HomeUploadUpload DirectHotlinkRandomAbouttheme toggle
Expand

The Medical Conflict of Interest Mania: Dr. Thomas Stossel on Physician Regulation

Views:1002
@ReasonVids

If the real-world consequences weren't so severe, Dr. Thomas Stossel's favorite anecdote would be a forgettable joke, instead of an unfortunate comment on the current practice of medicine.

The anecdote goes like this:

An enterprising reporter is writing a story about medical conflict of interest. He approaches Dr. Stossel, who's been extolling the benefits of a drug invented by Pfizer.

"I see, Dr. Stossel, you got $2,000 from Pfizer!"

"Yeah, it's because I add value," replies Stossel. "If I didn't, I'd be a reporter."

Dr. Stossel tells the joke, not with a smile, but with a weary glower of frustration. He is, after all, describing an uphill battle, fought against the mainstream media and his fellow doctors, that has occupied a significant part of his working life. It is the task of convincing the public that medical conflict of interest laws are hurting the practice of medicine.

Stossel knows a few things about the intersection of medicine and money. He's the American Cancer Society professor of medicine at Harvard Medical School and an accomplished researcher of cellular biology. He spoke at Reason Weekend in St. Petersburg, Florida, to deliver a contrarian take on a subject that has drawn national media attention: the excessive regulation of financial arrangements between physicians and the pharmaceutical industry.

Stossel cites the unintended consequences of legislation like the Physician Payments Sunshine Act, which was enacted as part of Obamacare. Greater transparency in medical care may seem like a worthy goal, but only when its supporters fail to account for the full cost of the law. The legislation, he says, is "300 pages of legal gibberish," which mandates disclosure of payments as low as $10 to doctors. Billions of dollars every year will be spent on compliance with these regulations -- money that will be diverted away from medical research that improves our lives.

Over the last ten years, new legal strategies based on charges of "false claims" are used to comply with the law or pressure companies to quickly settle lawsuits. Underlying these accusations is the threat of debarment, a set of harsh financial penalties, which Stossel describes as, "arguably the most damaging aspect of the conflict of interest mania."

Above all, Stossel hopes to discredit allegations that the for-profit medical industry is fundamentally criminal. He argues that marketing practices employed by pharmaceutical companies do not distort physicians' ability to discern fact from fiction. On the contrary, marketing can encourage doctors to learn about the latest developments in medicine. In the absence of conflict of interest regulation, researchers were better rewarded for successful drug development. Steady declines in rates of mortality from cancer, heart disease, and HIV-AIDS over the last decades would not have occurred if financial arrangements were as corrupting a force as critics have charged.

Having spent much of the last ten years trying to persuade people otherwise, today Dr. Stossel is pessimistic about the future of medical conflict of interest regulations. "We've been wimps, especially the industry," he says of a medical establishment that's afraid to stand up for its own interests as well as the public good.

As a result, Stossel's message has struggled to gain traction against an army of what he calls "instigators" (well-meaning activists) and "enablers" (institutional authorities). Yet he continues to lecture, speak before Congress, and write opinion articles, hoping that a solution may someday arise from the general public.

Runs about 31 minutes.

Edited by Todd Krainin. Cameras by Paul Feine and Zach Weismueller.

Visit http://reason.com/reasontv/2014/06/18/the-medical-conflict-of-interest-mania-d for downloadable versions of this video, and subscribe to Reason TV's YouTube channel for daily content like this.

