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A recent New York Times article stated that one of the nation’s most esteemed psychiatrists did not report approximately $1.2million of income he received from consulting arrangements with drug makers for a period of seven years. From 2000 to 2007, Dr. Charles B. Nemeroff of Emory University, earned over $2.8million according to documents being examined by Congressional investigators. In 2004, Dr. Nemeroff signed a letter to Emory administrators promising that he would earn less than $10,000 a year from GlaxoSmithKline. If this were accurate, he would have complied with the federal rules. However, in 2004, Dr. Nemeroff actually earned $170,000 from GSK. Republican Senator Charles E. Grassley of Iowa is leading the inquiry. "After questioning about 20 doctors and research institutions, it looks like problems with transparency are everywhere," Mr. Grassley said. "The current system for tracking financial relationships isn't working." The main problem, suggested by the current Congressional findings, is that universities are failing to monitor their faculty members’ conflicts with the drug companies. In response, Mr. Grassley has sponsored the Physician Payment Sunshine Act that would require public disclosure by drug and device companies of payments to doctors over $500. While the National Institute of Health does have strict rules regarding conflicts of interest, it relies on universities to police the situation. What does this me ...
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