Drug and Medical Device Procurement
Pharmacy and therapeutics (P&T) committees are an effective tool for hospitals and health centers to ensure the practice of quality, cost effective and evidence-based medicine. Conflict of interest issues arise when individuals who have a direct role in decisions related to drug or medical equipment procurement also have financial relationships with manufacturers, including any receipt of gifts, grants, contracts or an otherwise compensated relationship. It is essential that academic medical centers (AMCs) establish policies to ensure that conflicts of interest do not influence purchasing decisions and jeopardize quality, evidence-based care.
• Compliance with state law
• Reinforcing the formulary
• Implementation strategies
|Model policies: || |
|Yale University |
“YMG physicians who are involved in institutional decisions concerning the purchase of or approval of medications or equipment, or the negotiation of other contractual relationships with industry, must not have any financial interest (e.g., equity ownership, compensated positions on advisory boards, a paid consultancy or other forms of compensated relationship) in pharmaceutical companies that might benefit from the institutional decision. This provision is not intended to preclude the indirect ownership, through mutual funds or other investment vehicles, of equities in publicly traded pharmaceutical companies by Yale faculty.”
“In service training, continuing education presentations and promotional materials that primarily focus on non-formulary drugs/supplies are prohibited. Exceptions may be granted by the VISN committee responsible for such oversight."