From its founding days as a dream shared by orthopaedic surgeon Bill Petty, his wife Betty, and biomedical engineer Gary Miller, PhD. Exactech has had a deep understanding of the impact and importance of the collaboration between industry and health care professionals. Advances in medical technology, innovation and patient care are fueled by these consultative relationships.
Exactech’s philosophy on Consultant relationships
To address growing concerns over such relationships and their potential risk of improperly influencing medical decision-making, it is Exactech’s policy and practice that the utilization of consulting services from health care professionals be documented in an approved Needs Assessment that identifies the Company’s bona fide commercially reasonable business needs. Consultants may be engaged by Exactech to provide a variety of legitimate services, such as designing and developing products, creating innovative surgical techniques, conducting clinical research or educating and training other surgeons around the world on the safe and effective use of our products.
In compliance with the Physician Payments Sunshine Act (section 6002 of the Affordable Care Act), Exactech discloses all payments and transfers of value made to physicians and teaching hospitals, which include all payments to consultants and consultant entities, to the Centers for Medicare and Medicaid Services (CMS). This information is available at the CMS website.