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Fair Market Value: Legal, Theoretical, and Practical Considerations 

Tuesday, May 8, 2012
This webinar is brought to you by AHLA's Life Sciences Practice Group and the Food, Drug, and Cosmetic Law Section of the New York State Bar Association and is co-sponsored by AHLA's Fraud and Abuse, Hospitals and Health Systems, Teaching Hospitals and Academic Medical Centers Practice Groups, and the Fair Market Value Affinity Group.

 New York State Bar Association

Description 

What is the fair market value (FMV) for services provided by a healthcare professional (HCP)? Why should we care? What are the issues and challenges when determining FMV for HCPs? How much is too much?

In the life sciences industry, it is commonplace for companies to engage HCPs as consultants. More often than not, these HCP consultants are also in a position to purchase, prescribe, or recommend the use of a company’s product(s), which can pose significant legal risk for the company if the arrangements with the HCPs are not handled properly. In addition, we have entered a new era of transparency and disclosure where spending on HCPs must be reported in accordance with several state laws and the new federal sunshine provisions under the Patient Protection and Affordable Care Act of 2010. These obligations, in addition to the continued government scrutiny of life science companies, require a renewed focus on FMV and the bona fide nature of services when engaging physicians and other HCP consultants.

During this webinar, panelists will explore the legal issues, practical business concerns, and a theoretical approach to addressing the FMV conundrum. They will also discuss the very real issue of the HCP that demands more than the company’s established fee for a service.

Presenters

 Moderator 

  • David S. Weinstock, Esquire
    Weston, CT
    Chair, CLE Committee
    Food, Drug, and Cosmetic Law Section
    NYSBA
    Albany, NY

 
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