For a majority of doctors, they pursue a career in medicine not for the money but in order to help people. Their education isn’t cheap, the level of stress is high, and the competitive atmosphere can push some students and professionals over the edge. It’s no secret the medical field is one of the most challenging careers an individual can pursue.
In the United States, it’s also one of the highest paying careers. One reason is due to many incentives offered by medical device and pharmaceutical companies.
It’s no secret that some doctors seek to earn more money by prescribing certain medications and treatments— a concept that doesn’t sit well with most of the public. And yet, nothing seems to have slowed down this incentive-based system, despite the many troubling articles that have linking drug companies to individual doctors.
According to a recent ProPublica analysis:
“More than 2,500 physicians have received at least half a million dollars apiece from drugmakers and medical device companies in the past five years alone.”
Out of that number, more than 700 physicians received a minimum of $1 million from the same companies in meals, gifts, travel expenses to conferences, free samples and even sponsorships to continue their education. “All” they have to do is recommend a particular company’s product (drug, medical device, etc.) and hide the negative side effects.
Top selling drugs in the U.S.
When it comes to the best selling pharmaceutical drugs, Xarelto, a blood thinner, was at the top of the list from 2015 to 2018. It’s closely followed by Invokana (Type II diabetes medication), Eliquis (blood thinner), Latuda (antipsychotic), Humira (immunosuppressive), and Aubagio (multiple sclerosis drug).
How overprescribing harms patients
Over 15 percent of Americans take 5 or more drugs every day. It’s easier to prescribe medications than it is to take patients off them — in part due to the clever advertising strategies by pharmaceutical companies.
Defective medical device companies are guilty too
Medications, pills and pharmaceutical drugs aren’t the only medical products being pushed. Medical device companies are also benefiting from doctors recommending such treatments to patients who don’t actually need it.
The problem with this approach is that this increases the risk that patients will be injured by a defective device or recalled drugs. In fact, patients who are over the age of 65 may be especially susceptible to the negative side effects of drugs and medical devices.
In an industry supposedly committed to human health and well-being, some medical device and pharmaceutical companies seem to have backward views on what they consider “helpful” to patients — or rather beneficial to their bottom line.
Don’t let yourself be a victim of clever marketing tactics. If you, a friend or a family member are suffering from a defective drug or medical device, fight back with an experienced Tennessee attorney at your side.
Gilreath & Associates has a dedicated team of professional product liability lawyers committed to ensuring you don’t become another victim of greedy pharmaceutical and medical device companies.
Contact us today for your free consultation.