How much does MiMedx pay physicians? We don't know and that's the problem
Posted on May 08, 2018 by Medtech[y] Staff
MiMedx not reporting Open Payment data has been written about at length. We asked the question in a post earlier this year and the Wall Street Journal had a fantastic piece asking the same questions a month later.
With all of the attention being given to MiMedx and their business practices, one would think any physician receiving payments from them would self report those payments. The last thing a physician needs is a target on their back because of their work with a company under DOJ and FBI investigation.
Marc Cohodes updated petiteparkerthebarker.com earlier and shared new physicians who are not reporting payments from MiMedx.
One of those physicians is Brandon Hawkins DPM, a Foot & Ankle surgeon out of Bakersfield, CA.
Below is an Instagram post of Hawkins giving a lecture on surgeries and wounds using Epifix.
Fair enough. Many physicians help medical device companies by lecturing to other physicians as those physicians typically prefer to learn from peers as opposed to sales reps. The company pays those physicians for their time. No big deal.
The problem is when you go to the Open Payment website and type in Hawkins name, you don't get any payment results from MiMedx. No surprise since we already addressed the issue of MiMedx not reporting payments to physicians.
When you dig down on the data, there is still nothing from MiMedx in the payment summary.
The caveat here is this Instagram post is from 2017 and the Open Payment results only go out to 2016. But we know how MiMedx executives feel about their need to report so they likely won't report in 2017 either.
From the WSJ article:
"Executives at MiMedx contend the company doesn't have to report its payments to physicians because its products are classified as tissues under Section 361 of the Public Health Service Act and it is therefore not a “applicable manufacturer.”
The problem with MiMedx not reporting physician payments and physicians not self reporting payments is it leaves a lot to the imagination. No one knows how much they are paid by MiMedx but we know MiMedx is in the middle of a lot of heat with the DOJ, FBI and short sellers.
A lot of questions and little answers = a wild imagination.
Dr. Hawkins may be a victim here. We don't know. All we know is he makes money from a company who has been less than truthful.
So it's not the best look when he posts to Instagram about buying a brand new Tesla.
Did this money come from being a great surgeon or because he's a highly paid speaker of a company under pressure?
Again, we don't know and that's the problem.