Campaign Legal Center Reacts to President-elect Trump Naming Dr. Oz to Lead the Centers for Medicare and Medicaid Services

This week, President-elect Donald Trump chose doctor and TV personality Mehmet Oz to run the Centers for Medicare and Medicaid Services (CMS). Kedric Payne — CLC’s vice president, general counsel and senior director, ethics — released the following statement in response to this developing story:

“The nomination of Dr. Mehmet Oz to lead the Centers for Medicare & Medicaid Services (CMS) is deeply concerning given the ethical implications of his past holdings in healthcare industry stocks. 

“Elected and appointed leaders must prioritize the public good over their own financial interests. Dr. Oz’s past holdings in healthcare, insurance and pharmaceutical companies raise serious concerns about the conflicts of interest he may have as CMS Administrator.” 

“Dr. Oz has held significant stock in health insurance giants including United Healthcare and Cigna, and in the pharmaceutical company CVS. If confirmed to this position, Dr. Oz will hold sway over how Medicare is administered and could make decisions that make those stocks more valuable while adversely impacting the healthcare of millions of Americans.

“Dr. Oz’s holdings would raise questions about his ability to impartially run drug coverage programs under Medicare and Medicaid, as decisions CMS leadership can make about the way these programs operate and negotiate prices can impact those holdings.  

“These possible conflicts — made public thanks to transparency laws — could lead to an influx of wealth for Dr. Oz if he is confirmed as CMS Administrator. Voters have a right to know about these conflicts of interest so that he (and others in leadership positions) can be held accountable. These factors should be of utmost consideration throughout the nomination process and should weigh heavily on each and every Senator poised to vote on his confirmation.”