December 5, 2019 –
Industry group Advamed counts a wide range of medical device companies in its membership, and as such, its revised and restated code of ethics for interacting with US-based HCPs carries a fair amount of influence.
Taking effect on January 1, 2020, the updated guidelines lay out the importance of, and benefits provided by, interactions between HCPs and medical device companies. The document is divided into 13 sections that codify and provide guidance on most facets associated with engaging HCPs. Examples of these sections include:
- Prohibition on entertainment and recreation
- Guidance on educational and benefit items
- Best practices for enlisting HCPs for consultation services.
Overall, the updated guidelines aim to modernize the language, examples, FAQs and standards set in the 2009 version. Changes include new sections covering off-label communications, technical assistance in a clinical setting and use of fair market value (FMV). Sections covering FMV primarily assess its utility in guiding company-HCP interactions and in establishing appropriate levels of payment based on service. Click here to read AdvaMed’s revised code of ethics.
Click here to contact Cutting Edge Information for more guidance and information on fair market value data.
ABOUT THE AUTHOR
Todd Middleton is a senior research analyst at Cutting Edge Information. In this position, he provides qualitative FMV information for in-house and external use to ensure compliant HCP engagements. As an analyst, Mr. Middleton affirms that accurate data, in combination with topical research, can ensure successful life science company compliance. He is a graduate of the College of Charleston.