$6.5 Billion got by US Doctors from the Manufacturer of Drugs and Medical Equipments

According to the data given by the new government of US in the year 2014 on the financial status it has been found that the doctors and teaching hospitals are receiving $6.49 for making the drug and medical devices from the companies and the people wants the product. 

The payments are used for two purposes like money, which is used for research and some of the money is used for doctors for their entertainment or it can be a compensate for them and also it can be used for non-research use. The payments are displayed in the public for shoeing the transparency in the field of finance between the drug manufacturers and health care providers.

It is always better to find a trick to find the financial incentives. Open Payments is the website developed by the Centers for Medicare and Medicaid Services allow the people to know the information on the medical providers. As per the information provided on the website that overall companies made $3.23 billion money for research purpose and $2.56 billion for other uses. And the ownership interest is $703 million.

Role of US government:

Because of the correct administration of the president of USA the transparency in the health care paves the way for the protection of the user. And the law is los declared that the amount paid by the Medicare to the doctors should be transparent. Europe also decided to do the same which is did by the US country.

The comment from the doctors helps the device makers to develop their products which are said by the Advanced Medical Technology.  The communication between drug makers and doctors also helps to improve the drugs for the betterment of the patients. It is also necessary that the government should also take the necessary steps to verify the data by the health care people. The government also takes more steps to make data accurately by insisting the doctors and teaching hospitals to review the record before it became transparent. More over thirty percent of the total was looked over.

Pfizer Inc, the leading drug maker:

In the US the largest drug maker is Pfizer Inc submitted the report that $234 million should spend on research and $53.3 for common usage. The characteristics in the data make the difficulty for the manufacturer for getting the correct totals. Many companies submitted payments which is not common.

Pallavi Tiple writes news on industry, businesses, technologies, media, and current affairs and also produces the content on daily basis regarding latest trends, markets, promotions, and events for Medical Device News. She enjoys reading and painting in her leisure time.

She can be reached at pallavi@medicaldevicenews.net