees from companies such as Merck and Pfizer, and he says he's not opposed to his name appearing in corporate disclosures. But he does believe concerns about relationships between companies and doctors have been overblown. "What's wrong with a company buying me lunch or giving me a tote bag?" he asks.

Other physicians acknowledge that donations from industry – even small ones – can create conflicts of interest. "There is extensive literature suggesting that gifts can influence behavior," says Dr. Robert Steinbrook, adjunct professor of medicine at Dartmouth Medical School.

That evidence prompted the National Academy of Science's Institute of Medicine to issue a report last year endorsing the elimination of all physician-industry relationships that might unduly influence prescribing behavior.

While the new federal law stops short of banning gifts, it does promise to increase the public's understanding of how companies interact with physicians. Rather than simply listing names and dollar amounts, the federal database will include explanations of what services the physicians provided in return for the payments. And drop-down menus will make it simple for patients to parse the data by name, type of gift received, and other specifics.

As a result, "the legislation will allow us to analyze the data in ways that are meaningful," says Jerome P. Kassirer, a professor at Tufts University School of Medicine and author of "On the Take," a book about physicians' financial relationships with companies. That will be especially useful for patients facing hip or knee replacements, or other procedures involving expensive medical devices, Kassirer adds. "They’ll be able to determine whether their doctors are heavily invested in the companies making the devices," he says.

Research suggests that those details matter to some patients. Kevin P. Weinfurt, an associate professor of psychology and neuroscience at Duke University, has studied how patients participating in clinical trials react to physician disclosures. He found that patients were particularly troubled when doctors owned stock in the companies that were managing the clinical trials. "They felt somehow that this physician could do something in the trial that could make the company a lot of money, which would then make him a lot of money," Weinfurt says.

Industry groups representing pharmaceutical and medical-device makers have supported the federal provisions on physician disclosures.

"This knowledge will give the public greater confidence in the nature of the relationships" between companies and physicians, says David Nexon, senior executive vice president of AdvaMed, a trade association of medical device makers. "We have nothing to hide."

