Medical Device CEOs on Healthcare Compliance

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Current and past chairs of the AdvaMed Board’s Legal, Ethics and Healthcare Compliance Committees discussed critical healthcare compliance issues during the CEO Spotlight sessions at AdvaMed 2010. Daniel Meron, Partner, Latham & Watkins, LLP moderated.

Here are a few key excerpts plus the full-length video for a deeper dive:

  1. How do you deliver on promise of compliance?
    Implement systems, put the right people in place and show employees that it counts. For example, it cost them $50M to let a group of sales representatives go due to healthcare professional (HCP) violations. Timothy A. Pratt, EVP, CAO, General Counsel & Secretary, Boston Scientific
  2. How do you set tone from the top?
    Set a zero-tolerance policy. They have terminated some top sales representatives due to healthcare compliance (HCC) violations. Timothy M. Ring, Chairman & CEO, C. R. Bard, Inc.
  3. Why do these policies exist?
    Because of our core mission is to help physicians help patients. Creating and keeping trust is paramount. Jeffrey R. Binder, President & CEO, Biomet, Inc.
Vodpod videos no longer available.

Video courtesy of AdvaMed 2011, the MedTech tradeshow and originally posted on vimeo.

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4 responses to “Medical Device CEOs on Healthcare Compliance

  1. Pingback: Build a Strong Ethical Sales Culture in 4 Steps | Good Promotional Practices

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