High-ranking physicians and executives at Partners HealthCare, which includes Massachusetts General and Brigham and Women’s hospitals, can no longer receive stock or unlimited fees for sitting on the boards of biotechnology and pharmaceutical companies, under new rules that took effect Friday.
Partners estimates that the policy affects roughly 25 vice presidents, clinical department heads, and other top executives who are directors for some of the nation’s leading drug companies. The rules limit their pay to $500 an hour, or $5,000 for a typical 10-hour day attending a board meeting; the rules ban executives and high-level physicians outright from taking company stock as compensation.'
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