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In Reply: We agree with Dr Patmas that disclosure to patients would be appropriate. Ms Hampson and Dr Emanuel raise an important issue by asserting that "consulting to the investment industry by physicians . . . is not a conflict of interest." There are differences in the type of conflict of interest for traditional pharmaceutical and device companies compared with the investment industry—the latter is far more complex. A physician supplying advice may invest in the investment fund or have an interest in the fund, such that compensation relates to the fund’s profitability. Furthermore, the physician may invest in a particular company that represents a holding in the fund. Any of these relationships set up direct financial conflicts of interest.

For academic physicians, their financial interest may affect their judgment with respect to related research. For practicing physicians, the opportunity for gain associated with the success of a product on which their investment depends . . . [Full Text of this Article]

Eric J. Topol, MD
topole@ccf.org
Office of the Provost
Cleveland Clinic Lerner College of Medicine
Cleveland, Ohio

David Blumenthal, MD, MPP
Harvard Medical School
Boston, Mass

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