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The Business of Healthcare Innovation is the first wide-ranging analysis of business trends in the manufacturing segment of the health care industry. In this leading edge volume, Professor Burns focuses on the key role of the 'producers' as the main source of innovation in health systems. Written by professors of the Wharton School and industry executives, this book provides a detailed overview of the pharmaceutical, biotechnology, genomics/proteomics, medical device and information technology sectors. It analyses the market structures of these sectors as well as the business models and corporate strategies of firms operating within them. Most importantly, the book describes the growing convergence between these sectors and the need for executives in one sector to increasingly draw upon trends in the others. It will be essential reading for students and researchers in the field of health management, and of great interest to strategy scholars, industry practitioners and management consultants.
For healthcare professionals, it is important to understand the difference between a good idea and a business opportunity. Innovation is crucial to the future of health care - especially with trends such as personal medicine and retail and consumer-driven healthcare driving fundamental changes in the value chain. Unfortunately, many of today's budding innovations never make it to market. Instead, they're sidetracked by the pressures of patient care and practice management or sabotaged by legal, financial and marketing issues. Now, more of these good ideas can succeed thanks to powerhouse new book, written expressly for physicians and healthcare professionals, by Luis Pareras, MD, PhD, MBA. This book explains how to nurture that entrepreneurial spirit and apply proven business principles to fast-track new ideas into valuable real-world devices and other medical breakthroughs. Clearing the obstacles to innovation, this unique book is an investment that will repay "physician-entrepreneurs" many, many times over with guidance for researching the competitive landscape, protecting intellectual property, developing the right business and marketing plans, getting funding and going to market. Topics include practical strategies on how to: * Motivate entrepreneurial thinking * Understand the difference between a good idea and an opportunity * Protect your intellectual property * Evaluate the real-world potential for a new innovation, device or product * Create a stellar business plan that fast-tracks progress * Identify the right investors and raise capital - the rules of the game * Make the right marketing and distribution decisions * Leverage "MBA skills" - deal-making, valuation, negotiation, strategy, communication and more ...
"Innovation and entrepreneurship are ubiquitous today, both as fields of study and as starting points for conversations among experts in government and economic development. But while these areas on continue to attract public and private investments, many measurements of their resulting economic growth-including productivity growth and business dynamism-have remained modest. Why this difference? Because not all business sectors are the same, and the transformative gains of some industries have been offset by stagnation or contraction in others. Accordingly, a nuanced understanding of the economy requires a nuanced understanding of where innovation and entrepreneurship occur and where they matter. Answering these questions allows for strategic public investment and the infrastructure for economic growth.The Role of Innovation and Entrepreneurship in Economic Growth, the latest entry in the NBER conference series, seeks to codify these answers. The editors leverage industry studies to identify specific examples of productivity improvements enabled by innovation and entrepreneurship, including those from new production technologies, increased competition, new organizational forms, and other means. Taken together, the volume illuminates whether the contribution of innovation and entrepreneurship to economic growth is likely to be concentrated, be it selected sectors or more broadly"--
Structured around the idea that innovation is at the core of successful entrepreneurship, New Venture Creation: An Innovator's Guide to Startups and Corporate Ventures, Second Edition by Marc H. Meyer and Frederick G. Crane is an insightful, applied-methods guide that establishes innovation as a necessary first step before writing a business plan or developing a financial model. With a focus on pragmatic methods, this guide helps students develop the innovative concepts and business plans they need to raise start-up capital.
"[This book is] the most authoritative assessment of the advantages and disadvantages of recent trends toward the commercialization of health care," says Robert Pear of The New York Times. This major study by the Institute of Medicine examines virtually all aspects of for-profit health care in the United States, including the quality and availability of health care, the cost of medical care, access to financial capital, implications for education and research, and the fiduciary role of the physician. In addition to the report, the book contains 15 papers by experts in the field of for-profit health care covering a broad range of topicsâ€"from trends in the growth of major investor-owned hospital companies to the ethical issues in for-profit health care. "The report makes a lasting contribution to the health policy literature." â€"Journal of Health Politics, Policy and Law.
