No health care facility wants to get caught like a deer in the headlights when an ugly, public conflict of interest arises for board members, physicians or other employees. But they often do, because collecting and managing conflict of interest data can be a big, confusing, never-ending hassle.
Hospital compliance departments have been responsible for managing financial disclosure statements, flagging conflicts of interest and coming up with management plans to address those potential conflicts for a variety of reasons—for the IRS reporting required for not-for-profit status, as well as regulations set up by the FDA, for researchers for National Institute of Health grants, other grant programs and contractual obligations, to name a few.
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