WHEREAS, the Board of Trustees of ECRI Institute has determined that it is in the best interest of ECRI Institute to establish and maintain conflict-of-interest rules that safeguard institutional integrity; and WHEREAS, ECRI Institute intends to authorize the taking of all appropriate action in connection with maintaining and enforcing its conflict-of-interest rules.
NOW THEREFORE BE IT RESOLVED, as follows: RESOLVED, ECRI Institute may not accept funds, directly or indirectly, from the medical device, pharmaceutical, or biotechnology industry as defined below except as payment for standard Institute publications, software, or other information services, whether in print or electronic format, at ECRI Institute's standard prices, provided to all parties in the interest of improved patient care and public safety.
FURTHER RESOLVED, No ECRI Institute employee may work or consult for, own stock in, or receive payment or gifts from the medical device, pharmaceutical, or biotechnology industry as defined below. Neither ECRI Institute nor its employees may accept speaking fees, travel funds for any purpose, entertainment, or other considerations that could possibly be construed, in ECRI Institute's judgment, as influencing a study or compromising the judgment of the employee or the integrity of ECRI Institute. Employees are expected to immediately disclose to their supervisors or our General Counsel any actual or implied act by an outside party to inappropriately influence ECRI Institute's assessments, evaluations, judgments, or actions.
FURTHER RESOLVED, Employees shall disclose whether their spouse and/or dependent is an officer, member, owner, shareholder, employee, or agent of a company in the medical device, pharmaceutical, or biotechnology industry. Any such disclosures shall be examined by ECRI Institute's Conflict-of-Interest Committee to determine ECRI Institute's response.
FURTHER RESOLVED, The federal income tax return of each ECRI Institute staff member shall be submitted to the Chief Financial Officer for review at the time of submission each year to IRS solely for the purpose of confirming that each employee has conformed to the Institute's conflict-of-interest rule stated above. Tax returns shall not be copied or retained in any way. The information in the returns shall be confidential and disclosed to ECRI Institute management only to the extent necessary to ensure compliance with the conflict-of-interest rule stated above.
FURTHER RESOLVED, A medical device, pharmaceutical, or biotechnology company is, for this purpose, defined as a manufacturing and/or marketing entity that derives more than 20% of its gross annual revenues from the development, manufacture, or sale of medical device, pharmaceutical, or biotechnology products.
FURTHER RESOLVED, The ECRI Institute welcomes examination of its financial records by any member of the healthcare community, medical product industry, or general public. Notwithstanding the provisions listed above, ownership of mutual funds, blind trusts, and similar investments in which the investor is insulated from participating in the fund's investment decisions are excluded from the above mentioned prohibitions.