Health-Care Solutions from a Distant Shore Health care in the United States and other nations is on a collision course with patient needs and economic reality. For more than a decade, leading thinkers, including Michael Porter and Clayton Christensen, have argued passionately for value-based health-care reform: replacing delivery based on volume and fee-for-service with competition based on value, as measured by patient outcomes per dollar spent. Though still a pipe dream here in the United States, this kind of value-based competition is already a reality--in India. Facing a giant population of poor, underserved people and a severe shortage of skills and capacity, some resourceful private enterprises have found a way to deliver high-quality health care, at ultra-low prices, to all patients who need it. This book shows how the innovations developed by these Indian exemplars are already being practiced by some far-sighted US providers--reversing the typical flow of innovation in the world. Govindarajan and Ramamurti, experts in the phenomenon of reverse innovation, reveal four pathways being used by health-care organizations in the United States to apply Indian-style principles to attack the exorbitant costs, uneven quality, and incomplete access to health care. With rich stories and detailed accounts of medical professionals who are putting these ideas into practice, this book shows how value-based delivery can be made to work in the United States. This "bottom-up" change doesn't require a grand plan out of Washington, DC, agreement between entrenched political parties, or coordination among all players in the health-care system. It needs entrepreneurs with innovative ideas about delivering value to patients. Reverse innovation has worked in other industries. We need it now in health care.
Book Overview1. Entrepreneurs and Startups2. Doctors, Nurses, and Health Professionals3. Pharma, Biotech, Device Companies4. Patients and Consumers5. Employers, Insurers, Regulators6. Gadgets, Apps, Technology7. Behavior, Design, and Translation8. Big Data, Measurement, and Metrics9. VCs and Other Investors10. Innovation---Health matters.“When you have your health, you have everything,” wrote memoirist Augusten Burroughs. “When you do not have your health, nothing else matters at all.”Health can also be very expensive, and reducing costs isn't easy, since as Stanford health policy expert Victor Fuchs famously observed, “Every dollar of waste is income to some individual or organization.”One key challenge healthcare faces today is figuring out how to maintain health and deliver better care for patients while somehow keeping in check the overall costs associated with these activities.The good news is that there is now the massive potential for healthcare transformation. Data-driven analysis has called into question many traditional healthcare assumptions, and permits us to view the challenges in a fresh light. For instance, there seems to be little correlation between healthcare cost and quality—and great care can be delivered at lower cost if we can improve the alignment of incentives among patients, payers, and providers.Key drivers of healthcare change are the intense economic pressure of healthcare costs, the impact—to be determined—associated with the implementation of the Affordable Care Act, and the advent of inexpensive and widely accessible technologies; together these have created a platform for industry transformation the likes of which has not been seen since the dawn of modern surgery.And it's about time. Technology has been used to optimize and redefine virtually every key industry except healthcare. Manufacturing has gone from human assembly lines to robotics; banking has gone from tellers to home banking; travel has gone from agents with brochures to Travelocity; and yet the practice of medicine, in many ways, hasn't changed in decades.Many of today's most passionate entrepreneurs are trying to bring the dazzle and real promise of technology innovation to the challenges of healthcare, resulting in an explosion of companies focused on everything from wearable sensors and weight-loss apps to big data analytics and GPS-tagged hospital equipment—the “internet of things.”These emerging tools and promising technologies—which collectively comprise “digital health”—offer a promising path forward, and entrepreneurs and innovators are forging forward seeking to make a real difference in a field which we all need but which is sorely in need of its own tender loving care if it is to flourish in tomorrow's world.As Hippocrates once said, “Healing is a matter of time, but it is sometimes also a matter of opportunity.” And technology—if judiciously applied—may be just the tonic to help reinvigorate the health of our healthcare industry.The key challenge faced by would-be disruptive technologists is not only recognizing potentially useful analogs from other industries, but also understanding the ways in which health remains fundamentally different.Amid the clamor to disrupt healthcare, we should also take care to preserve and augment what may be right about medicine—the doctor/patient relationship for example, or the drive of inquisitive physicians, especially within academic centers, to continuously push and challenge the limits of what is known and what is possible.In Tech Tonics—a distillation of our writing and thinking over the last several years—we introduce the reader to the fascinating digital health space, including a ground-level view of the landscape, the structural challenges, the players, and the progress.
"This book defines nascent entrepreneurship as the process of creating of a new business venture and provides entrepreneurs, researchers and the business world with a publication on the contribution of nascent entrepreneurship to the business world"--
How can management be developed to create the greatest wealth for society as a whole? This is the question Peter Drucker sets out to answer in Innovation and Entrepreneurship. A brilliant, mould-breaking attack on management orthodoxy it is one of Drucker’s most important books, offering an excellent overview of some of his main ideas. He argues that what defines an entrepreneur is their attitude to change: ‘the entrepreneur always searches for change, responds to it and exploits it as an opportunity’. To exploit change, according to Drucker, is to innovate. Stressing the importance of low-tech entrepreneurship, the challenge of balancing technological possibilities with limited resources, and the organisation as a learning organism, he concludes with a vision of an entrepreneurial society where individuals increasingly take responsibility for their own learning and careers. With a new foreword by Joseph Maciariello