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.
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.