The Business of Medicine – Discrepancies in Conflict of Interest Policy
The Business of Medicine – Discrepancies in Conflict of Interest Policy Read More »
Conflicts of Interest
Conflicted advice and second opinions: Benefits, but unintended consequences.
Abstract Second opinions have been advocated as an antidote to bias in advice when primary advisors have conflicts of interest. In four experiments, we demonstrate how primary advisors alter their advice due to knowledge of the presence of a second advisor. We show that advisors give more biased advice and adopt a profit-maximizing frame when
Conflicted advice and second opinions: Benefits, but unintended consequences. Read More »
Nothing to declare: Mandatory and voluntary disclosure leads advisors to avoid conflicts of interest.
Abstract Professionals face conflicts of interest when they have a personal interest in giving biased advice. Mandatory disclosure—informing consumers of the conflict—is a widely adopted strategy in numerous professions, such as medicine, finance, and accounting. Prior research has shown, however, that such disclosures have little impact on consumer behavior, and can backfire by leading advisors
Physicians under the influence: Social psychology and industry marketing strategies.
Abstract Pharmaceutical and medical device companies apply social psychology to influence physicians’ prescribing behavior and decision making. Physicians fail to recognize their vulnerability to commercial influences due to self-serving bias, rationalization, and cognitive dissonance. Professionalism offers little protection; even the most conscious and genuine commitment to ethical behavior cannot eliminate unintentional, subconscious bias. Six principles
Physicians under the influence: Social psychology and industry marketing strategies. Read More »
Disclosing conflicts of interest in patient decision aids.
ABSTRACT Background In 2005, the International Patient Decisions Aid Standards (IPDAS) Collaboration developed quality criteria for patient decisions aids; one of the quality dimensions dealt with disclosure of conflicts of interest (COIs). The purposes of this paper are to review newer evidence on dealing with COI in the development of patient decision aids and to
Disclosing conflicts of interest in patient decision aids. Read More »
The burden of disclosure: Increased compliance with distrusted advice.
Abstract Professionals often face conflicts of interest that give them an incentive to provide biased advice, and disclosure (informing advisees about the conflict) is frequently proposed as a solution to the problem. We present 6 experiments that reveal a previously unrecognized perverse effect of disclosure: Although disclosure can decrease advisees’ trust in the advice, it
The burden of disclosure: Increased compliance with distrusted advice. Read More »
The unintended consequences of conflict of interest disclosure.
Abstract Conflicts of interest, both financial and nonfinancial, are ubiquitous in medicine, and the most commonly prescribed remedy is disclosure. The Medicare Payment Advisory Commission and the Accountable Care Act impose a range of disclosure requirements for physicians, and almost all medical journals now require authors to disclose conflicts of interest (although these requirements may
The unintended consequences of conflict of interest disclosure. Read More »