Medical device companies spent more money in non-research payments to physicians between 2014 and 2017 than drug companies, an analysis published Monday in the journal Health Affairs found. The payments covered services like royalties, consulting and speaking fees, as well as travel and food. Neurosurgery, orthopaedics and cardiology were among the surgical specialists most targeted by medtechs. – reported MedTechDive (6April 2021)
Payments from medical device companies totaled $3.6 billion, or $904 million per year during the period. Meanwhile, payments from drug companies totaled $3.3 billion, or $821 million per year. While totals were somewhat similar, medtech payments went to about 135,000 fewer physicians than the pharmaceutical industry, making medical device payments to individual physicians larger
The majority of medtech payments came from 10 big companies, including Medtronic, Johnson & Johnson, Zimmer Biomet, Stryker and Abbott Laboratories.