The University has posted the financial interests of its doctors online for the first time as part of its efforts to increase transparency and remove the appearance of bias, University Health Systems spokesperson David Foreman said.
The American Medical Students Association recently gave the University a B grade for its conflict-of-interest policies, according to the association's Web site. The organization cited the lack of policy about industry support for trainee scholarships and the fact that the curriculum did not explicitly address financial conflict-of-interests as the University's main areas for improvement.
Although the association's recommendation was given prior to the University's policy change, Foreman said it did not directly play into the decision to post doctors' financial interests.
"We are moving forward based on what we think needs to be done, not what the student association thinks needs to be done," he said. University doctors must now make available online any company ownership interest greater than 3 percent, as well as any non-University income source that totals more than $10,000.
"We're on the leading group of schools that are truly looking at these relationships [with corporate sponsors] and trying to ensure transparency across the board," Foreman said.
The University also changed its policy to ban faculty from participating in corporate speaker bureaus, in which businesses hire doctors to travel across the country and to tout new drugs or medical devices, Foreman said. Faculty were allowed to be corporate speakers in 2008, and according to the online disclosure, three professors worked for pharmaceutical companies in that capacity.
In the same year, almost 50 professors had at least 3 percent ownership in companies ranging from medical billing software corporation PocketMed to interior decorating company Feather Your Nest Interiors. Most of the companies, however, were medically-based. A few dozen professors earned more than $10,000 last year by participating on corporate advisory boards or in consulting capacities.
"[Under the new policy] any contract that a faculty member enters into has to be reviewed by the administration," Foreman said.
In addition to new disclosure rules, the University already maintains strict regulations for drug samples and corporate donations, Foreman said. Some departments accept drug samples from pharmaceutical companies and some do not, but all samples are heavily tracked.
Last year the University also banned the acceptance of free pens, pencils and other promotional materials pharmaceutical companies give out, Foreman said. Many professors also earned more than $10,000 in 2008 from non-consulting jobs like writing books, editing medical journals or other work with medical companies.
"Any relationship that [doctors] do have does not have any impact on patient care, education or research opportunities," Foreman said.
Complete disclosures of medical faculty financial interests are available online at the Health System's Web site.
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