conflict of interest (literature subject)
,
medicine (field of study)
,
pharmaceutical industry (industry)
,
ethics (quotation subject)
,
reason (magazine)
,
regulation (organization sector)
,
stossel (tv program)
,
john stossel (tv writer)
,
libertarianism (political ideology)
,
regulation
,
physician (profession)
    Thumbnail for Nirvana's Krist Novoselic on Punk, Politics, & Why He Dumped the Dems55:45
    Nirvana's Krist Novoselic on Punk, Politics, & Why He Dumped the Dems
    ReasonVids
    949 views
    Thumbnail for What Afghans Think About Bergdahl, the Taliban, and U.S. Intervention: Q&A with Author Anand Gopal6:10
    What Afghans Think About Bergdahl, the Taliban, and U.S. Intervention: Q&A with Author Anand Gopal
    ReasonVids
    819 views
    Thumbnail for The Woke Bolshevik Revolution - ROBERT SEPEHR18:03
    The Woke Bolshevik Revolution - ROBERT SEPEHR
    AOU
    1009 views
    Thumbnail for The Land of My Ancestors.6:14
    The Land of My Ancestors.
    bestofvoatxyz
    611 views
    Thumbnail for Remy: Obamacare Video Contest Song1:31
    Remy: Obamacare Video Contest Song
    ReasonVids
    849 views
    Thumbnail for Ralph Nader Q&A: How Progressives and Libertarians Are Taking on Corrupt Dems and Reps.1:04:31
    Ralph Nader Q&A: How Progressives and Libertarians Are Taking on Corrupt Dems and Reps.
    ReasonVids
    768 views
    Thumbnail for This is an ad being pushed by Israeli propagandists. Apparently it's meant to earn the sympathies of Europeans  The arrogance is astounding.0:52
    This is an ad being pushed by Israeli propagandists. Apparently it's meant to earn the sympathies of Europeans The arrogance is astounding.
    AOUisgay
    476 views
    Thumbnail for EPA is shut down by SCOTUS. Does not have power to set climate standards4:11
    EPA is shut down by SCOTUS. Does not have power to set climate standards
    SingularityJett
    819 views
    Thumbnail for "Who tha fuck you talking to dawg?"  Mag dump.  "Really?"0:34
    "Who tha fuck you talking to dawg?" Mag dump. "Really?"
    bestofupgoat
    405 views
    Thumbnail for Freedomain Radio's Stefan Molyneux on the Inevitable Growth of the State5:32
    Freedomain Radio's Stefan Molyneux on the Inevitable Growth of the State
    ReasonVids
    878 views
    Thumbnail for When Prosecutors Withhold Information, Innocent People Go To Prison—or Worse.10:07
    When Prosecutors Withhold Information, Innocent People Go To Prison—or Worse.
    ReasonVids
    876 views
    Thumbnail for I made cross half-lap joint with dovetailed #shorts | TWCDesign1:00
    I made cross half-lap joint with dovetailed #shorts | TWCDesign
    invidious
    118 views
    Thumbnail for Ball Lightning in Texas0:40
    Ball Lightning in Texas
    bestofupgoat
    51 views
    Thumbnail for Rebuilding Men From Mediocrity | Live From The Lair27:42
    Rebuilding Men From Mediocrity | Live From The Lair
    Terrence Popp
    725 views
    Thumbnail for Classical Christmas Music & Fireplace 24/7 | Orchestral Christmas Music1:00
    Classical Christmas Music & Fireplace 24/7 | Orchestral Christmas Music
    invidious
    320 views
    Thumbnail for When you've run out of platforms0:09
    When you've run out of platforms
    bestofvoatxyz
    792 views
    Thumbnail for Nigger confused by alien technology1:29
    Nigger confused by alien technology
    voatcatbox
    1264 views
    Thumbnail for The Future of Legal Pot Under Trump: Marijuana Entrepreneurs Speak Out6:07
    The Future of Legal Pot Under Trump: Marijuana Entrepreneurs Speak Out
    ReasonVids
    898 views
    Thumbnail for The Relentless Revolution: Joyce Appleby on the History of Capitalism8:03
    The Relentless Revolution: Joyce Appleby on the History of Capitalism
    ReasonVids
    835 views
    Thumbnail for Generation Opportunity, Politics, and Millennials: Q/A with Evan Feinberg5:51
    Generation Opportunity, Politics, and Millennials: Q/A with Evan Feinberg
    ReasonVids
    954 views
    Thumbnail for Married man has amazing revelations.1:27
    Married man has amazing revelations.
    bestofupgoat
    130 views
    Thumbnail for The War on Lemonade Stands! Nanny of the Month (June 2011)1:14
    The War on Lemonade Stands! Nanny of the Month (June 2011)
    ReasonVids
    988 views
    Thumbnail for Net Neutrality for Dummies: Will the FCC control the Internet?4:29
    Net Neutrality for Dummies: Will the FCC control the Internet?
    ReasonVids
    874 views
    Thumbnail for 【LIVE】TVBS NEWS午間整點新聞 重點直播 Taiwan News 20250107 | TVBS NEWS2:00:00
    【LIVE】TVBS NEWS午間整點新聞 重點直播 Taiwan News 20250107 | TVBS NEWS
    invidious
    98 views
    Thumbnail for Doom II: Hell Revealed II - MAP19: Mind Trap (Ultra-Violence 100%) | decino27:20
    Doom II: Hell Revealed II - MAP19: Mind Trap (Ultra-Violence 100%) | decino
    invidious
    406 views

points

Permalink
Reply
conflict of interest (literature subject)
,
medicine (field of study)
,
pharmaceutical industry (industry)
,
ethics (quotation subject)
,
reason (magazine)
,
regulation (organization sector)
,
stossel (tv program)
,
john stossel (tv writer)
,
libertarianism (political ideology)
,
regulation
,
physician (profession)
TOS  •  Add Keywords  •  Donate  •   Analytics  •   DMCA  •   Puzzle