Policy Executive Summary

Policy Title: Financial Conflict of Interest in Research

Executive Summary:

To set forth Phoenixville Hospital's policy and procedures for reporting and managing of financial conflict of interest (FCOI) in research.

Key Policy Information:

  1. A conflict of interest is considered to occur whenever investigator, sub-investigator, or key personnel has an existing or potential financial interest that impairs or appears to impair their independence and objectivity in the design, conduct, and reporting of research.
  2. Investigators, sub-investigators, and key personnel should avoid conflicts of interest and/or the potential for conflicts through financial arrangements with entities that have a special interest in a research project or its findings.
  3. All investigators, sub-investigators, and key personnel are required to submit a Financial Disclosure Form to the Institutional Review Board (IRB) Office annually (for non-exempt human subjects research) and within 30 days of discovering or acquiring a new financial interest that falls within the definition of what is reportable (refer to "conflict of interest" definition).

Key Policy Information:

  1. All Investigators, Sub-Investigators, Key Personnel, and others involved in the conduct of research at Phoenixville Hospital must complete FCOI training at the following times: prior to engaging in research; every 3 years thereafter; and immediately if:
    1. The FCOI in Research policy is revised in a way that affects the requirements of Investigators, Sub-Investigators, Key Personnel, and others involved in the conduct of research
    2. An Investigator is new to the Institution
    3. An Investigator is not in compliance with the FCOI policy or management plan