Commission disclosure (including benefits in kind) has been standard in the financial services sector for more than twenty years. This is because the regulator seeks the risk of potential bias and unfairness where an advisor has an undisclosed link with a product provider. Indeed there have been multiple scandals over the years including mis-selling of endowment mortgages, personal pensions etc.
I don’t see why the medical sector should be any different. It seems GPs were financially incentivised to push Covid vaccines. That should have been disclosed to their patients.
Financial rewards should definitely be declared for any observer to determine the possibility of bias.
But that won’t solve the whole problem.
I saw a play in London last night. ‘Dr. Semmelweis’. He lived in the 19th century and discovered hand washing by medical staff resulted in a marked reduction in maternal and infant death.
He went against the establishment and clearly lost. He was a determined man, but not political and failed to convince the established doctors to see his science.
In those days it was less about a money trail, more about prestige, loss of face, ego and groupthink.
We should not forget these factors if we want to prevent this from happening again.
Enjoy
Commission disclosure (including benefits in kind) has been standard in the financial services sector for more than twenty years. This is because the regulator seeks the risk of potential bias and unfairness where an advisor has an undisclosed link with a product provider. Indeed there have been multiple scandals over the years including mis-selling of endowment mortgages, personal pensions etc.
I don’t see why the medical sector should be any different. It seems GPs were financially incentivised to push Covid vaccines. That should have been disclosed to their patients.
https://www.handbook.fca.org.uk/handbook/COBS/6/4.html
Financial rewards should definitely be declared for any observer to determine the possibility of bias.
But that won’t solve the whole problem.
I saw a play in London last night. ‘Dr. Semmelweis’. He lived in the 19th century and discovered hand washing by medical staff resulted in a marked reduction in maternal and infant death.
He went against the establishment and clearly lost. He was a determined man, but not political and failed to convince the established doctors to see his science.
In those days it was less about a money trail, more about prestige, loss of face, ego and groupthink.
We should not forget these factors if we want to prevent this from happening again.
Saturday, coffee and Heneghan. Perfect start to the weekend ;-)