Do You Have a Conflict of Interest?
As professionals, we may find ourselves in difficult situations, including conflicts of interest. As an employee, Board Member or physician, a conflict of interest occurs when an individual or their immediate family member has a financial or other personal interest that may compromise their professional judgement, performance of fiduciary duties or job responsibilities and/or the delivery of patient care or services.
For example, a conflict of interest may occur when someone is unable to make objective decisions in the course of their employment due to potentially conflicting activities; or when someone does not act solely in the best interest of the company.
It is The Centers’ policy that all employees, Board Members and physicians follow the organization’s Code of Conduct and understands that he or she cannot act in a manner that places that person’s private interests over the interests of The Centers.
If you suspect a conflict of interest, you are obligated to notify and present all facts to The Centers’ Chief Compliance Officer or to Human Resources. This is important policy and procedure, and we appreciate your candor and outreach. To help diagnose conflicts of interest in the medial field, check out these helpful tips:
1. Disclose relationships with drug companies. If you are a doctor or nurse working in a private practice, you must tell your patients about any relationships with drug companies. Some pharmaceutical companies may supply your office with free samples, office supplies, meals, and cash bonuses. Gift-giving is a controversial practice. Even if you are not earning money from these companies, be aware that others may view it as a conflict.
· If a company offers you a free meal to discuss their products, politely refuse. Ask them to come to your office instead. You will avoid a conflict of interest this way.
2. Locate any connections between doctors and testing facilities. It is increasingly common for doctors to have invested in local testing facilities. These doctors will then refer their client to these facilities for their medical testing. The doctor has an interest in testing for as many diseases as possible since each diagnosis increases their profits.
· As a patient, be sure to ask for any possible financial connections between the facility and your doctor. Ask if you can choose your own testing facility.
· As a doctor, research the facility. Even if you yourself do not own it, perhaps another doctor in your practice does. It is considered an ethical conflict of interest to do unnecessary tests on patients for the financial benefit of you or any other doctor.
3. Trace the sale of data. Some pharmacies and medical practices make money by selling patient data to pharmaceutical companies for marketing purposes. If you are a doctor or in charge of a practice, check your records. Make sure that there are no deals involving the sale of patient data. While selling data is legal in some places, it is not considered ethical by many. It may represent a conflict of interest to your patients
4. Quiz your physician on their interests. If you are a patient looking for a new doctor, be sure to ask your doctor questions. Ask them about their financial interests. Before agreeing to a procedure, research it thoroughly. Get a second opinion if necessary. There are many questions a patient can ask to determine if the doctor is giving a treatment to make money.