The Business of Healthcare Innovation

Book Description

Robert Lawton Burns focuses on the key role of the 'producers' as the main source of innovation in this wide-ranging analysis of business trends in the manufacturing branch of the health care industry. Written by industry academics and executives, the book provides a detailed overview of the pharmaceutical, biotechnology, genomics/proteomics, medical device and information technology sectors. Most importantly, it describes the growing convergence between these sectors and the need for executives in one sector to increasingly draw upon trends in the others.

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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.

Customer Reviews:

Worth reading for anyone working in the industry.......2006-11-22

The book provides a comprehensive look at the economics and rationale of product development, pricing and marketing in the healthcare market. Anyone who thinks that we (collectively) are being gouged by the medical device or pharmaceutical industry should take a look at the signficant costs incurred and capital risked by companies trying to innovate in that market.

While the approach taken in the book is largely academic, the information provided is easily understood by a general audience.

An Overdue Analysis of a Critically Important Subject.......2006-03-10

For all U.S. taxpayers and those who employ them, healthcare is one of the most important industries and yet, for most of taxpayers, it is probably the least understood. According to Burns, almost all attention has previously been focused on those who pay for and on who provide healthcare services. He explains that, in this book, he and other contributors focus their attention on the producers of healthcare products.

This book was primarily written for two different audiences: students and their teachers in graduate programs of health administration, and practitioners in each of several sectors (pharmaceutical, biotechnology, genomics and proteomics, medical device, and information technology) "not so much to educate them about their own sphere of activity, but rather to educate them about the other sectors that are increasingly interdependent with their own." The five industry sectors "are responsible for supplying a majority of the innovative products utilized by physicians and hospitals and which are increasingly demanded by consumers." As is later explained, "This supply and demand logic has exerted both positive and negative effects."

Of special interest to me is what Burns and other contributors have to say about innovative thinking and why it is not only important but indeed essential to the healthcare industry. (Much of the innovation is achieved in the information technology sector which Jeff F. Goldsmith examines in depth in Chapter 7.) Because the aforementioned five sectors are all for profit, Burns and associates examine the business models and corporate strategies of firms in those sectors. "As a result, the book may be more at home in health administration programs located in business schools [e.g. Wharton at which Burns is the James Joo-Jin Kim Professor, and Professor of Health Care Systems], but it may still be useful for programs in schools of public health and public administration." Given the rapidly increasing costs of healthcare, and especially given the fact that there is not as net a national public health program, my own opinion is that all public officials should read this book. I also highly recommend this book to all organizations which currently do business -- or are planning to business with -- producers of healthcare products.

Make no mistake about it: This is not an "easy read" but I hasten to add, that it rewards generously those who read it with appropriate care. Although healthcare students and their teachers comprise one of its primary audiences, this not so much a textbook as it is a rigorous analysis of urgent issues and significant crises which should also be of interest to senior-level executives of organizations which assume the substantial costs of coverage for those involved, for example, and to those in the news media who have -- until now -- devoted little (if any) attention to producers of healthcare products, other than to draw attention to their quarterly and annual financial data.

For me, the most interesting and most valuable material is provided with the last chapter, "Healthcare innovation across sectors: convergences and divergences," which Burns co-authored with Stephen M. Sammut. Obviously, it is highly advisable to read the seven chapters which precede it to derive full benefit from it. Burns and Sammut summarize the technological developments across all of the five segments (i.e. pharmaceutical, biotechnology, genomics and proteomics, medical device, and information technology) and suggest what can be learned about the business of innovation in healthcare. They carefully examine "various changes in market structure of each sector, the major business models used in each sector, the key success factors and distinctive capabilities of firms in each sector, the convergence between and among sectors, the formulation of value-adding alliances, and the managerial skills needed to sustain innovation and change in each sector."

Obviously, this is not a book for everyone but, now that I have read and then re-read it, I think The Business of Healthcare Innovation will be of substantial value to far more people than I originally assumed.

Bravo!

Must-read analysis of healthcare industry.......2006-02-21

The Business of Healthcare Innovation, a new book edited by Wharton Health Care Management Professor Lawton R. Burns, is a must-read analysis of key commercial issues in the four major business sectors developing innovative healthcare products - pharmaceuticals, biotechnology, medical devices, and information technology. Thoughtful executives will be grateful for the book's solid research foundation and unwavering focus on practical business strategy issues.

Each sector receives a chapter-length analysis that includes market structure, key players, product development, commercialization, alliances, business strategy, and growth prospects. The contributors, who represent both Wharton faculty and industry executives, have done an excellent job of explaining the dynamics behind each sector. The chapter notes also provide an invaluable guide for further research.

