Edwards Lifesciences’ Financial Relationships with U.S. Physicians
|Edwards Lifesciences was built on a foundation of collaboration with physicians. More than 50 years ago, an engineer and a physician began working together to develop the world’s first commercially available heart valve. The partnership between our founder, Miles “Lowell” Edwards, and Dr. Albert Starr was the catalyst for developing a series of heart valve technologies that have transformed patient care and kept Edwards’ products at the forefront of innovation. |
Today, the continued evolution of medical technology at Edwards remains dependent on these important relationships. In addition, physicians around the world rely on training and education sponsored by Edwards to help advance their understanding of the latest developments in medical techniques. The best trainers of physicians are usually other physicians, and Edwards is proud to provide funding to facilitate that sharing of expertise.
Our relationships with physicians cover a broad spectrum, including:
- Proctoring/training/speaking arrangements in which physicians provide “hands-on” training or educational lectures to other physicians;
- Research agreements in which physicians provide expert medical advice and knowledge regarding Edwards’ products and services; and/or
- Royalty/licensing arrangements in which physicians assist Edwards in the design, development and patenting of new medical technologies.
| || || || |
Edwards’ Voluntary Physician Payment Reporting Program
Edwards believes that bringing transparency to our relationships with physicians will help the public better understand the critical role they play in the advancement of medical technology and patient care.
In 2008, we announced that we would publish the names of U.S. physicians who received $5,000 or more per year from the company for speaking fees, consulting services, appropriate business-related travel and meal expenses, and/or royalty payments. The results for 2009, 2010, 2011 and 2012 are as follows:
2009 Payments to U.S. Physicians
2010 Payments to U.S. Physicians
2011 Payments to U.S. Physicians
2012 Payments to U.S. Physicians
Effective 2013, manufacturers of pharmaceuticals and medical devices including Edwards are required to report payments and transfers of value that are made to covered recipients (physicians or teaching hospitals) to CMS (Centers for Medicare and Medicaid Services).
We have already been voluntarily reporting this type of information since 2009 on our website, and now the HCP interactions will be publically available through a CMS sponsored website: http://go.cms.gov/openpayments
Edwards has adopted the AdvaMed Code of Ethics on Interactions with Health Care Professionals, has implemented policies and procedures to implement the Code as part of its compliance program, and certifies annually that it will abide by the Code.