This article was reprinted from kaiserhealthnews.org with permission from the Henry J. Kaiser Family Foundation. Kaiser Health News, an editorially independent news service, is a program of the Kaiser Family Foundation, a nonpartisan health care policy research organization unaffiliated with Kaiser Permanente.]]> http://www.physiciansnews.com/2010/04/26/new-health-law-will-require-industry-to-disclose-payments-to-physicians/feed/ 1 Abstract: Coffee consumption and risk of lethal and advanced prostate cancer. http://www.physiciansnews.com/2009/12/09/abstract-coffee-consumption-and-risk-of-lethal-and-advanced-prostate-cancer/ http://www.physiciansnews.com/2009/12/09/abstract-coffee-consumption-and-risk-of-lethal-and-advanced-prostate-cancer/#comments Wed, 09 Dec 2009 12:57:29 +0000 Physicians News http://www.physiciansnews.com/?p=2822 http://www.physiciansnews.com/2009/12/09/abstract-coffee-consumption-and-risk-of-lethal-and-advanced-prostate-cancer/feed/ 0 Temple U: iPods Help Docs Improve Stethoscope Skills http://www.physiciansnews.com/2010/04/27/new-blood-glucose-monitor-system-for-kids-connects-to-video-game/ http://www.physiciansnews.com/2010/04/27/new-blood-glucose-monitor-system-for-kids-connects-to-video-game/#comments Tue, 27 Apr 2010 13:06:37 +0000 Physicians News http://www.physiciansnews.com/?p=3207 Bayer Diabetes Care today announced the introduction of the DIDGET™ blood glucose monitoring system in the United States. The DIDGET meter is unique because it is the only blood glucose meter that connects directly to Nintendo DS™ and DS Lite gaming systems to help kids manage a lifelong disease by rewarding them for building consistent testing habits and meeting personalized blood glucose target ranges. Bayer's DIDGET meter is now available for purchase in the U.S. through CVS.com, Drugstore.com and Walgreens.com. Bayer's DIDGET meter links play with purpose for children with diabetes by tapping into kids' existing passion for handheld gaming. The DIDGET meter positively reinforces consistent blood glucose testing habits by awarding points that kids can use to unlock new game levels and customize their gaming experience. "As the first meter truly designed with kids in mind, the DIDGET meter can transform a child's blood sugar testing experience from something they have to do into something they want to do," said Dr. Larry Deeb, pediatric endocrinologist and medical director for the Diabetes Center at Tallahassee Memorial Hospital in Florida and a paid consultant for Bayer. "Regular blood sugar testing is critical for diabetes management and one of the biggest challenges facing parents of kids with diabetes is motivating their kids to develop good testing habits. Bayer's DIDGET meter adds an element of fun and rewards to the routine of testing and, by doing so, helps ease that parent/child tension that testing often creates," he added. Bayer's DIDGET meter is intended for use by kids ages 4-14 and grows with the child's ability to manage their diabetes, offering two testing levels, Basic and Advanced. It comes with Knock 'Em Downs™: World's Fair that includes a full length adventure game and mini game arcade. The DIDGET meter will connect to Bayer's DIDGET™ World (www.bayerdidget.com), a password-protected Web community that is coming soon, where kids can spend points that they earn from consistent monitoring practices and create their own page. The meter is based on Bayer's trusted CONTOUR® system and uses the same technology and CONTOUR test strips, providing the same easy accuracy, No Coding™ technology, no interference with maltose, galactose and oxygen and automatic correction for hematocrit and many common interfering substances (e.g., acetaminophen, ascorbic acid). CONTOUR test strips also feature under fill detection and automatic control solution marking as well as a 5-second test time and small (0.6 mL) sample size. Bayer's DIDGET meter recently received clearance from the U.S. Food and Drug Administration and the blood glucose meter is now available for a suggested retail value of $74.99 through leading online pharmacies.  For more information, visit www.bayerdidget.com.]]> http://www.physiciansnews.com/2010/04/27/new-blood-glucose-monitor-system-for-kids-connects-to-video-game/feed/ 1 Physicians News » Uncategorized http://www.physiciansnews.com Tue, 07 Feb 2012 16:44:06 +0000 en hourly 1 http://wordpress.org/?v=3.2.1 Keeping Your Investments on Track throughout Your Career http://www.physiciansnews.com/2011/08/09/keeping-your-investments-on-track-throughout-your-career/ http://www.physiciansnews.com/2011/08/09/keeping-your-investments-on-track-throughout-your-career/#comments Tue, 09 Aug 2011 23:50:22 +0000 Physicians News http://www.physiciansnews.com/?p=4209 By Peter Rohr Physicians, much like lawyers and business leaders, face different financial needs as they progress through their career. From finishing medical school to joining a practice, having years of productivity and ultimately retiring, each phase presents its own set of unique financial needs and challenges. However, a common thread is evident through each phase; it’s never too early to start planning for your financial future to help ensure long-term success. Strategizing Debt and Saving for Your Future Although six years of medical school tuition is an investment with good return over the long-term, many recent graduates find themselves battling sky-high student loans. Thus, it’s important to have a strategy in place for tackling debt post-graduation. Your financial advisor can ensure that your financial strategy takes into account the debt that you must pay down, while allowing you to meet your other short-term financial needs, positioning you for long-term financial growth. As you are establishing your career, it is also important to think ahead to your future and start saving for retirement. One way to do this is to take advantage of the retirement contribution program and benefits made available through your practice. Everyone’s risk tolerance and budgetary needs are different, so work with your financial advisor to find the most appropriate way for you to pay down debt, and the right asset allocation to help you invest for the future. Of course, asset allocation does not assure a profit or protect against loss in declining markets.  Remember, investment products are not FDIC-insured, not bank guaranteed and may lose money. Building Your Career – and Financial Security For physicians focused on building their practice, personal time can be hard to come by. But paying close attention to your finances throughout your career is critical to achieving your long-term goals, and a financial advisor can help you stay focused and on-track. Indeed, according to the January 2011 Merrill Lynch Affluent Insights Survey (MLAIS), when asked the number one piece of long-term saving and investing advice they would give their 30-year-old-self, 34 percent of affluent Philadelphians recommended working with a financial advisor or working with one earlier in life. The highly demanding life of a physician leaves little time to think about the importance of a financial portfolio and ways to balance expenses with other financial obligations. While furthering your career, you may also be raising a young family, saving for a child’s education, looking to buy a second home, and traveling.  In order to plan properly, it’s important to incorporate all of these expenses into your overall financial strategy. As with tending to your personal finances, it is also important to create a balanced financial strategy for your practice. You need to consider how to balance the budget in order to support the medical associates who have joined your group, all the while keeping in mind the long-term plans for the practice. Creating a budget and setting financial goals, for both your personal and professional life, can help you prioritize your financial needs and set a foundation for your financial future. Working together with a professional who understands your financial concerns and priorities, and who can help guide your overall financial strategy, will allow you to focus on your career aspirations. Planning for a Transition Transitioning out of the practice can be intimidating and emotional for physicians – but the earlier you plan, the smoother the path can be. Consider your options a few years before you are ready to pass the baton – who will take the reins?  Passing your practice to trusted younger physicians can help you feel that your legacy will be in good hands. Consider how involved you will be in the practice during your last years practicing and how you would like to the transition to occur.  There is no need for an abrupt exit; the transition into retirement can be a gradual process that takes place over time. With retirement on the horizon, creating a strategy that best meets the needs of your practice as well as of your personal finances will allow you to gracefully transition into your future. Retirement Your Way According to the MLAIS, 88 percent of Philadelphia’s affluent believe their retirement will differ from that of their parents. In fact, more than half plan to continue working during what would normally be considered their retirement years, and 30 percent plan to relocate to another city. This suggests that for many, “retirement” may be an active time, full of adventure, education – possibly even a second career. And this requires careful planning in terms of finances.  Put a strategy in place and start putting money away for retirement early. As you get deeper into your career, set specific goals for investing – consider how much you’ll need to live the lifestyle you want, and what your personal goals will be during these years. In order to live the retirement life you have dreamed of, it’s important to plan early. In addition to planning ahead in order to support your lifestyle in retirement, it’s important to consider unforeseen expenses that may arise when developing your financial strategy. For example, as a physician you spend your career focusing on healthcare for others, but it is also important to consider your own healthcare needs during retirement.  According to the U.S. Department of Health and Human Services, 70 percent of people older than 65 will eventually need some sort of long-term care. In order to be prepared, your financial advisor can help you understand the options available to maximize your payments during retirement. No matter what phase of your career you are in, it’s never too late to start planning for the next step. Working closely with a financial advisor as you transition through each stage of your career can help you develop a sound financial  roadmap for your future, both professionally and personally, allowing you to reap the benefits of your hard work over the years. ### Peter A. Rohr is a Managing Director-Investments and Private Wealth Advisor with the Private Banking and Investment Group at Merrill Lynch which operates through Merrill Lynch, Pierce, Fenner & Smith, Incorporated, a registered broker-dealer and Member SIPC. He can be reached in Philadelphia at (215) 587-4731 or peter_rohr@ml.com.    ]]> http://www.physiciansnews.com/2011/08/09/keeping-your-investments-on-track-throughout-your-career/feed/ 0 New Blood Glucose Monitor System for Kids Connects to Video Game http://www.physiciansnews.com/2010/04/27/new-blood-glucose-monitor-system-for-kids-connects-to-video-game/ http://www.physiciansnews.com/2010/04/27/new-blood-glucose-monitor-system-for-kids-connects-to-video-game/#comments Tue, 27 Apr 2010 13:06:37 +0000 Physicians News http://www.physiciansnews.com/?p=3207 Bayer Diabetes Care today announced the introduction of the DIDGET™ blood glucose monitoring system in the United States. The DIDGET meter is unique because it is the only blood glucose meter that connects directly to Nintendo DS™ and DS Lite gaming systems to help kids manage a lifelong disease by rewarding them for building consistent testing habits and meeting personalized blood glucose target ranges. Bayer's DIDGET meter is now available for purchase in the U.S. through CVS.com, Drugstore.com and Walgreens.com. Bayer's DIDGET meter links play with purpose for children with diabetes by tapping into kids' existing passion for handheld gaming. The DIDGET meter positively reinforces consistent blood glucose testing habits by awarding points that kids can use to unlock new game levels and customize their gaming experience. "As the first meter truly designed with kids in mind, the DIDGET meter can transform a child's blood sugar testing experience from something they have to do into something they want to do," said Dr. Larry Deeb, pediatric endocrinologist and medical director for the Diabetes Center at Tallahassee Memorial Hospital in Florida and a paid consultant for Bayer. "Regular blood sugar testing is critical for diabetes management and one of the biggest challenges facing parents of kids with diabetes is motivating their kids to develop good testing habits. Bayer's DIDGET meter adds an element of fun and rewards to the routine of testing and, by doing so, helps ease that parent/child tension that testing often creates," he added. Bayer's DIDGET meter is intended for use by kids ages 4-14 and grows with the child's ability to manage their diabetes, offering two testing levels, Basic and Advanced. It comes with Knock 'Em Downs™: World's Fair that includes a full length adventure game and mini game arcade. The DIDGET meter will connect to Bayer's DIDGET™ World (www.bayerdidget.com), a password-protected Web community that is coming soon, where kids can spend points that they earn from consistent monitoring practices and create their own page. The meter is based on Bayer's trusted CONTOUR® system and uses the same technology and CONTOUR test strips, providing the same easy accuracy, No Coding™ technology, no interference with maltose, galactose and oxygen and automatic correction for hematocrit and many common interfering substances (e.g., acetaminophen, ascorbic acid). CONTOUR test strips also feature under fill detection and automatic control solution marking as well as a 5-second test time and small (0.6 mL) sample size. Bayer's DIDGET meter recently received clearance from the U.S. Food and Drug Administration and the blood glucose meter is now available for a suggested retail value of .99 through leading online pharmacies.  For more information, visit www.bayerdidget.com.]]> http://www.physiciansnews.com/2010/04/27/new-blood-glucose-monitor-system-for-kids-connects-to-video-game/feed/ 1 New Health Law Will Require Industry To Disclose Payments To Physicians http://www.physiciansnews.com/2010/04/26/new-health-law-will-require-industry-to-disclose-payments-to-physicians/ http://www.physiciansnews.com/2010/04/26/new-health-law-will-require-industry-to-disclose-payments-to-physicians/#comments Mon, 26 Apr 2010 12:45:31 +0000 Physicians News http://www.physiciansnews.com/?p=3198 By Arlene Weintraub

KHN logo b/w

Doctors who accept speaking fees, five-star meals and other compensation from pharmaceutical or medical device companies will soon see their names – and the value of the gifts they accept – revealed on the Web, under a new federal law that follows several states in drawing attention to such financial benefits.

The experience of one of those states – Vermont – suggests that highlighting the medical industry's largesse may curb the payments.