Executives on the commercial side of the pharmaceutical industry should be sure to read the chapter on mergers and acquisitions (M&A), which reviews all known empirical research on the surprisingly limited benefits reaped from M&As. More practically, the chapter describes the most important managerial processes needed to extract synergies from M&As, with particular emphasis on the critical role played by the broader healthcare value chain.

The final chapter intriguingly suggests that the frontier of innovation lay in the convergence of these four sectors, such as new drug-device therapies or greater use of imaging in surgical treatment. This technological convergence will undoubtedly require new hybrid value chains, suggesting many exciting opportunities for the executives and companies responsible for moving drugs to market. Executives could profitably use this chapter as the basis for a rich strategic planning discussion.

The Business of Healthcare Innovation - Highly Recommended.......2005-09-18

The market dynamics, business models, and corporate strategies of pharma, biotech, genomics, medical device development, and health care information technology are converging. And you better get ready.

Written by business gurus at the Wharton School and health industry executives, The Business of Healthcare Innovation provides an invaluable analysis of key business trends in the manufacturing side of health care. Editor Lawton R. Burns, Ph.D. and contributors focus on the producer side of health care and demonstrate how manufacturers serve as the principal drivers of health care innovation.

Specifically, The Business of Healthcare Innovation:

1. Provides an insightful, detailed overview of the most influential players - namely, the pharmaceutical, biotechnology, genomics/proteomics, medical device, and information technology sectors.

2. Describes and assesses the market structures, business models, and corporate strategies of each of these six sectors.

3. Shows how the six sectors are converging, drawing increasingly on the trends, tools, and solutions of each other.

A compelling, business-savvy look at the manufacturing side of health care, The Business of Healthcare Innovation is highly recommended for executives, policy makers, investors, and consultants to business and government decision makers.

Quantum Leadership: A Resource for Healthcare Innovation, Second Edition

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Quantum Leadership: A Resource for Healthcare Innovation, Second Edition
Tim Porter-O'Grady , and Kathy Malloch
Manufacturer: Jones & Bartlett Publishers
ProductGroup: Book
Binding: Hardcover

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The Quantum Leader: Applications for the New World of Work
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Management And Leadership For Nurse Administrators
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ASIN: 0763744603

Book Description

This text provides leaders in the health care industry with the skills they need to ensure that their organizations are guided accurately and effectively through periods of transformation. It offers strategies for handling challenges that arise in health care organizations that better assist leaders in creating a healing environment for both the provides and consumers of health care.

This Second Edition presents a new model for leadership using latest understanding on Quantum Mechanics applied to human dynamic behavior and the real issues that leaders confront in their roles and relationships. This book focuses on the person and how that person can be developed to become an outstanding leader.

The Lean Design Solution
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Recommended Lean Product Development Book

Lean Design Solution Delivers What it Promises

A Comprehensive Guidebook in Implementing Lean Principles

A Solution That Works

Very instructional

The Lean Design Solution
Bart Huthwaite Sr.
Manufacturer: Institute for Lean Design
ProductGroup: Book
Binding: Hardcover

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Product Development for the Lean Enterprise: Why Toyota's System Is Four Times More Productive and How You Can Implement It

Design for Manufacturability & Concurrent Engineering; How to Design for Low Cost, Design in High Quality, Design for Lean Manufacture, and Design Quickly for Fast Production

The Lean Design Guidebook: Everything Your Product Development Team Needs to Slash Manufacturing Cost (The Lean Guidebook Series)

The Toyota Product Development System: Integrating People, Process And Technology

The Lean Product Development Guidebook: Everything Your Design Team Needs to Improve Efficiency and Slash Time to Market

ASIN: 0971221022
Release Date: 2004-11-20

Book Description

Leaders are now recognizing that product design is the primary driver of success. They are making it their primary target in their quest for delivering customers more value at less cost. Now Bart Huthwaite, founder of the Institute for Lean Design and recognized as America's Lean Design Coach, show you how, step-by-step, to create lean products and services right from the start. He reveals success secrets and a road map for integrating lean design with six sigma design for powerful results.

Customer Reviews:

Recommended Lean Product Development Book .......2006-08-04

There aren't many books to help engineers apply lean in their product development efforts. There is no question Huthwaite's principles are right on, but then they aren't a pure lean Toyota play. I only wish his book was structured and edited to take some of the redundancy and folksiness out. Stating his principles with more brevity and clarity would shorten the book and make it a more powerful read--making it easier for an engineering group to pick up and apply. To Huthwaite's credit, there are principles here, that you won't find in any other lean Product Development(PD) book--he draws from his 22+ years of knowledge and client experience. That has value. Other great PD books includes Morgan & Liker's The Toyota Product Development System, Reinertsen's The Development Factory and Poppendieck's Lean Software Development.

