South Korea will implement measures to enhance transparency in the relationship between healthcare professionals and pharmaceutical and medical device companies. (Image courtesy of Kobiz Media)
SEOUL, Mar. 22 (Korea Bizwire) – Starting this year, South Korea will implement measures to enhance transparency in the relationship between healthcare professionals and pharmaceutical and medical device companies.
The Ministry of Health and Welfare has announced guidelines for compiling reports detailing the economic benefits provided to doctors and pharmacists.
In 2021, amendments were made to the Pharmaceutical Affairs Act and the Medical Devices Act to increase transparency and self-regulation in transactions involving pharmaceuticals and medical devices.
From this year onward, suppliers of these products are required to prepare and disclose reports on the economic benefits they provide.
These reports will detail the financial advantages extended to physicians, pharmacists, and other healthcare professionals by pharmaceutical companies, medical device manufacturers, and distributors.
Under current laws, such benefits may include product samples, support for academic conferences, clinical trial funding, product explanation meetings, post-marketing surveillance, discounts based on payment terms, and medical devices for performance verification prior to purchase.
Through these disclosure reports, the public will have access to information about medical institutions and academic conferences that received economic benefits from suppliers, as well as the amounts provided.
In accordance with the enforcement rules of the amended acts, the names of healthcare professionals and clinical trial details included in the reports will be anonymized to protect personal information and prevent potential legal issues or deterrence of legitimate clinical trials.
“The economic benefits reported are legal, but disclosing real names could lead to privacy violations and legal problems, while also potentially discouraging legitimate clinical trials,” explained Nam Hoohee, director of the Pharmaceutical Policy Division.
The guidelines cover the information subject to anonymization, report formats, and examples to assist in the preparation of these disclosure reports. They can be found on the website of the Health Insurance Review and Assessment Service as well as he websites of other industry organizations.
M. H. Lee (mhlee@koreabizwire.com)