This month, the attorney general of Vermont – one of three states to require gift disclosures – released data showing that total payments to physicians dropped 13 percent in fiscal 2009 to .6 million. The reporting requirement began in 2002. Consumer advocates have complained that industry compensation can affect a doctor's choice of drugs or treatment and that exposing the doctors will dissuade such behavior. But some consumer groups say that the new law is too narrow in its scope. And it has raised complaints among some doctors, who say the provision will unfairly stain legitimate work they do for industry. The overall dollar value of gifts to Vermont physicians "has been going down steadily for the last three years," says Wendy Morgan, chief of the state attorney general's public protection division. "I think there are more health care providers who won’t accept gifts." Vermont lawmakers want to make sure of that. Last year they amended the law to ban most gifts outright, including food, which accounted for 0,000 of the 2009 total. The other states with similar legislation, Massachusetts and Minnesota, have also outlawed many forms of corporate gift-giving, although they do allow doctors to accept speaking fees and most product samples. All three states allow research grants. Yet even consumers in those three states will get more detailed information and easier access to the data under the new federal program, which is part of the health overhaul signed into law last month. The Physician Payments Sunshine Act requires companies to begin recording any physician payments that are worth more than in 2012 and to report them on March 31, 2013. That includes stock options, research grants, knickknacks, consulting fees and travel to medical conferences at chi-chi hotels. The details will be posted in a searchable database starting Sept. 30, 2013. The measure is based on a bill that was introduced more than two years ago by Sens. Charles Grassley, R-Iowa, and Herb Kohl, D-Wis. The senators believe that physicians who receive benefits from drug and device makers are more inclined to prescribe the priciest products. "We hope this lowers health care costs and strengthens patient-doctor relationships," says Ashley Glacel, a spokeswoman for the Senate Special Committee on Aging, which spearheaded the original bill. It's not just states that are reporting physicians who are compensated by life-sciences companies. A growing number of pharmaceutical companies, feeling pressured by lawmakers expressing concerns about medical conflicts of interest, are also listing physician payments on the Internet. Most recently, Pfizer released details of million in payments that it made to doctors in the second half of 2009. Some industry critics gripe that the federal law has too many loopholes. It only applies to physicians and teaching hospitals, for example. Companies won't have to report payments they make to nurses, physician assistants, and other medical professionals who might influence which products are prescribed. "If any marketing avenue is not regulated, companies will find a way to exploit it," predicts Dr. Daniel Carlat, a psychiatrist and associate professor at Tufts Medical School. Carlat was once a speaker for Wyeth but quit over concerns about how to deal with a depression drug’s side effects. "I expect we’ll see a lot more nurse practitioners giving hired-gun talks," he says. In Vermont, corporate payouts to nurses totaled 8,000 in 2009—almost triple the amount they received the previous year. Some physicians opposed federal and state efforts to limit physician-industry relationships because they fear it will impede innovation. "The use of the term 'sunshine' has an implicit aura of corruption," says Dr. Thomas Stossel, a professor of medicine at Harvard. Last year, Stossel co-founded the Association of Clinical Researchers and Educators, which promotes collaboration between physicians and industry to create better products. Stossel has accepted speaking and consulting fees from companies such as Merck and Pfizer, and he says he's not opposed to his name appearing in corporate disclosures. But he does believe concerns about relationships between companies and doctors have been overblown. "What's wrong with a company buying me lunch or giving me a tote bag?" he asks.

Other physicians acknowledge that donations from industry – even small ones – can create conflicts of interest. "There is extensive literature suggesting that gifts can influence behavior," says Dr. Robert Steinbrook, adjunct professor of medicine at Dartmouth Medical School.

That evidence prompted the National Academy of Science's Institute of Medicine to issue a report last year endorsing the elimination of all physician-industry relationships that might unduly influence prescribing behavior.

While the new federal law stops short of banning gifts, it does promise to increase the public's understanding of how companies interact with physicians. Rather than simply listing names and dollar amounts, the federal database will include explanations of what services the physicians provided in return for the payments. And drop-down menus will make it simple for patients to parse the data by name, type of gift received, and other specifics.

As a result, "the legislation will allow us to analyze the data in ways that are meaningful," says Jerome P. Kassirer, a professor at Tufts University School of Medicine and author of "On the Take," a book about physicians' financial relationships with companies. That will be especially useful for patients facing hip or knee replacements, or other procedures involving expensive medical devices, Kassirer adds. "They’ll be able to determine whether their doctors are heavily invested in the companies making the devices," he says.

Research suggests that those details matter to some patients. Kevin P. Weinfurt, an associate professor of psychology and neuroscience at Duke University, has studied how patients participating in clinical trials react to physician disclosures. He found that patients were particularly troubled when doctors owned stock in the companies that were managing the clinical trials. "They felt somehow that this physician could do something in the trial that could make the company a lot of money, which would then make him a lot of money," Weinfurt says.

Industry groups representing pharmaceutical and medical-device makers have supported the federal provisions on physician disclosures.

"This knowledge will give the public greater confidence in the nature of the relationships" between companies and physicians, says David Nexon, senior executive vice president of AdvaMed, a trade association of medical device makers. "We have nothing to hide."

This article was reprinted from kaiserhealthnews.org with permission from the Henry J. Kaiser Family Foundation. Kaiser Health News, an editorially independent news service, is a program of the Kaiser Family Foundation, a nonpartisan health care policy research organization unaffiliated with Kaiser Permanente.]]> http://www.physiciansnews.com/2010/04/26/new-health-law-will-require-industry-to-disclose-payments-to-physicians/feed/ 1 Abstract: Coffee consumption and risk of lethal and advanced prostate cancer. http://www.physiciansnews.com/2009/12/09/abstract-coffee-consumption-and-risk-of-lethal-and-advanced-prostate-cancer/ http://www.physiciansnews.com/2009/12/09/abstract-coffee-consumption-and-risk-of-lethal-and-advanced-prostate-cancer/#comments Wed, 09 Dec 2009 12:57:29 +0000 Physicians News http://www.physiciansnews.com/?p=2822 http://www.physiciansnews.com/2009/12/09/abstract-coffee-consumption-and-risk-of-lethal-and-advanced-prostate-cancer/feed/ 0 Temple U: iPods Help Docs Improve Stethoscope Skills http://www.physiciansnews.com/2010/04/26/new-health-law-will-require-industry-to-disclose-payments-to-physicians/ http://www.physiciansnews.com/2010/04/26/new-health-law-will-require-industry-to-disclose-payments-to-physicians/#comments Mon, 26 Apr 2010 12:45:31 +0000 Physicians News http://www.physiciansnews.com/?p=3198 By Arlene Weintraub

KHN logo b/w

Doctors who accept speaking fees, five-star meals and other compensation from pharmaceutical or medical device companies will soon see their names – and the value of the gifts they accept – revealed on the Web, under a new federal law that follows several states in drawing attention to such financial benefits.

The experience of one of those states – Vermont – suggests that highlighting the medical industry's largesse may curb the payments.

