Ethical business needed

  • 📰 PhilstarNews
  • ⏱ Reading Time:
  • 59 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 27%
  • Publisher: 94%

World Health Organization News

When the objectivity of a doctor’s professional judgment is compromised by a secondary interest, this could lead to a physician-induced demand for healthcare, the prescription of medicines and procedures that are unnecessary, inappropriate and more costly than available alternatives.

According to one report, in 2018, the World Health Organization estimated the global pharmaceutical market to be worth $1.4 trillion, indicating the substantial economic power that this industry has to influence policymaking and regulation at both global and national levels.

According to a news report, Asian Hospital and Medical Center and other hospitals under Metro Pacific Health issued an email to their staff members to remind them of absolute compliance with anti-bribery and anti-corruption laws, together with disclosure regarding conflicts of interest. Then there is the Physician Self-Referral Law, commonly referred to as the Stark law, which prohibits physicians from referring patients to receive designated health services payable by Medicare or Medicaid from entities with which the physician or an immediate family member has a financial relationship. This includes both ownership/investment interests and compensation arrangements.

This means putting profit above the welfare of patients, and this will do more harm than good to our society. The pursuit of profit should not come at the cost of exploiting patients. And what about the practice among medical representatives of bribing doctors with foreign trips and conferences? In some countries, this practice of visiting doctors in public hospitals to talk about their drugs or medicines is frowned upon and considered a waste of public time and resources.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 1. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Leveraging data for business sustainabilityTODAY, companies are quick to embrace sustainability measures in their operations through action plans that adhere to the Environmental, Social, and Governance (ESG) goals in relation to a company's impact on climate change, human rights, diversity, employee well-being and ethical governance.
Source: TheManilaTimes - 🏆 2. / 92 Read more »