Lean Design Solution Delivers What it Promises.......2005-03-21

The "Lean Design Solution" is an easy to read book which guides you through the world of lean design. The text is richly layered with practical examples and real life situations. The author goes to great lengths to engage the reader and keep the subject matter interesting. This book is a must have resource for people working in design or manufacturing.

A Comprehensive Guidebook in Implementing Lean Principles.......2005-03-20

"The Lean Design Solution" provides an extremely effective methodolgy in applying Lean Principles to product design and development. The book provides a holistic approach involving an integration of all stakeholders in the implementing the design process. This "Lean Design Solution" methodology of imbedding customer needs up front in the process has developed a very successful track record of delivering maximum effectiveness in design, as well as process and systems development. A significant hallmark of the book, is that the methodology and accompanying tools can be overlaid or incorporated throughout the enterprise's current Lean system to fully optimize and bring innovative, high quality products to market rapidly. The process is very effective as captured in the "Lean Design Solution" for all maturity levels of organization's Lean processes. The practical approach provided with the Lean Design Solution makes it a great read for all Lean practitioners as well as those who are in change agents in implementing Lean.

A Solution That Works.......2005-03-19

Lean Design Solution is in itself a masterpiece in simplicity. You are walked through the basics of great innovative design in a step-by-step process. In over 25 years in the aviation industry I have never seen a book that does this so well.

You wont find any "fuzzy" abstractions in the book. The author provides an easy-to-understand, common sense techniques and, most importantly, useful tools that a project team can implement immediately.

Mr. Huthwaite's vast experience as a coach of design teams clearly comes through. This book is "hands-on" in every sense fo the words.

I beleive this is a must read for project leaders and team members alike.

Very instructional.......2005-03-19

The Lean Design Solution not only gives great insight into the the theory of lean design, but also gives direct and simple instruction on the "how to" practice lean design. The solutions and tools mentioned in the book combine well with existing lean design and lean manufacturing strategies. I found that the book was very easy to read and contained a lot of real life examples.

Business Wire : Siemens Health IT Innovations Drive Workflow-Enabled Transformation in Healthcare.

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Business Wire : Siemens Health IT Innovations Drive Workflow-Enabled Transformation in Healthcare.

Manufacturer: Business Wire
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Binding: Digital

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Book Description

Word count: 906.

A case study in IT innovation in a small, rural community hospital.(information technology): An article from: Research in Healthcare Financial Management

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A case study in IT innovation in a small, rural community hospital.(information technology): An article from: Research in Healthcare Financial Management
Sheila K. McGinnis , Lela Pumphrey , Ken Trimmer , and Carla Wiggins
Manufacturer: Thomson Gale
ProductGroup: Book
Binding: Digital

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Book Description

This digital document is an article from Research in Healthcare Financial Management, published by Thomson Gale on January 1, 2004. The length of the article is 5143 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

Citation Details
Title: A case study in IT innovation in a small, rural community hospital.(information technology)
Author: Sheila K. McGinnis
Publication: Research in Healthcare Financial Management (Magazine/Journal)
Date: January 1, 2004
Publisher: Thomson Gale
Volume: 9 Issue: 1 Page: 9(11)

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Cigna, IBM tech tool targets health care fraud. (CIGNA Healthcare Group Inc., Fraud and Abuse Management System): An article from: National Underwriter Property & Casualty-Risk & Benefits Management

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Cigna, IBM tech tool targets health care fraud. (CIGNA Healthcare Group Inc., Fraud and Abuse Management System): An article from: National Underwriter Property & Casualty-Risk & Benefits Management

Manufacturer: The National Underwriter Company
ProductGroup: Book
Binding: Digital

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Book Description

This digital document is an article from National Underwriter Property & Casualty-Risk & Benefits Management, published by The National Underwriter Company on October 3, 1994. The length of the article is 473 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

From the supplier: CIGNA Corp. CIGNA Healthcare Group Inc and IBM has developed a Fraud and Abuse Management System, based on artificial intelligence and fuzzy logic analysis to detect fraudulent healthcare claims. The system measures variations among practitioners for several behaviors, such as billing charges, laboratory tests, and frequency of office visits. Widely variant behaviors are flagged by the computer. Each healthcare provider receives various rankings and those with widely variant practices are investigated further.