This month, the attorney general of Vermont – one of three states to require gift disclosures – released data showing that total payments to physicians dropped 13 percent in fiscal 2009 to $2.6 million. The reporting requirement began in 2002. Consumer advocates have complained that industry compensation can affect a doctor's choice of drugs or treatment and that exposing the doctors will dissuade such behavior. But some consumer groups say that the new law is too narrow in its scope. And it has raised complaints among some doctors, who say the provision will unfairly stain legitimate work they do for industry. The overall dollar value of gifts to Vermont physicians "has been going down steadily for the last three years," says Wendy Morgan, chief of the state attorney general's public protection division. "I think there are more health care providers who won’t accept gifts." Vermont lawmakers want to make sure of that. Last year they amended the law to ban most gifts outright, including food, which accounted for $800,000 of the 2009 total. The other states with similar legislation, Massachusetts and Minnesota, have also outlawed many forms of corporate gift-giving, although they do allow doctors to accept speaking fees and most product samples. All three states allow research grants. Yet even consumers in those three states will get more detailed information and easier access to the data under the new federal program, which is part of the health overhaul signed into law last month. The Physician Payments Sunshine Act requires companies to begin recording any physician payments that are worth more than $10 in 2012 and to report them on March 31, 2013. That includes stock options, research grants, knickknacks, consulting fees and travel to medical conferences at chi-chi hotels. The details will be posted in a searchable database starting Sept. 30, 2013. The measure is based on a bill that was introduced more than two years ago by Sens. Charles Grassley, R-Iowa, and Herb Kohl, D-Wis. The senators believe that physicians who receive benefits from drug and device makers are more inclined to prescribe the priciest products. "We hope this lowers health care costs and strengthens patient-doctor relationships," says Ashley Glacel, a spokeswoman for the Senate Special Committee on Aging, which spearheaded the original bill. It's not just states that are reporting physicians who are compensated by life-sciences companies. A growing number of pharmaceutical companies, feeling pressured by lawmakers expressing concerns about medical conflicts of interest, are also listing physician payments on the Internet. Most recently, Pfizer released details of $35 million in payments that it made to doctors in the second half of 2009. Some industry critics gripe that the federal law has too many loopholes. It only applies to physicians and teaching hospitals, for example. Companies won't have to report payments they make to nurses, physician assistants, and other medical professionals who might influence which products are prescribed. "If any marketing avenue is not regulated, companies will find a way to exploit it," predicts Dr. Daniel Carlat, a psychiatrist and associate professor at Tufts Medical School. Carlat was once a speaker for Wyeth but quit over concerns about how to deal with a depression drug’s side effects. "I expect we’ll see a lot more nurse practitioners giving hired-gun talks," he says. In Vermont, corporate payouts to nurses totaled $288,000 in 2009—almost triple the amount they received the previous year. Some physicians opposed federal and state efforts to limit physician-industry relationships because they fear it will impede innovation. "The use of the term 'sunshine' has an implicit aura of corruption," says Dr. Thomas Stossel, a professor of medicine at Harvard. Last year, Stossel co-founded the Association of Clinical Researchers and Educators, which promotes collaboration between physicians and industry to create better products. Stossel has accepted speaking and consulting fees from companies such as Merck and Pfizer, and he says he's not opposed to his name appearing in corporate disclosures. But he does believe concerns about relationships between companies and doctors have been overblown. "What's wrong with a company buying me lunch or giving me a tote bag?" he asks.

Other physicians acknowledge that donations from industry – even small ones – can create conflicts of interest. "There is extensive literature suggesting that gifts can influence behavior," says Dr. Robert Steinbrook, adjunct professor of medicine at Dartmouth Medical School.

That evidence prompted the National Academy of Science's Institute of Medicine to issue a report last year endorsing the elimination of all physician-industry relationships that might unduly influence prescribing behavior.

While the new federal law stops short of banning gifts, it does promise to increase the public's understanding of how companies interact with physicians. Rather than simply listing names and dollar amounts, the federal database will include explanations of what services the physicians provided in return for the payments. And drop-down menus will make it simple for patients to parse the data by name, type of gift received, and other specifics.

As a result, "the legislation will allow us to analyze the data in ways that are meaningful," says Jerome P. Kassirer, a professor at Tufts University School of Medicine and author of "On the Take," a book about physicians' financial relationships with companies. That will be especially useful for patients facing hip or knee replacements, or other procedures involving expensive medical devices, Kassirer adds. "They’ll be able to determine whether their doctors are heavily invested in the companies making the devices," he says.

Research suggests that those details matter to some patients. Kevin P. Weinfurt, an associate professor of psychology and neuroscience at Duke University, has studied how patients participating in clinical trials react to physician disclosures. He found that patients were particularly troubled when doctors owned stock in the companies that were managing the clinical trials. "They felt somehow that this physician could do something in the trial that could make the company a lot of money, which would then make him a lot of money," Weinfurt says.

Industry groups representing pharmaceutical and medical-device makers have supported the federal provisions on physician disclosures.

"This knowledge will give the public greater confidence in the nature of the relationships" between companies and physicians, says David Nexon, senior executive vice president of AdvaMed, a trade association of medical device makers. "We have nothing to hide."

