British pharmaceutical company GlaxoSmithKline has agreed to stop
paying doctors to promote its drugs
which is actually pretty unheard of with pharmaceutical companies because this
was a long-held practice
that probably lead to a lot of prescriptions that shouldn't have been
prescribed so just to give you some more detail to what they're doing
specifically
according to The New York Times they will no longer pay doctors to promote
its products and will stop
tying compensation of sales representatives to the number
up prescriptions doctors right I think the second part is extremely important
because
think about that for a second you give sales representative and you give
doctors
a huge incentive to over prescribed and that's been an ongoing problem in this
country especially when it comes to prescription drug abuse
so some might wonder like why is this happening while the
have nowhere decided to make this decision well first let me tell you what
the chief executive
Andrew witty had to say he said we keep asking ourselves
are there different ways more effective ways operating then perhaps the ways
we as an industry have been operating over the last thirty forty years
so that sounds very open minded not buying it but the reality is
it turns out that there are some parts of the Affordable Care Act that are
excellent and actually impacted decision
that this pharmaceutical company made according to the Affordable Care Act all
such payments by pharmaceutical companies
are to be made public next year under requirements of the Obama
administration's health care law
thought so first choice great news because this part of the reason why
all those drugs or push on people the ADHD
prescriptions are through the roof way over prescribed it about triple what
they need to be according to some studies
it's because the sales agencies are paid
it based on the prescription so then the grease up the doctors and
every imaginable ways never tell you a story like this a doctor alright it's
alright no I'm not affected by I believe you
but other doctors are they're all human beings they do respond
the financial a incentives okay wanna says the usual throw at
is the thing that they're taking away here all you need to go to a great
conference in Hawaii and Vegas whatever it is
all warrants KDR all expense paid on its you think they're not motivated by the
owner said
some backers are a lot of doctors of our okay
it's not by magic that all this prescriptions went up
so dramatically over the last thirty forty years and give me a break with we
decide to do this mantra like
look there's a couple things here for small GlaxoSmithKline
paid nearly a half a billion dollar penalty I
in China for some other abuses they were doing to bribe
it people to boost his truck sales they pay the $3 billion dollar settlement in
the US with the
government last year or charges that are provided misleading information on
certain drugs
right now but it's not what happen in the past and I was right
what's going to happen next year's was the most important reso
it not know these corporations do things out the bottom there
big heart in it because they feel good about you know what
it's a new day in America no no cuz we have by no you don't
anyway yes that's what you're scared so these corporations as you guys know when
there's a profit motive and there's a bottom line that they have to think
about their thinking about the money they're not thinking about morality or
ethics or anything like that
but some might argue well we've been knowing
the fact that doctors are getting paid by pharmaceutical companies are at least
they're getting incentives to over prescribe certain drugs
what's gonna was gonna be so different in the future well the Affordable Care
Act will not only force them to disclose this information
they will have to put it on a very specific website that easily accessible
so anyone who wants to know
how much money these companies are given to doctors can be easily go to a website
know know all the information necessary
that way if they don't want to take a particular drug they don't have to
right and by the way in Europe very summer law
what's going on in effect in 2016 so they know it's coming
they're trying to get ahead a bit and pretend to be the nice guys well that's
good news
either way okay kid right but and look under Mixon
Affordable Care Act but there's a very good party bit you give credit where
credit is due
NC look at the positive results that has led to in this case
by the way just GlaxoSmithKline just that one company
just I'm junkets that they send the doctors to the campuses
this pain and a yearly budget $82 million dollars
you think they do that for their health would get no pun intended
no they're doing it so those doctors go are you room and board you need this
GlaxoSmithKline product
okay you think they're not attracting have any doubt how many prescriptions
that doctors given
and then giving him troops accordingly we really did a study
where we found out that's exactly what they're doing the more prescriptions you
give us
the more free trips you get right now that's going to be expose all the sudden
even a program called patient first
shouldn't your whole you should your whole company but patient first from the
beginning
now all the sudden after Europe and US pass right laws
all the sudden mean patient first