ehealthecon.hsinetwork.comThe Healthcare Marketplace - MILI6990 - U. of Minnesota

Parente, S.T. Stephen Parente 10 1766 2005-07-08T12:11:00Z 2015-01-21T16:46:00Z 2015-02-15T22:40:00Z 7 2687 15322 University of Minnesota 127 35 17974 15.00 Print 60 Clean Clean false false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 MILI6990/5990 The Healthcare Marketplace Carlson School of Management Medical Industry Leadership Institute University of Minnesota, Twin Cities Spring 2015, 2 Credits Lecture: M 5:45 – 9:05 Location: Carlson School, Hansen Hall 1-102 Professor: Stephen T. Parente, Ph.D. Catalog Description : The healthcare market place constitutes nearly three trillion dollars in the United States and several trillion spent throughout the world. With growing demand for medical technology and the aging of the population, the scale and complexity of the health care supply chain is expected to dramatically increase over the next two decades. The healthcare sector is comprised of several markets for goods and services, including physician services, hospital services, insurance, pharmaceuticals and medical devices, and information technology. This course aims to provide a survey of the health sector to understand the scale, market opportunities, as well as barriers to this expanding and global industry. Course Objectives: ► To identify the key actors in the healthcare sector and their market roles. ► To understand how the interactions of the actors influence particular markets. ► To understand the market opportunities offered by different sectors of the health economy. ► To understand the interrelationships between the markets. Method of Evaluation : Midterm: 25% Market sizing memo: 20% Research paper: 45% Participation: 10% Exam : There is only one exam in this class – a midterm. The exam will be in-class, closed-book, and closed-note. The exam will test on a mix of definitions, short answer and essay questions. Market sizing memo : The memo will be a 2 page long executive summary (with additional figures as appropriate) to identify the size of a specific market in the medical industry where an entrepreneurial venture could prove successful. The memo should ideally address the following key questions: 1) What is the potential venture? 2) Who are the potential patients? 3) What sub-sectors of the industry would be engaged (e.g., physician, pharmaceutical manufacturers)? 4) What is the geographic scale of the venture (e.g., regional, national, global) 5) Are there partnering agents necessary for success? If so, who? 6) Is return on investment possible within five year (a typical venture capital window)? 7) What is the best case in five years? What is the worse? For each what would be the range of revenue (e.g., <$1M, $1-5M) Examples from previous classes · Market sizing memo #1 · Market sizing memo #2 · Market sizing memo #3 An example market sizing memo (single space with figure) is available here for fictitious stroke technology UMN_Clot . The memo addresses nearly all of the questions above. Your goal is to keep the analysis effective, clear and concise. All resources available to you are fair game. Use the MILI resources page from the MILI web site: http://www.medicalindustrymba.com for industry connections. The memo will be due on March 6, 2015 by 4pm. For those taking New Product Development course or the Ventures Enterprise, you can use this memo as a ‘dual-use’ exercise. E mail the market sizing memo to sparente@umn.edu by 4pm with MILI6990 in the comment line of your email. Market Research paper : You will be expected to complete a market research paper for this course. The intent of this requirement is to give you the opportunity to explore a specific health care market-oriented issue in which you are particularly interested. Deadlines: There will be two deadlines associated with the research paper. The first deadline occurs on 2/16/2015. On this day, you will need to turn in a one-page document that summarizes your proposed research paper topic of interest. It should include some background information as well as the specific question or issue that you would like to address. The second deadline is on 3/9/2015. On this day, you will need to turn in the final version of your paper, electronically by email to sparente@umn.edu by 4pm with MILI6990 in the comment line of your email. Examples · Market Research Paper #1 Market Research Paper #2 Market Research Paper #3 Resources: MILI Inventory of available Secondary Data Resources (student version) Note: MILI Affiliate Inventory – updated regularly - available after student completes MILI MBA specialization and leadership statement requirement. Course Secondary Data Resources ● Diagnosis (ICD9) Code Spreadsheet ● Procedure Code Spreadsheet Ehealthecon SQL Server link ( Userid : MILI6589, password: puppydog ) MILI Lab Server for ICD9 procedure and diagnosis market sizing Server Link Userid : mili6690, password: puppydog · Wald_rx database description · Use SQL language example using Wald_rx Topic : Use syllabus topics, the newspaper, your own experiences, or other secondary sources to help you identify your topic. A good place for ideas is the journal Health Affairs. The website is http://www.healthaffairs.org/ . Helpful library indexes include Medline, Pubmed , and Econlit . You can get to them by going to www.lib.umn.edu , and then click on Articles and Indexes. Note, the research paper should not be a position paper (e.g., pro vs. con). Rather, it should be objective and present all relevant arguments (e.g., economic, political, scientific) related to the chosen issue. I would also encourage you to consider a topic that may allow you to use scientific data to support your argument. This is completely optional, but may be of interest to those who have had some statistics or economics coursework. Logistics : The paper should be double-spaced, 12-point font, with one-inch margins. The length of the paper should be in the range of 7-8 pages of text. You may also use footnotes where necessary. To avoid plagiarism, please be sure to give credit when you use another person’s idea or theory, other information that is not common knowledge, or statistics. This includes both web-based and traditional sources. You should cite it in the text of the paper, as well as include a full citation on a reference page. Refer to the MLA Handbook for formatting. The instructor will enforce the policies issued by the University of Minnesota with respect to the Student Code of Conduct. Readings : Readings including book chapters, journal articles and company annual reports will be made available electronically. Course Content : The course will be divided up into seven units: 1. Historical Overview of the Healthcare Sector 2. Physician Services Market 3. Hospital Services Market 4. Insurance Market 5. Medical Devices and Pharmaceuticals Market 6. Healthcare Information Technology Market 7. International Healthcare Markets Instructor Contact Information: Stephen T. Parente, Ph.D., Professor Associate Dean, MBA Programs, Carlson School of Management Professor and Minnesota Insurance Industry Chair of Health Finance Department of Finance, Carlson School of Management Director, Medical Industry Leadership Institute CSOM 3-279 612-624-1391 – voice, 612-435-4925 – fax E-mail : sparente@umn.edu Office Hours: By appointment by e-mail on Mondays Course Web Site: http://ehealthecon.hsinetwork.com/mili6990_2015.html The HEALTHCARE MARKETPLACE Schedule Historical Overview of the Healthcare Sector January 26: Where does 3 Trillion go? Market and course overview ► Jonas & Kovner , Chapter 1 ► National Health Expenditure Projections 2012-2023, CMS, 2014 ► FTC Executive Summary, pp. 1-20. ► Starr, pp. 80-144 ► Ginsburg, P. “Don’t Break Out The Champagne: Continued Slowing Of Health Care Spending Growth Unlikely To Last.” Health Affairs 27, no. 1 (2008): 30–32. ► Pear, R. “After Slow Growth, Experts Say, Health Spending Is Expected to Climb.” New York Times, September 3, 2014 ► Parente, ST. “Health econom...