Readership Awareness Series - Paper 2: Conflict of Interest
Abstract
A ‘Conflict of Interest (COI)’ is a broad term that can encompass anything and everything; hence it is hard to define it accurately. Although the definition can be contextual, several similar definitions are used across healthcare by different organizations. “A conflict of interest can be defined as any situation in which a decision (or an action) taken by a professional in his/her duty is influenced by his/her relationship with a third party, providing directly or indirectly to the professional and/or to the third party, personal benefits whether financial or not.” “The potential for conflict of interest and bias exists when professional judgment concerning a primary interest (such as patients’ welfare or the validity of research) may be influenced by a secondary interest (such as financial gain).” “The term “conflict of interest (COI) in research” refers to situations in which financial or other personal considerations may compromise — or have the appearance of compromising — an investigator’s professional judgment in conducting or reporting research.” There are several ways to classify COI. Financial COI is common and more easily recognized than non-financial COI (NFCOI). Financial COI can be direct or indirect and include employment, consultancy, honoraria, royalties, stock ownership, paid expert testimony, paid advisory boards, industry speakers bureau, patent applications or registrations, intellectual properties, industry-sponsored travel and conference grants, and…
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