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Home » These medical device companies provide the most research payments

These medical device companies provide the most research payments

January 31, 2020 By Danielle Kirsh

doctor-research-payments
[Image from unsplash.com]
The worlds largest medical device companies are spending tens of millions of dollars a year on research payments to doctors and teaching hospitals — but the payments only make up a tiny fraction of their budgets.

That was a big takeaway from an analysis of Medical Design & Outsourcing‘s annual Big 100 and the most recent data available on CMS Open Payments.

The world’s 20 biggest publicly-traded medtech companies made $159.9 million in research payments to doctors and teaching hospitals in 2018, spending an average of 0.1% of their annual revenue. On average, each company doled out 1.2% of its research and development spending to doctors and teaching hospitals in 2018.

Medtronic topped the list with $64 million in research payments to doctors and teaching hospitals. Those payments were 2.7% of its R&D spending and 0.2% of its annual revenue in 2019.

Research payments to doctors and teaching hospitals go toward research studies of certain devices from the company. Some studies are investigator-sponsored and evaluate the safety and efficacy of devices such as stents, leads, imaging devices and more.

Here is a breakdown of how the 10 companies with the most payments divvied up their research payments between doctors and teaching hospitals — and what the top payments from each company went toward.

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A note on our methodology: We evaluated the top 20 publicly-traded medical device companies in the world based on annual revenue and listed in Medical Design & Outsourcing‘s annual Big 100 to decide which companies to include and took a look at the most recent data available on the CMS Open Payments website.

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Filed Under: Business/Financial News, Cardiovascular, Catheters, Featured, Imaging, Implants, Neuromodulation/Neurostimulation, News Well, Orthopedics, Research & Development, Structural Heart, Vascular Tagged With: Abbott, becton dickinson, big data, Biosense Webster, Boston Scientific, DePuy Synthes, Ethicon, GE Healthcare, Johnson and Johnson, Medtronic, Philips, Siemens Healthineers, Stryker, Zimmer Biomet

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About Danielle Kirsh

Danielle Kirsh is an award-winning journalist and senior editor for Medical Design & Outsourcing, MassDevice, and Medical Tubing + Extrusion, and the founder of Women in Medtech and lead editor for Big 100. She received her bachelor's degree in broadcast journalism and mass communication from Norfolk State University and is pursuing her master's in global strategic communications at the University of Florida. You can connect with her on Twitter and LinkedIn, or email her at [email protected].

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