This article was reprinted from kaiserhealthnews.org with permission from the Henry J. Kaiser Family Foundation. Kaiser Health News, an editorially independent news service, is a program of the Kaiser Family Foundation, a nonpartisan health care policy research organization unaffiliated with Kaiser Permanente.]]> http://www.physiciansnews.com/2010/04/26/new-health-law-will-require-industry-to-disclose-payments-to-physicians/feed/ 1 Physicians News » Uncategorized http://www.physiciansnews.com Tue, 07 Feb 2012 16:44:06 +0000 en hourly 1 http://wordpress.org/?v=3.2.1 Keeping Your Investments on Track throughout Your Career http://www.physiciansnews.com/2011/08/09/keeping-your-investments-on-track-throughout-your-career/ http://www.physiciansnews.com/2011/08/09/keeping-your-investments-on-track-throughout-your-career/#comments Tue, 09 Aug 2011 23:50:22 +0000 Physicians News http://www.physiciansnews.com/?p=4209 By Peter Rohr Physicians, much like lawyers and business leaders, face different financial needs as they progress through their career. From finishing medical school to joining a practice, having years of productivity and ultimately retiring, each phase presents its own set of unique financial needs and challenges. However, a common thread is evident through each phase; it’s never too early to start planning for your financial future to help ensure long-term success. Strategizing Debt and Saving for Your Future Although six years of medical school tuition is an investment with good return over the long-term, many recent graduates find themselves battling sky-high student loans. Thus, it’s important to have a strategy in place for tackling debt post-graduation. Your financial advisor can ensure that your financial strategy takes into account the debt that you must pay down, while allowing you to meet your other short-term financial needs, positioning you for long-term financial growth. As you are establishing your career, it is also important to think ahead to your future and start saving for retirement. One way to do this is to take advantage of the retirement contribution program and benefits made available through your practice. Everyone’s risk tolerance and budgetary needs are different, so work with your financial advisor to find the most appropriate way for you to pay down debt, and the right asset allocation to help you invest for the future. Of course, asset allocation does not assure a profit or protect against loss in declining markets.  Remember, investment products are not FDIC-insured, not bank guaranteed and may lose money. Building Your Career – and Financial Security For physicians focused on building their practice, personal time can be hard to come by. But paying close attention to your finances throughout your career is critical to achieving your long-term goals, and a financial advisor can help you stay focused and on-track. Indeed, according to the January 2011 Merrill Lynch Affluent Insights Survey (MLAIS), when asked the number one piece of long-term saving and investing advice they would give their 30-year-old-self, 34 percent of affluent Philadelphians recommended working with a financial advisor or working with one earlier in life. The highly demanding life of a physician leaves little time to think about the importance of a financial portfolio and ways to balance expenses with other financial obligations. While furthering your career, you may also be raising a young family, saving for a child’s education, looking to buy a second home, and traveling.  In order to plan properly, it’s important to incorporate all of these expenses into your overall financial strategy. As with tending to your personal finances, it is also important to create a balanced financial strategy for your practice. You need to consider how to balance the budget in order to support the medical associates who have joined your group, all the while keeping in mind the long-term plans for the practice. Creating a budget and setting financial goals, for both your personal and professional life, can help you prioritize your financial needs and set a foundation for your financial future. Working together with a professional who understands your financial concerns and priorities, and who can help guide your overall financial strategy, will allow you to focus on your career aspirations. Planning for a Transition Transitioning out of the practice can be intimidating and emotional for physicians – but the earlier you plan, the smoother the path can be. Consider your options a few years before you are ready to pass the baton – who will take the reins?  Passing your practice to trusted younger physicians can help you feel that your legacy will be in good hands. Consider how involved you will be in the practice during your last years practicing and how you would like to the transition to occur.  There is no need for an abrupt exit; the transition into retirement can be a gradual process that takes place over time. With retirement on the horizon, creating a strategy that best meets the needs of your practice as well as of your personal finances will allow you to gracefully transition into your future. Retirement Your Way According to the MLAIS, 88 percent of Philadelphia’s affluent believe their retirement will differ from that of their parents. In fact, more than half plan to continue working during what would normally be considered their retirement years, and 30 percent plan to relocate to another city. This suggests that for many, “retirement” may be an active time, full of adventure, education – possibly even a second career. And this requires careful planning in terms of finances.  Put a strategy in place and start putting money away for retirement early. As you get deeper into your career, set specific goals for investing – consider how much you’ll need to live the lifestyle you want, and what your personal goals will be during these years. In order to live the retirement life you have dreamed of, it’s important to plan early. In addition to planning ahead in order to support your lifestyle in retirement, it’s important to consider unforeseen expenses that may arise when developing your financial strategy. For example, as a physician you spend your career focusing on healthcare for others, but it is also important to consider your own healthcare needs during retirement.  According to the U.S. Department of Health and Human Services, 70 percent of people older than 65 will eventually need some sort of long-term care. In order to be prepared, your financial advisor can help you understand the options available to maximize your payments during retirement. No matter what phase of your career you are in, it’s never too late to start planning for the next step. Working closely with a financial advisor as you transition through each stage of your career can help you develop a sound financial  roadmap for your future, both professionally and personally, allowing you to reap the benefits of your hard work over the years. ### Peter A. Rohr is a Managing Director-Investments and Private Wealth Advisor with the Private Banking and Investment Group at Merrill Lynch which operates through Merrill Lynch, Pierce, Fenner & Smith, Incorporated, a registered broker-dealer and Member SIPC. He can be reached in Philadelphia at (215) 587-4731 or peter_rohr@ml.com.    ]]> http://www.physiciansnews.com/2011/08/09/keeping-your-investments-on-track-throughout-your-career/feed/ 0 New Blood Glucose Monitor System for Kids Connects to Video Game http://www.physiciansnews.com/2010/04/27/new-blood-glucose-monitor-system-for-kids-connects-to-video-game/ http://www.physiciansnews.com/2010/04/27/new-blood-glucose-monitor-system-for-kids-connects-to-video-game/#comments Tue, 27 Apr 2010 13:06:37 +0000 Physicians News http://www.physiciansnews.com/?p=3207 Bayer Diabetes Care today announced the introduction of the DIDGET™ blood glucose monitoring system in the United States. The DIDGET meter is unique because it is the only blood glucose meter that connects directly to Nintendo DS™ and DS Lite gaming systems to help kids manage a lifelong disease by rewarding them for building consistent testing habits and meeting personalized blood glucose target ranges. Bayer's DIDGET meter is now available for purchase in the U.S. through CVS.com, Drugstore.com and Walgreens.com. Bayer's DIDGET meter links play with purpose for children with diabetes by tapping into kids' existing passion for handheld gaming. The DIDGET meter positively reinforces consistent blood glucose testing habits by awarding points that kids can use to unlock new game levels and customize their gaming experience. "As the first meter truly designed with kids in mind, the DIDGET meter can transform a child's blood sugar testing experience from something they have to do into something they want to do," said Dr. Larry Deeb, pediatric endocrinologist and medical director for the Diabetes Center at Tallahassee Memorial Hospital in Florida and a paid consultant for Bayer. "Regular blood sugar testing is critical for diabetes management and one of the biggest challenges facing parents of kids with diabetes is motivating their kids to develop good testing habits. Bayer's DIDGET meter adds an element of fun and rewards to the routine of testing and, by doing so, helps ease that parent/child tension that testing often creates," he added. Bayer's DIDGET meter is intended for use by kids ages 4-14 and grows with the child's ability to manage their diabetes, offering two testing levels, Basic and Advanced. It comes with Knock 'Em Downs™: World's Fair that includes a full length adventure game and mini game arcade. The DIDGET meter will connect to Bayer's DIDGET™ World (www.bayerdidget.com), a password-protected Web community that is coming soon, where kids can spend points that they earn from consistent monitoring practices and create their own page. The meter is based on Bayer's trusted CONTOUR® system and uses the same technology and CONTOUR test strips, providing the same easy accuracy, No Coding™ technology, no interference with maltose, galactose and oxygen and automatic correction for hematocrit and many common interfering substances (e.g., acetaminophen, ascorbic acid). CONTOUR test strips also feature under fill detection and automatic control solution marking as well as a 5-second test time and small (0.6 mL) sample size. Bayer's DIDGET meter recently received clearance from the U.S. Food and Drug Administration and the blood glucose meter is now available for a suggested retail value of .99 through leading online pharmacies.  For more information, visit www.bayerdidget.com.]]> http://www.physiciansnews.com/2010/04/27/new-blood-glucose-monitor-system-for-kids-connects-to-video-game/feed/ 1 New Health Law Will Require Industry To Disclose Payments To Physicians http://www.physiciansnews.com/2010/04/26/new-health-law-will-require-industry-to-disclose-payments-to-physicians/ http://www.physiciansnews.com/2010/04/26/new-health-law-will-require-industry-to-disclose-payments-to-physicians/#comments Mon, 26 Apr 2010 12:45:31 +0000 Physicians News http://www.physiciansnews.com/?p=3198 By Arlene Weintraub

KHN logo b/w

Doctors who accept speaking fees, five-star meals and other compensation from pharmaceutical or medical device companies will soon see their names – and the value of the gifts they accept – revealed on the Web, under a new federal law that follows several states in drawing attention to such financial benefits.

The experience of one of those states – Vermont – suggests that highlighting the medical industry's largesse may curb the payments.

This month, the attorney general of Vermont – one of three states to require gift disclosures – released data showing that total payments to physicians dropped 13 percent in fiscal 2009 to .6 million. The reporting requirement began in 2002. Consumer advocates have complained that industry compensation can affect a doctor's choice of drugs or treatment and that exposing the doctors will dissuade such behavior. But some consumer groups say that the new law is too narrow in its scope. And it has raised complaints among some doctors, who say the provision will unfairly stain legitimate work they do for industry. The overall dollar value of gifts to Vermont physicians "has been going down steadily for the last three years," says Wendy Morgan, chief of the state attorney general's public protection division. "I think there are more health care providers who won’t accept gifts." Vermont lawmakers want to make sure of that. Last year they amended the law to ban most gifts outright, including food, which accounted for 0,000 of the 2009 total. The other states with similar legislation, Massachusetts and Minnesota, have also outlawed many forms of corporate gift-giving, although they do allow doctors to accept speaking fees and most product samples. All three states allow research grants. Yet even consumers in those three states will get more detailed information and easier access to the data under the new federal program, which is part of the health overhaul signed into law last month. The Physician Payments Sunshine Act requires companies to begin recording any physician payments that are worth more than in 2012 and to report them on March 31, 2013. That includes stock options, research grants, knickknacks, consulting fees and travel to medical conferences at chi-chi hotels. The details will be posted in a searchable database starting Sept. 30, 2013. The measure is based on a bill that was introduced more than two years ago by Sens. Charles Grassley, R-Iowa, and Herb Kohl, D-Wis. The senators believe that physicians who receive benefits from drug and device makers are more inclined to prescribe the priciest products. "We hope this lowers health care costs and strengthens patient-doctor relationships," says Ashley Glacel, a spokeswoman for the Senate Special Committee on Aging, which spearheaded the original bill. It's not just states that are reporting physicians who are compensated by life-sciences companies. A growing number of pharmaceutical companies, feeling pressured by lawmakers expressing concerns about medical conflicts of interest, are also listing physician payments on the Internet. Most recently, Pfizer released details of million in payments that it made to doctors in the second half of 2009. Some industry critics gripe that the federal law has too many loopholes. It only applies to physicians and teaching hospitals, for example. Companies won't have to report payments they make to nurses, physician assistants, and other medical professionals who might influence which products are prescribed. "If any marketing avenue is not regulated, companies will find a way to exploit it," predicts Dr. Daniel Carlat, a psychiatrist and associate professor at Tufts Medical School. Carlat was once a speaker for Wyeth but quit over concerns about how to deal with a depression drug’s side effects. "I expect we’ll see a lot more nurse practitioners giving hired-gun talks," he says. In Vermont, corporate payouts to nurses totaled 8,000 in 2009—almost triple the amount they received the previous year. Some physicians opposed federal and state efforts to limit physician-industry relationships because they fear it will impede innovation. "The use of the term 'sunshine' has an implicit aura of corruption," says Dr. Thomas Stossel, a professor of medicine at Harvard. Last year, Stossel co-founded the Association of Clinical Researchers and Educators, which promotes collaboration between physicians and industry to create better products. Stossel has accepted speaking and consulting fees from companies such as Merck and Pfizer, and he says he's not opposed to his name appearing in corporate disclosures. But he does believe concerns about relationships between companies and doctors have been overblown. "What's wrong with a company buying me lunch or giving me a tote bag?" he asks.

