More news: IOM urges entities involved in research to monitor conflict of interest

A report issued by the Institute of Medicine (IOM) estimates that half of all medical research conducted in the United States is financed through corporations. Therefore, the IOM urges institutions and physicians involved in medical research to create solid conflict of interest policies that address conflicts at the institutional and individual levels.

Of particular interest to medical staffs, the report recommends that governing boards of medical institutions create standing committees to oversee conflicts of interest at the institutional level. The report offers guidelines for institutions to use when developing a conflict of interest policy.

Moreover, the IOM urges institutions that represent academic medical centers, physicians, researchers, and research sponsors work together to “develop consensus on standard content, format, and procedures for the disclosure of financial relationships.” Doing so will make disclosure easier for institutions and individuals that must report their financial relationships to more than one entity.

IOM also recommends that Congress create a national program that would require pharmaceutical, medical device, and biotechnology companies to publicly report payments to physicians, researchers, healthcare institutions, professional societies, patient advocacy and disease-specific groups, and providers of continuing medical education.

Read “Hospitals doing more to manage doctors’ industry ties,” a recent Medical Staff Briefing article to learn more.