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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.
Today, a hurricane is forming, and businesses are headed straight into it. This hurricane is arising from the convergence of several enormous trends in information technology, including cloud, mobility, Software as a Service, and Big Data. In Inflection Point, Scott Stawski shows how to harness these fierce winds of change, put them at your back, and sail towards greater competitiveness and customer value. Stawski explains the strategic implications of today’s new technology paradigms, helping you reshape strategy to embrace and profit from them. You’ll discover how technology and other factors are driving a radical new round of disintermediation, reintermediation, and disruption–and what that means to you and your company. Stawski shows how to go beyond inadequate incremental improvements, dramatically reducing IT spend and virtually eliminating IT capital expenditures. One meaningful step at a time, you’ll learn how to transform Operational IT into both a utility and a true business enabler, bringing new speed, flexibility, and focus to what really matters: your true core competencies. BUILD A CONTINUAL TRANSFORMATION ENVIRONMENT THAT’S READY FOR ANYTHING Focus on high-value core competencies, not fixed assets or unchanging processes CONSUME IT THE WAY YOU CONSUME ELECTRICITY Stop running data centers, buying software, and managing applications–forever! LEVERAGE THE CLOUD’S SIMPLICITY WITHOUT LOSING CONTROL OR SECURITY Use standards and governance to maximize cloud benefits with minimal risk HARNESS THE PRECIOUS ASSET YOU MUST ALWAYS KEEP CLOSE: DATA Build data-centric operations to deliver the right knowledge, right now, wherever it’s needed
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.
Modern mental health issues are characterized by their complex, multi-systemic nature and broad societal impact, making them poorly suited to siloed approaches of thinking and innovation. Convergence science integrates knowledge, tools, and thought strategies from various fields and is the focal point where novel insights arise. Convergence Mental Health presents a blueprint for leveraging convergence science within the context of mental health in order to improve patient outcomes and health care systems.
How can a smartwatch help patients with diabetes manage their disease? Why can’t patients find out prices for surgeries and other procedures before they happen? How can researchers speed up the decade-long process of drug development? How will "Precision Medicine" impact patient care outside of cancer? What can doctors, hospitals, and health systems do to ensure they are maximizing high-value care? How can healthcare entrepreneurs find success in this data-driven market? A revolution is transforming the $10 trillion healthcare landscape, promising greater transparency, improved efficiency, and new ways of delivering care. This new landscape presents tremendous opportunity for those who are ready to embrace the data-driven reality. Having the right data and knowing how to use it will be the key to success in the healthcare market in the future. We are already starting to see the impacts in drug development, precision medicine, and how patients with rare diseases are diagnosed and treated. Startups are launched every week to fill an unmet need and address the current problems in the healthcare system. Digital devices and artificial intelligence are helping doctors do their jobs faster and with more accuracy. MoneyBall Medicine: Thriving in the New Data-Driven Healthcare Market, which includes interviews with dozens of healthcare leaders, describes the business challenges and opportunities arising for those working in one of the most vibrant sectors of the world’s economy. Doctors, hospital administrators, health information technology directors, and entrepreneurs need to adapt to the changes effecting healthcare today in order to succeed in the new, cost-conscious and value-based environment of the future. The authors map out many of the changes taking place, describe how they are impacting everyone from patients to researchers to insurers, and outline some predictions for the healthcare industry in the years to come.
Daniel M. Fox gives an incisive assessment of the critical collaboration between researchers and public officials that has recently emerged to evaluate the effectiveness and comparative effectiveness of health services. Drawing on research as well as his first-hand experience in policymaking, Fox's broad-ranging analysis describes how politics, public finance and management, and advances in research methods made this convergence of science and governance possible. The book then widens into a sweeping history of central issues in research on health services and health governance during the past century. Returning to the past decade, Fox looks closely at how policy informed by research has been made and implemented in public programs that cover pharmaceutical drugs in most American states. This case study illuminates how politics has informed the questions, methods, and reception of research on health services, and also sheds new light on how research has informed politics and public management. Looking toward the future, Fox describes the promise, as well as the fragility, of the convergence of science and governance, making his book essential reading for those struggling to revise health care in the United States over the next several years.
