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Healthcare Can Learn from Mistakes of Financial Sector

Date: 16 September 2009

The healthcare profession must learn from the mistakes of the financial sector and ensure that a ‘value system’ that focuses on accountability and ethical obligations underpins all activity in the health area, according to Dr Ambrose McLoughlin, Registrar and CEO of the PSI (Pharmaceutical Society of Ireland), the pharmacy regulator.

Speaking at a symposium entitled ‘Ethics, Morals and Healthcare Professionals’ in the Science Gallery of Trinity College Dublin (TCD), hosted by the TCD School of Pharmacy and Pharmaceutical Sciences with the PSI, Dr McLoughlin said, “Looking at the experience of the financial sector and the governance deficits which contributed to its crisis, there are lessons to be learned by healthcare regulators and healthcare professionals. Unethical, improper conduct and regulatory incompetence had serious consequences and put the economic viability of many countries in jeopardy. The core deficit I believe was the lack of a ‘value system’ – essentially a focus on short-term gain without regard for accountability.

“I think it’s the opportune time for health systems to look at their ethical and moral obligations, the obligations that healthcare professionals, their educators and regulators have to patients, taxpayers and funders. Health professions need value systems which they assimilate during their education and training, which guide them in their professional decision-making and support their continuing professional development over their careers. This is critical for the health sector in Ireland so that what happened in the financial sector can’t happen in health.”

Dr McLoughlin added that there is an element of competition in healthcare which applies a pressure to the decision-making of professionals. “What is required is quality decision-making in the hands of competent people who can appreciate the consequences of their decisions and actions. Under the auspices of the Pharmacy Act 2007, the PSI is driving the modernisation of the pharmacy profession in Ireland. The Act has brought significant changes to the way the profession is regulated, to the roles and responsibilities of pharmacists and includes the adoption of a statutory Code of Conduct for pharmacists. The new legislative framework provides a unique opportunity for pharmacy and development of role of pharmacist and pharmacy services, in line with international practice, so pharmacists can contribute to patient value in a meaningful way. There is also now a non-pharmacist majority on the PSI Council, new registration systems, greater accountability and greater clarity about standards.”

Dr McLoughlin continued, “People who abuse their position of trust by ignoring their code of conduct or by condoning bad behaviour or who cover up for people, bring the name of the profession as a whole into disrepute. For example if a superintendent or supervising pharmacist know that a pharmacist under their supervision is not competent, then it is a very serious matter to cover for this person who may be putting innocent patients at risk. An important element of a value system is therefore that ‘good men’ far from ‘doing nothing’ will act in the interests of patients and not allow unethical or unprofessional circumstances to prevail.”

“Quality leadership in the professions is also essential with professions such as pharmacy totally dependent on the relationship they have with patients – the activities and services provided by professionals must demonstrate patient value and positive outcomes for patients,” added Dr McLoughlin.

Other speakers at the symposium included Professor Stephen Thoma, Co-ordinator, Educational Psychology Programme, University of Alabama, who presented ‘Moral Judgement Development In The Professions: An Overview Of The Empirical Findings’ and Professor Muriel Bebeau, School of Dentistry and Centre for Bioethics, University of Minnesota, who examined the evidence around whether ethics could be taught. The two US-based academics are in Dublin to lead a three-day inter-professional masterclass in Trinity College Dublin. This morning’s event was chaired by Senator Ivana Bacik, Professor School of Law, Trinity College Dublin and closed by Noeleen Harvey, President, PSI.

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