Edwards Lifesciences will voluntarily disclose financial relationships with U.S. physicians in 2009.
“Medical innovation is dependent on these physician partnerships, and we believe that bringing transparency to these relationships will help the public better understand the critical role they play in the advancement of medical technology and patient care,” said Michael A. Mussallem, chairman and CEO of Edwards.
The Irvine, Calif.-based Edwards said it will post on its website its financial relationships with physicians who receive $5,000 or more a year in consulting fees, royalties or honoraria from Edwards, will begin targeted tracking of the data on Jan. 1, and will publish it annually beginning in the second half of 2009.
“We've been supportive of federal legislation that would require all companies to disclose this information. As we build the systems to improve tracking and reporting of this kind of information, we anticipate implementing an even more comprehensive disclosure policy in future years. In the meantime, we hope that launching this voluntary program in advance of a federal mandate can help inform the debate as we learn from our experience,” Mussallem said.