“During a time of tremendous change and uncertainty, Healthcare Disrupted gives executives a framework and language to determine how they will evolve their products, services, and strategies to flourish in a increasingly value-based healthcare system. Using a powerful mix of real world examples and unanswered questions, Elton and O’Riordan lead you to see that ‘no action’ is not an option—and push you to answer the most important question: ‘What is your role in this digitally driven change and how can your firm can gain competitive advantage and lead?’”—David Epstein, Division Head, Novartis Pharmaceuticals “Healthcare Disrupted is an inspirational call-to-action for everyone associated with healthcare, especially the innovators who will develop the next generation of therapeutics, diagnostics, and devices.”—Bob Horvitz, Ph.D., David H. Koch Professor of Biology, MIT; Nobel Prize in Physiology or Medicine “In a time of dizzying change across all fronts: from biology, to delivery, to the use of big data, Health Disrupted captures the impact of these forces and thoughtfully develops new approaches to value creation in the healthcare industry. A must-read for those who strive to capitalize on change and reinvent the industry.”—Deborah Dunsire, M.D., president and CEO, FORUM Pharmaceuticals Healthcare at a Crossroad: Seismic Shifts, New Business Models for Success Healthcare Disrupted is an in-depth look at the disruptive forces driving change in the the healthcare industry and provides guide for defining new operating and business models in response to these profound changes. Based on original research conducted by Accenture and years of experience working with the most successful companies in the industry, healthcare experts Jeff Elton and Anne O’Riordan provide an informed, insightful view of the state of the industry, what's to come, and new emerging business models for life sciences companies play a different role from the past in to driving superior outcomes for patients and playing a bigger role in creating greater value for healthcare overall. Their book explains how critical global healthcare trends are challenging legacy strategies and business models, and examines why historical leaders in the industy must evolve, to stay relevant and compete with new entrants. Healthcare Disrupted captures this pivotal point in time to give executives and senior managers across pharmaceutical, biopharmaceutical, medical device, medical diagnostics, digital technology, and health services companies an opportunity to step back and consider the changing landscape. This book gives companies options for how to adapt and stay relevant and outlines four new business models that can drive sustainable growth and performance. It demonstrates how real-world data (from Electronic Medical Records, health wearables, Internet of Things, digital media, social media, and other sources) is combining with scalable technologies and advanced analytics to fundamentally change how and where healthcare is delivered, bridging to the health of populations, and broadening the resposibility for both. It reveals how this shift in healthcare delivery will significantly improve patient outcomes and the value health systems realize.
Convergence of the life sciences with fields including physical, chemical, mathematical, computational, engineering, and social sciences is a key strategy to tackle complex challenges and achieve new and innovative solutions. However, institutions face a lack of guidance on how to establish effective programs, what challenges they are likely to encounter, and what strategies other organizations have used to address the issues that arise. This advice is needed to harness the excitement generated by the concept of convergence and channel it into the policies, structures, and networks that will enable it to realize its goals. Convergence investigates examples of organizations that have established mechanisms to support convergent research. This report discusses details of current programs, how organizations have chosen to measure success, and what has worked and not worked in varied settings. The report summarizes the lessons learned and provides organizations with strategies to tackle practical needs and implementation challenges in areas such as infrastructure, student education and training, faculty advancement, and inter-institutional partnerships.
Digital Health--the convergence of the digital and genomic revolutions with health, healthcare, living, and society--is rapidly creating a new era of human progress. Building upon the work of famed futurist Alvin Toffler--author of The Third Wave--Paul Sonnier enumerates the key drivers of this new era, aka The Fourth Wave. The Fourth Wave: Digital Health provides readers from all backgrounds--consumers, business, media, marketing, sales, healthcare, pharma, sports, fitness, nutrition, research, science, policy, regulation, and non-governmental organizations--with an understanding of the megatrends taking place, the challenges, opportunities, timeline, and key actionable insights required to be a part this new era being created by digital health. Paul Sonnier is an author, contributing editor, speaker, technologist, and social entrepreneur who has spent nearly a decade educating global stakeholders on digital health. He is the founder of the Digital Health group on LinkedIn and the first to include genomics within the definition of 'digital health', a term he has successfully promulgated around the globe. Paul speaks regularly at conferences and corporate events, and publishes a newsletter. Learn more at FourthWaveBook.com and StoryofDigitalHealth.com
The tech sectors are the least understood portion of the healthcare system, but the ones that supply most of the innovation in healthcare services and generate most revenue. Fully updated for this third edition, The Business of Healthcare Innovation is a wide-ranging analysis of business models and trends in the tech sectors of the healthcare industry. It provides a thorough overview of and introduction to the innovative sectors that fuel improvements in healthcare: pharmaceuticals, biotechnology, life science startups, medical devices and information technology. For each sector, the book examines the trends in scientific innovation, the science behind that innovation, the business and revenue models pursued to commercialize that innovation, the regulatory constraints within which each sector must operate and the growing issues posed by activist payers and consumers. From a combination of academic and industry perspectives, the authors show why healthcare sectors are such an important source of growth in any nation's economy.