Other physicians acknowledge that donations from industry – even small ones – can create conflicts of interest. "There is extensive literature suggesting that gifts can influence behavior," says Dr. Robert Steinbrook, adjunct professor of medicine at Dartmouth Medical School.

That evidence prompted the National Academy of Science's Institute of Medicine to issue a report last year endorsing the elimination of all physician-industry relationships that might unduly influence prescribing behavior.

While the new federal law stops short of banning gifts, it does promise to increase the public's understanding of how companies interact with physicians. Rather than simply listing names and dollar amounts, the federal database will include explanations of what services the physicians provided in return for the payments. And drop-down menus will make it simple for patients to parse the data by name, type of gift received, and other specifics.

As a result, "the legislation will allow us to analyze the data in ways that are meaningful," says Jerome P. Kassirer, a professor at Tufts University School of Medicine and author of "On the Take," a book about physicians' financial relationships with companies. That will be especially useful for patients facing hip or knee replacements, or other procedures involving expensive medical devices, Kassirer adds. "They’ll be able to determine whether their doctors are heavily invested in the companies making the devices," he says.

Research suggests that those details matter to some patients. Kevin P. Weinfurt, an associate professor of psychology and neuroscience at Duke University, has studied how patients participating in clinical trials react to physician disclosures. He found that patients were particularly troubled when doctors owned stock in the companies that were managing the clinical trials. "They felt somehow that this physician could do something in the trial that could make the company a lot of money, which would then make him a lot of money," Weinfurt says.

Industry groups representing pharmaceutical and medical-device makers have supported the federal provisions on physician disclosures.

"This knowledge will give the public greater confidence in the nature of the relationships" between companies and physicians, says David Nexon, senior executive vice president of AdvaMed, a trade association of medical device makers. "We have nothing to hide."

