Financial Disclosure

摘要

Imagine this scene. White waiting in the surgeon's lounge to start your next case, you see that the TV is tuned to Bloomberg News, TH, a financial "talking head", is being interviewed. TH recommends that the XYZ stock be purchased. Critical thinker that you are, you wonder if TH has a vested financial interest in XYZ stock. Does TH own shares of XYZ, does TH's employer have a business relationship with XYZ (e.g. does it underwrite the sale of XYZ stock), will TH benefit in some way from his recommending the purchase of XYZ? Fortunately, Bloomberg News requires that all interviewees complete a financial disclosure that is displayed on the screen while the talking heads are talking. Is financial disclosure needed in JPRAS? Recent developments in the United States suggest so. In 2007, five of the largest orthopaedic equipment manufacturers agreed to pay out over dollar310 million in penalties to settle United States governmental accusations that they used fake consulting agreements and other means to induce orthopaedic surgeons to use their products. Four of the five companies were charged with criminal conspiracy and were subject to 18 months of federal monitoring as part of a deferred prosecution agreement.1 Despite the ongoing government investigation, the American Academy of Orthopaedic Surgeons has revamped its policy on disclosure of potential financial conflicts to patients.