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I have been approached to be a drug company speaker (doing dinner talks, etc) and wondered about how they pay. If anyone does this, do they pay you with 1099? Thanks!
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They pay you as a consultant, hence a 1099. Be aware, thanks to the Sunshine act your income from Speaking engagements for pharma will now be posted and visible for anyone. It led to many docs giving up on doing this. However, pharma also cut back on it, instead spending more on direct consumer advertising. -
I have been approached to be a drug company speaker (doing dinner talks, etc) and wondered about how they pay. If anyone does this, do they pay you with 1099? Thanks!
I'm curious about the process for becoming a speaker - did you know the rep for a while and then they approached you? I'm interested in some extra income and am not opposed to speaking at dinners. Why should all of pharma's money be going to Chris Bosh and Phil Simms when they don't have loans to pay back? Kevin Nealon probably does need the money more than me though.Comment
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I actually just started in practice about 6 months ago and got along pretty good with one of the more talkative reps. Somehow we started talking about another doc in my group who does several talks for them and then she asked if I was interested since that doc was retiring soon. Her company requires minimum 3 talks a year. I think it's good if you believe in the product and were prescribing it prior to doing talks, otherwise it can be a little shady.
As far as the sunshine act goes, do you all think that patients really look at that? If they don't, then what does it really matter? Just curious since I'm just starting out and don't want to get the reputation as the guy who does all the drug talks and has no credibility...Comment
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As far as the sunshine act goes, do you all think that patients really look at that?
Yes they do. As do others in the community.Comment
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As far as the sunshine act goes, do you all think that patients really look at that?
IMHO - patients don't take the time to look at that stuff.
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As far as the sunshine act goes, do you all think that patients really look at that?
Yes they do. As do others in the community.
Completely disagree. I actually tried to look myself up and couldn't even figure out how. Nobody without an agenda is going to make the effort.Comment
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I actually tried to look myself up and couldn’t even figure out how. Nobody without an agenda is going to make the effort.
Really? It is the simplest thing to do. You type your first name and then last name in the big boxes.
Many people in the community have "an agenda". Newspapers, politicians, school boards, insurance salesmen, competing physicians...
I have been asked dozens of times about different doctors and the money they are collecting by patients and how the patient does not feel comfortable with that conflict of interest.
Very straightforward government website: https://openpaymentsdata.cms.gov/FirstName LastName SearchComment
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I don't think my patients care about that database, but I have insurance agents I'm arguing with look me up in it all the time.Helping those who wear the white coat get a fair shake on Wall Street since 2011Comment
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1099
Being a drug company speaker may reflect poorly on you. Your referring doctors will not appreciate you get paid $1500-$ 3000 for an engagement and your patients will have even less "understanding". It is easily checked with the openpayments data /CMS web site. ( my patients do check).
Disclosure: I have spoken for many companies and I would only speak for drugs I believe(d) in. I saw it more as a marketing opportunity for me and the fees were nice but not the driving force. I do think that the Sunshine act is good. I am grateful for it, because it was the push for me to stop speaking.Comment
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I stopped doing Sermo surveys they started saying they "might" report me to the database. I'd rather have a clean slate than $50.Helping those who wear the white coat get a fair shake on Wall Street since 2011Comment
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I stopped doing Sermo surveys they started saying they “might” report me to the database. I’d rather have a clean slate than $50.
I stopped doing drug surveys when I would go half way through the survey and then would be told that I did not qualify. The reimbursement for the surveys also has gone down and I refuse to be sold by a "survey" for a pittance. If I get paid less for survey than seeing patients, I prefer to see patients by a long shot.
And to add insult to injury, I found some of surveys have not paid me.
What I liked about doing surveys was to figure how they were trying to manipulate me or what new drug was coming to market.Comment
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In my opinion, this is more of a concern for the younger physician. As you get on down the road a bit...you could really care less what a couple of local Docs or a few persnickety patients think. Live your life..help people, teach, travel, etc..Comment
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Very helpful and interesting discussion - I thought about it this weekend and I think I will be holding off on speaking for a company for now (unless I'm really passionate about the drug) since I'm just starting out. The website supplied above is super easy to use so if patients found that site, I'm sure it should just as easy for them.Comment
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