Citation Details
Title: Cigna, IBM tech tool targets health care fraud. (CIGNA Healthcare Group Inc., Fraud and Abuse Management System)
Publication: National Underwriter Property & Casualty-Risk & Benefits Management (Magazine/Journal)
Date: October 3, 1994
Publisher: The National Underwriter Company
Issue: n40 Page: p5(1)

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Count Dracula might want to take note of new facility: United Blood Services moves into new donor-friendly home.(healthcare Mississippi) : An article from: Mississippi Business Journal

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Count Dracula might want to take note of new facility: United Blood Services moves into new donor-friendly home.(healthcare Mississippi) : An article from: Mississippi Business Journal
Lynne Jeter
Manufacturer: Venture Publications
ProductGroup: Book
Binding: Digital

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This digital document is an article from Mississippi Business Journal, published by Venture Publications on November 8, 2004. The length of the article is 720 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

Citation Details
Title: Count Dracula might want to take note of new facility: United Blood Services moves into new donor-friendly home.(healthcare Mississippi)
Author: Lynne Jeter
Publication: Mississippi Business Journal (Magazine/Journal)
Date: November 8, 2004
Publisher: Venture Publications
Volume: 26 Issue: 45 Page: B3(1)

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Growth in health care risks spurs need for capital markets.(Thomas V. Ealy of Near North National Group): An article from: National Underwriter Property & Casualty-Risk & Benefits Management

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Growth in health care risks spurs need for capital markets.(Thomas V. Ealy of Near North National Group): An article from: National Underwriter Property & Casualty-Risk & Benefits Management
David M. Katz
Manufacturer: The National Underwriter Company
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Binding: Digital

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This digital document is an article from National Underwriter Property & Casualty-Risk & Benefits Management, published by The National Underwriter Company on October 7, 1996. The length of the article is 534 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

From the supplier: Thomas Ealy of Near North National Group pointed out that large health care corporations created by recent mergers incur a new level of liabilities which could call for funding by capital markets. The growth of managed care programs also creates more risks for health care insurers. Corporations which own managed care providers should be aware that class action lawsuits could result if care is denied on the basis of cost. Capital markets could be used to fund such health care risks as they are used for business risks.

Citation Details
Title: Growth in health care risks spurs need for capital markets.(Thomas V. Ealy of Near North National Group)
Author: David M. Katz
Publication: National Underwriter Property & Casualty-Risk & Benefits Management (Magazine/Journal)
Date: October 7, 1996
Publisher: The National Underwriter Company
Issue: n41 Page: p2(2)

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Healthcare cost cutter: new laser gallbladder surgery slices recovery time increasing business productivity.: An article from: Arkansas Business

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Healthcare cost cutter: new laser gallbladder surgery slices recovery time increasing business productivity.: An article from: Arkansas Business
Jan Meins
Manufacturer: Journal Publishing, Inc.
ProductGroup: Book
Binding: Digital

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Book Description

This digital document is an article from Arkansas Business, published by Journal Publishing, Inc. on July 2, 1990. The length of the article is 1260 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

Citation Details
Title: Healthcare cost cutter: new laser gallbladder surgery slices recovery time increasing business productivity.
Author: Jan Meins
Publication: Arkansas Business (Magazine/Journal)
Date: July 2, 1990
Publisher: Journal Publishing, Inc.
Volume: v7 Issue: n14 Page: p37(2)

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Hospital RMs turn to channeling. (risk managers) (Healthcare Risk Management Review): An article from: National Underwriter Property & Casualty-Risk & Benefits Management

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Hospital RMs turn to channeling. (risk managers) (Healthcare Risk Management Review): An article from: National Underwriter Property & Casualty-Risk & Benefits Management
Corbette S. Doyle
Manufacturer: The National Underwriter Company
ProductGroup: Book
Binding: Digital

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This digital document is an article from National Underwriter Property & Casualty-Risk & Benefits Management, published by The National Underwriter Company on November 9, 1992. The length of the article is 2274 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

From the supplier: Risk managers (RMs) at many health facilities provide professional insurance coverage to doctors who are not on staff, because the RMs believe such relationships will increase admissions. These channeling programs can boost the number of patients treated at a given hospital, but a key risk to consider is whether the increased revenue generated by channeling outweighs the increased insurance costs. Another factor that must be considered is the potential for fraud and abuse. Hospitals should get legal advice before adopting a channeling program.

Citation Details
Title: Hospital RMs turn to channeling. (risk managers) (Healthcare Risk Management Review)
Author: Corbette S. Doyle
Publication: National Underwriter Property & Casualty-Risk & Benefits Management (Magazine/Journal)
Date: November 9, 1992
Publisher: The National Underwriter Company
Issue: n45 Page: p13(5)

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