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LATEST NEWS UPDATES | Stent prices: Firms, doctors got away with looting -Rema Nagarajan

Stent prices: Firms, doctors got away with looting -Rema Nagarajan

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published Published on Jun 26, 2017   modified Modified on Jun 26, 2017
-The Times of India

NEW DELHI: The Modi government's efforts to cap the price of cardiac stents exposed the nexus between stent companies and hospitals in looting the public by overcharging them.

But no action has been taken against either companies or hospitals. None of them paid penalties or faced charges for colluding to cheat the public. Contrast this with the US government which has, over the years, fined the three biggest stent companies, Abbott, Medtronic and Boston Scientific, millions of dollars for charges ranging from bribing doctors to use their products to hiding defects in their device.

Yet, on the eve of PM Modi's visit to the US, lawmakers in that country supported these companies by urging India to reconsider its decision to cap stent prices.

This is despite the fact that before the price cap, India was paying among the highest prices for stents globally, even higher than in the US. Not only have stent companies been forced to cough up millions, the US department of justice (DoJ) also cracked down on more than 500 hospitals and reached settlements amounting to about $300 million on charges of inappropriate implantation of cardioverter defibrillators and stents.

Several cardiologists too have been fined and jailed for their role in such improper treatment.

According to the US DoJ website, the department has recovered more than $16.4 billion in cases involving fraud against federal health care programmes since January 2009. The US attorney stated that physicians should be making decisions on medical devices based on what is in the best interest of patients without being induced by payments from manufacturers competing for their business.

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The Times of India, 26 June, 2017, http://timesofindia.indiatimes.com/india/stent-prices-firms-doctors-got-away-with-looting/articleshow/59315122.cms


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