This article was reprinted from kaiserhealthnews.org with permission from the Henry J. Kaiser Family Foundation. Kaiser Health News, an editorially independent news service, is a program of the Kaiser Family Foundation, a nonpartisan health care policy research organization unaffiliated with Kaiser Permanente.]]> http://www.physiciansnews.com/2010/04/26/new-health-law-will-require-industry-to-disclose-payments-to-physicians/feed/ 1 Abstract: Coffee consumption and risk of lethal and advanced prostate cancer. http://www.physiciansnews.com/2009/12/09/abstract-coffee-consumption-and-risk-of-lethal-and-advanced-prostate-cancer/ http://www.physiciansnews.com/2009/12/09/abstract-coffee-consumption-and-risk-of-lethal-and-advanced-prostate-cancer/#comments Wed, 09 Dec 2009 12:57:29 +0000 Physicians News http://www.physiciansnews.com/?p=2822 http://www.physiciansnews.com/2009/12/09/abstract-coffee-consumption-and-risk-of-lethal-and-advanced-prostate-cancer/feed/ 0 Temple U: iPods Help Docs Improve Stethoscope Skills http://www.physiciansnews.com/2009/12/09/abstract-coffee-consumption-and-risk-of-lethal-and-advanced-prostate-cancer/ http://www.physiciansnews.com/2009/12/09/abstract-coffee-consumption-and-risk-of-lethal-and-advanced-prostate-cancer/#comments Wed, 09 Dec 2009 12:57:29 +0000 Physicians News http://www.physiciansnews.com/?p=2822 http://www.physiciansnews.com/2009/12/09/abstract-coffee-consumption-and-risk-of-lethal-and-advanced-prostate-cancer/feed/ 0 Physicians News » Uncategorized http://www.physiciansnews.com Tue, 07 Feb 2012 16:44:06 +0000 en hourly 1 http://wordpress.org/?v=3.2.1 Keeping Your Investments on Track throughout Your Career http://www.physiciansnews.com/2011/08/09/keeping-your-investments-on-track-throughout-your-career/ http://www.physiciansnews.com/2011/08/09/keeping-your-investments-on-track-throughout-your-career/#comments Tue, 09 Aug 2011 23:50:22 +0000 Physicians News http://www.physiciansnews.com/?p=4209 By Peter Rohr Physicians, much like lawyers and business leaders, face different financial needs as they progress through their career. From finishing medical school to joining a practice, having years of productivity and ultimately retiring, each phase presents its own set of unique financial needs and challenges. However, a common thread is evident through each phase; it’s never too early to start planning for your financial future to help ensure long-term success. Strategizing Debt and Saving for Your Future Although six years of medical school tuition is an investment with good return over the long-term, many recent graduates find themselves battling sky-high student loans. Thus, it’s important to have a strategy in place for tackling debt post-graduation. Your financial advisor can ensure that your financial strategy takes into account the debt that you must pay down, while allowing you to meet your other short-term financial needs, positioning you for long-term financial growth. As you are establishing your career, it is also important to think ahead to your future and start saving for retirement. One way to do this is to take advantage of the retirement contribution program and benefits made available through your practice. Everyone’s risk tolerance and budgetary needs are different, so work with your financial advisor to find the most appropriate way for you to pay down debt, and the right asset allocation to help you invest for the future. Of course, asset allocation does not assure a profit or protect against loss in declining markets.  Remember, investment products are not FDIC-insured, not bank guaranteed and may lose money. Building Your Career – and Financial Security For physicians focused on building their practice, personal time can be hard to come by. But paying close attention to your finances throughout your career is critical to achieving your long-term goals, and a financial advisor can help you stay focused and on-track. Indeed, according to the January 2011 Merrill Lynch Affluent Insights Survey (MLAIS), when asked the number one piece of long-term saving and investing advice they would give their 30-year-old-self, 34 percent of affluent Philadelphians recommended working with a financial advisor or working with one earlier in life. The highly demanding life of a physician leaves little time to think about the importance of a financial portfolio and ways to balance expenses with other financial obligations. While furthering your career, you may also be raising a young family, saving for a child’s education, looking to buy a second home, and traveling.  In order to plan properly, it’s important to incorporate all of these expenses into your overall financial strategy. As with tending to your personal finances, it is also important to create a balanced financial strategy for your practice. You need to consider how to balance the budget in order to support the medical associates who have joined your group, all the while keeping in mind the long-term plans for the practice. Creating a budget and setting financial goals, for both your personal and professional life, can help you prioritize your financial needs and set a foundation for your financial future. Working together with a professional who understands your financial concerns and priorities, and who can help guide your overall financial strategy, will allow you to focus on your career aspirations. Planning for a Transition Transitioning out of the practice can be intimidating and emotional for physicians – but the earlier you plan, the smoother the path can be. Consider your options a few years before you are ready to pass the baton – who will take the reins?  Passing your practice to trusted younger physicians can help you feel that your legacy will be in good hands. Consider how involved you will be in the practice during your last years practicing and how you would like to the transition to occur.  There is no need for an abrupt exit; the transition into retirement can be a gradual process that takes place over time. With retirement on the horizon, creating a strategy that best meets the needs of your practice as well as of your personal finances will allow you to gracefully transition into your future. Retirement Your Way According to the MLAIS, 88 percent of Philadelphia’s affluent believe their retirement will differ from that of their parents. In fact, more than half plan to continue working during what would normally be considered their retirement years, and 30 percent plan to relocate to another city. This suggests that for many, “retirement” may be an active time, full of adventure, education – possibly even a second career. And this requires careful planning in terms of finances.  Put a strategy in place and start putting money away for retirement early. As you get deeper into your career, set specific goals for investing – consider how much you’ll need to live the lifestyle you want, and what your personal goals will be during these years. In order to live the retirement life you have dreamed of, it’s important to plan early. In addition to planning ahead in order to support your lifestyle in retirement, it’s important to consider unforeseen expenses that may arise when developing your financial strategy. For example, as a physician you spend your career focusing on healthcare for others, but it is also important to consider your own healthcare needs during retirement.  According to the U.S. Department of Health and Human Services, 70 percent of people older than 65 will eventually need some sort of long-term care. In order to be prepared, your financial advisor can help you understand the options available to maximize your payments during retirement. No matter what phase of your career you are in, it’s never too late to start planning for the next step. Working closely with a financial advisor as you transition through each stage of your career can help you develop a sound financial  roadmap for your future, both professionally and personally, allowing you to reap the benefits of your hard work over the years. ### Peter A. Rohr is a Managing Director-Investments and Private Wealth Advisor with the Private Banking and Investment Group at Merrill Lynch which operates through Merrill Lynch, Pierce, Fenner & Smith, Incorporated, a registered broker-dealer and Member SIPC. He can be reached in Philadelphia at (215) 587-4731 or peter_rohr@ml.com.    ]]> http://www.physiciansnews.com/2011/08/09/keeping-your-investments-on-track-throughout-your-career/feed/ 0 New Blood Glucose Monitor System for Kids Connects to Video Game http://www.physiciansnews.com/2010/04/27/new-blood-glucose-monitor-system-for-kids-connects-to-video-game/ http://www.physiciansnews.com/2010/04/27/new-blood-glucose-monitor-system-for-kids-connects-to-video-game/#comments Tue, 27 Apr 2010 13:06:37 +0000 Physicians News http://www.physiciansnews.com/?p=3207 Bayer Diabetes Care today announced the introduction of the DIDGET™ blood glucose monitoring system in the United States. The DIDGET meter is unique because it is the only blood glucose meter that connects directly to Nintendo DS™ and DS Lite gaming systems to help kids manage a lifelong disease by rewarding them for building consistent testing habits and meeting personalized blood glucose target ranges. Bayer's DIDGET meter is now available for purchase in the U.S. through CVS.com, Drugstore.com and Walgreens.com. Bayer's DIDGET meter links play with purpose for children with diabetes by tapping into kids' existing passion for handheld gaming. The DIDGET meter positively reinforces consistent blood glucose testing habits by awarding points that kids can use to unlock new game levels and customize their gaming experience. "As the first meter truly designed with kids in mind, the DIDGET meter can transform a child's blood sugar testing experience from something they have to do into something they want to do," said Dr. Larry Deeb, pediatric endocrinologist and medical director for the Diabetes Center at Tallahassee Memorial Hospital in Florida and a paid consultant for Bayer. "Regular blood sugar testing is critical for diabetes management and one of the biggest challenges facing parents of kids with diabetes is motivating their kids to develop good testing habits. Bayer's DIDGET meter adds an element of fun and rewards to the routine of testing and, by doing so, helps ease that parent/child tension that testing often creates," he added. Bayer's DIDGET meter is intended for use by kids ages 4-14 and grows with the child's ability to manage their diabetes, offering two testing levels, Basic and Advanced. It comes with Knock 'Em Downs™: World's Fair that includes a full length adventure game and mini game arcade. The DIDGET meter will connect to Bayer's DIDGET™ World (www.bayerdidget.com), a password-protected Web community that is coming soon, where kids can spend points that they earn from consistent monitoring practices and create their own page. The meter is based on Bayer's trusted CONTOUR® system and uses the same technology and CONTOUR test strips, providing the same easy accuracy, No Coding™ technology, no interference with maltose, galactose and oxygen and automatic correction for hematocrit and many common interfering substances (e.g., acetaminophen, ascorbic acid). CONTOUR test strips also feature under fill detection and automatic control solution marking as well as a 5-second test time and small (0.6 mL) sample size. Bayer's DIDGET meter recently received clearance from the U.S. Food and Drug Administration and the blood glucose meter is now available for a suggested retail value of .99 through leading online pharmacies.  For more information, visit www.bayerdidget.com.]]> http://www.physiciansnews.com/2010/04/27/new-blood-glucose-monitor-system-for-kids-connects-to-video-game/feed/ 1 New Health Law Will Require Industry To Disclose Payments To Physicians http://www.physiciansnews.com/2010/04/26/new-health-law-will-require-industry-to-disclose-payments-to-physicians/ http://www.physiciansnews.com/2010/04/26/new-health-law-will-require-industry-to-disclose-payments-to-physicians/#comments Mon, 26 Apr 2010 12:45:31 +0000 Physicians News http://www.physiciansnews.com/?p=3198 By Arlene Weintraub

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Doctors who accept speaking fees, five-star meals and other compensation from pharmaceutical or medical device companies will soon see their names – and the value of the gifts they accept – revealed on the Web, under a new federal law that follows several states in drawing attention to such financial benefits.

The experience of one of those states – Vermont – suggests that highlighting the medical industry's largesse may curb the payments.

This month, the attorney general of Vermont – one of three states to require gift disclosures – released data showing that total payments to physicians dropped 13 percent in fiscal 2009 to .6 million. The reporting requirement began in 2002. Consumer advocates have complained that industry compensation can affect a doctor's choice of drugs or treatment and that exposing the doctors will dissuade such behavior. But some consumer groups say that the new law is too narrow in its scope. And it has raised complaints among some doctors, who say the provision will unfairly stain legitimate work they do for industry. The overall dollar value of gifts to Vermont physicians "has been going down steadily for the last three years," says Wendy Morgan, chief of the state attorney general's public protection division. "I think there are more health care providers who won’t accept gifts." Vermont lawmakers want to make sure of that. Last year they amended the law to ban most gifts outright, including food, which accounted for 0,000 of the 2009 total. The other states with similar legislation, Massachusetts and Minnesota, have also outlawed many forms of corporate gift-giving, although they do allow doctors to accept speaking fees and most product samples. All three states allow research grants. Yet even consumers in those three states will get more detailed information and easier access to the data under the new federal program, which is part of the health overhaul signed into law last month. The Physician Payments Sunshine Act requires companies to begin recording any physician payments that are worth more than in 2012 and to report them on March 31, 2013. That includes stock options, research grants, knickknacks, consulting fees and travel to medical conferences at chi-chi hotels. The details will be posted in a searchable database starting Sept. 30, 2013. The measure is based on a bill that was introduced more than two years ago by Sens. Charles Grassley, R-Iowa, and Herb Kohl, D-Wis. The senators believe that physicians who receive benefits from drug and device makers are more inclined to prescribe the priciest products. "We hope this lowers health care costs and strengthens patient-doctor relationships," says Ashley Glacel, a spokeswoman for the Senate Special Committee on Aging, which spearheaded the original bill. It's not just states that are reporting physicians who are compensated by life-sciences companies. A growing number of pharmaceutical companies, feeling pressured by lawmakers expressing concerns about medical conflicts of interest, are also listing physician payments on the Internet. Most recently, Pfizer released details of million in payments that it made to doctors in the second half of 2009. Some industry critics gripe that the federal law has too many loopholes. It only applies to physicians and teaching hospitals, for example. Companies won't have to report payments they make to nurses, physician assistants, and other medical professionals who might influence which products are prescribed. "If any marketing avenue is not regulated, companies will find a way to exploit it," predicts Dr. Daniel Carlat, a psychiatrist and associate professor at Tufts Medical School. Carlat was once a speaker for Wyeth but quit over concerns about how to deal with a depression drug’s side effects. "I expect we’ll see a lot more nurse practitioners giving hired-gun talks," he says. In Vermont, corporate payouts to nurses totaled 8,000 in 2009—almost triple the amount they received the previous year. Some physicians opposed federal and state efforts to limit physician-industry relationships because they fear it will impede innovation. "The use of the term 'sunshine' has an implicit aura of corruption," says Dr. Thomas Stossel, a professor of medicine at Harvard. Last year, Stossel co-founded the Association of Clinical Researchers and Educators, which promotes collaboration between physicians and industry to create better products. Stossel has accepted speaking and consulting fees from companies such as Merck and Pfizer, and he says he's not opposed to his name appearing in corporate disclosures. But he does believe concerns about relationships between companies and doctors have been overblown. "What's wrong with a company buying me lunch or giving me a tote bag?" he asks.

