Gift Giving in the Medical Industry Essay -- Healthcare

In a recent article from St. Paul Pioneer Press (http://www.cbsnews.com/8301-505245_162-57348681/drug-company-money-on-rise-for-2-minn-clinics/), the University of Minnesota and the Mayo Clinic came under public scrutiny after it was revealed that they received $650,000 between them in 2010. Gift giving has always been a touchy subject in the medical industry. Various articles have been written regarding the subject exploring the benefits and its disadvantages. But the tug of war between ethics and the effects of commercialism has yet to be seen in the stand of medical institutions and health care providers. In 2008, Fortune 500 magazine reported the Pharmaceutical Industry as one of the top three most profitable industries in America. This should not come as a surprise since there will always be sickness and disease and as a necessary consequent there will be patients who will need medicine for these illnesses. â€Å"It is a lucrative industry that utilizes different strategies to gain revenue.† said James Rhee, a professor in the Department of Physician Assistants Studies of Eastern Virginia Medical School, when he described the industry in his article in the Internet Journal of Academic Physician Assistants(http://www.ispub.com/journal/the-internet-journal-of-academic-physician-assistants/volume-7-number-1/the-influence-of-the-pharmaceutical-industry-on healthcare-practitioners-prescribing-habits.html). Business is business for these large pharmaceutical industries and they employ marketing techniques that will ensure their profitability. In realizing these gains, Pharmaceutic al companies employ variations on the tried and tested theme of gift giving. GIFT GIVING, IS IT APPROPRIATE? As early as 2003, Arnold Relman a Harvard ... ...dress conflict of interest issues, key people in strategic position like the director of the office of institutional compliance at the University of Minnesota, Lynn Zentner had this to say: â€Å"An unmanaged conflict is a problem,† â€Å"Having a conflict of interest is not.† # # # Works Cited (http://www.cbsnews.com/8301-505245_162-57348681/drug-company-money-on-rise-for-2-minn-clinics/),(http://www.ispub.com/journal/the-internet-journal-of-academic-physician-assistants/volume-7-number-1/the-influence-of-the-pharmaceutical-industry-on healthcare-practitioners-prescribing-habits.html),(http://www.bmj.com/content/326/7400/1189.extract),(http://www.twincities.com/ci_19619583?source=pkg),http://www.msnbc.msn.com/id/45796673/ns/technology_and_science-science/t/drug-company-money-rise-minn-clinics/#.TwFJtDX9Mlc)