Other physicians acknowledge that donations from industry – even small ones – can create conflicts of interest. "There is extensive literature suggesting that gifts can influence behavior," says Dr. Robert Steinbrook, adjunct professor of medicine at Dartmouth Medical School.

That evidence prompted the National Academy of Science's Institute of Medicine to issue a report last year endorsing the elimination of all physician-industry relationships that might unduly influence prescribing behavior.

While the new federal law stops short of banning gifts, it does promise to increase the public's understanding of how companies interact with physicians. Rather than simply listing names and dollar amounts, the federal database will include explanations of what services the physicians provided in return for the payments. And drop-down menus will make it simple for patients to parse the data by name, type of gift received, and other specifics.

As a result, "the legislation will allow us to analyze the data in ways that are meaningful," says Jerome P. Kassirer, a professor at Tufts University School of Medicine and author of "On the Take," a book about physicians' financial relationships with companies. That will be especially useful for patients facing hip or knee replacements, or other procedures involving expensive medical devices, Kassirer adds. "They’ll be able to determine whether their doctors are heavily invested in the companies making the devices," he says.

Research suggests that those details matter to some patients. Kevin P. Weinfurt, an associate professor of psychology and neuroscience at Duke University, has studied how patients participating in clinical trials react to physician disclosures. He found that patients were particularly troubled when doctors owned stock in the companies that were managing the clinical trials. "They felt somehow that this physician could do something in the trial that could make the company a lot of money, which would then make him a lot of money," Weinfurt says.

Industry groups representing pharmaceutical and medical-device makers have supported the federal provisions on physician disclosures.

"This knowledge will give the public greater confidence in the nature of the relationships" between companies and physicians, says David Nexon, senior executive vice president of AdvaMed, a trade association of medical device makers. "We have nothing to hide."

This article was reprinted from kaiserhealthnews.org with permission from the Henry J. Kaiser Family Foundation. Kaiser Health News, an editorially independent news service, is a program of the Kaiser Family Foundation, a nonpartisan health care policy research organization unaffiliated with Kaiser Permanente.]]> http://www.physiciansnews.com/2010/04/26/new-health-law-will-require-industry-to-disclose-payments-to-physicians/feed/ 1 Abstract: Coffee consumption and risk of lethal and advanced prostate cancer. http://www.physiciansnews.com/2009/12/09/abstract-coffee-consumption-and-risk-of-lethal-and-advanced-prostate-cancer/ http://www.physiciansnews.com/2009/12/09/abstract-coffee-consumption-and-risk-of-lethal-and-advanced-prostate-cancer/#comments Wed, 09 Dec 2009 12:57:29 +0000 Physicians News http://www.physiciansnews.com/?p=2822 http://www.physiciansnews.com/2009/12/09/abstract-coffee-consumption-and-risk-of-lethal-and-advanced-prostate-cancer/feed/ 0 Temple U: iPods Help Docs Improve Stethoscope Skills http://www.physiciansnews.com/2009/08/28/temple-u-ipods-help-docs-improve-stethoscope-skills/ http://www.physiciansnews.com/2009/08/28/temple-u-ipods-help-docs-improve-stethoscope-skills/#comments Fri, 28 Aug 2009 18:02:48 +0000 Physicians News http://www.physiciansnews.com/?p=2541 By Eryn Jelesiewicz Patients rely on their physicians to recognize signs of trouble, yet for common heart murmurs, that ability is only fair at best.  Fortunately, the solution is simple: listening repeatedly.  In fact, intensive repetition — listening at least 400 times to each heart sound — significantly improved the stethoscope abilities of doctors, according to a study presented today at the American College of Cardiology’s annual meeting. After demonstrating last year that medical students greatly improved their stethoscope skills by listening repeatedly to heart sounds on their iPods, lead investigator Michael Barrett, MD, Clinical Associate Professor of Medicine and cardiologist at Temple University School of Medicine and Hospital, set out to test the technique on practicing physicians. During a single 90-minute session, 149 general internists listened 400 times to five common heart murmurs including aortic stenosis, aortic regurgitation, mitral stenosis, mitral regurgitation and innocent systolic murmur.  Previous studies have found the average rate of correct heart sound identification in physicians is 40 percent.  After the session, the average improved to 80 percent. Proficiency with a stethoscope — and the ability to recognize abnormal heart sounds — is a critical skill for identifying dangerous heart conditions and minimizing dependence on expensive medical tests. “It’s important to know when to order a costly echocardiogram or stress test,” said Barrett.  “Plus, internists are now tested on this skill for board recertification. Requirements for residents and other specialists are sure to follow.” Listening to the heart, known as cardiac auscultation, is, Barrett believes, a technical skill and therefore best learned through intensive drilling and repetition, not by traditional methods, usually a classroom lecture or demonstration in medical school and then on the job.  “You don’t build this proficiency by osmosis,” Barrett said. Barrett led another study of physicians, this time cardiologists, at the American College of Cardiology meeting in New Orleans in March.  After the physicians’ baseline stethoscope skills were tested, they received an iPod loaded with various heart sounds. After listening 400 times to each sound, they were tested again to measure their improvement. Dr. Barrett was pleased with the reception as more than 600 physicians participated in the program during the three-day meeting.  In fact, Barrett said “we will do the program again in 2010 using video iPods.” Temple University School of Medicine, where Barrett teaches, recently started a four-year curriculum on cardiac auscultation that relies on different types of simulators, including iPods, to teach medical students this important but vanishing skill. For each year of medical school, heart sounds are posted online, allowing students to download them to an iPod or mp3 player.  After listening repeatedly to the audio files, students’ skills are tested. Since the release of Barrett’s first study with medical students, the demand for recordings of heart sounds has been intense. Thanks to a partnership with the American College of Cardiology, Barrett’s heart sounds can now be accessed online and are available on CD. He foresees a day in the near future when doctors are listening to heart sounds during their work commute. “There are two times when a busy practitioner can learn a new skill: at professional meetings and during their work commute,” observed Barrett.  Consequently, he advised the ACC to make the CDs car-friendly and about the length of an average commute. Eryn Jelesiewicz is Director of News Communication at Temple University. Obtain Medical Specialty Own-Occupation Disability Insurance On-line]]> http://www.physiciansnews.com/2009/08/28/temple-u-ipods-help-docs-improve-stethoscope-skills/feed/ 0