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2005 Roundtable Discussions
A favorite feature of the Conference, Breakfast Roundtable Discussions hit on popular topics and lead to lively interactions yielding valuable perspectives. Grab a chair at the table with the topic you want, selecting from these 18 intriguing and timely subjects:
Healthcare Services
Communications
Bio/Pharma
Healthcare IT Partnering & Investing
Healthcare Services
1. The Swiss Healthcare System – Can This Be a Model for the US?
William Altman, MBA '84, is former President and CEO of Kardia Therapeutics, a stem cell therapy company, and co-founder of FemPartners, the leading private women's healthcare services company which operates in Texas and three surrounding states.
Healthcare costs continue to increase, with no end in sight. Consumer-driven health plans are promising, but have a long way to go before they have a major impact. Is the Swiss system of providing healthcare, or key elements of it, a potential solution for the U.S.? This roundtable will briefly review the Swiss system of compulsory individual health insurance, and then discuss whether some of the key elements of the Swiss system might be useful in the U.S. to address continuing problems of cost, quality, and access. Participants will be encouraged to contrast other consumer-driven proposals to the Swiss system.
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2. Consumer Driven Healthcare and Other Ideas for Impacting the Medical Cost Trend
Sonny Bloom, MBA ’75, is Vice President of Concentra Preferred Systems, which serves as an intermediary between payors and providers. Fortune 1000 companies have seen employee healthcare insurance premiums soar by 10+% annually in recent years, and by 75+% over the past five years. Small and medium-sized companies will be hit the hardest. Experts predict that this trend will continue over the next few years. And, newer strategies like "consumer-driven" plans have yet to gain real traction among employees. What has been the experience at your company or healthcare facility, and what steps are you taking to combat rising costs? Alter plan designs? Limit employee choice? Provide financial incentives to employees? How have these actions impacted staff - positively or adversely? Do employees have the information and knowledge to make appropriate health service decisions?
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3. Pay for Performance: Good Idea…Overdue But Impractical?
Bob Harrington, MBA '72, is part of the Cambridge Management Group (CMG) in Cambridge, MA. CMG is a general management consulting firm serving hospitals and physicians around the country.
Paying physicians for performance may be an important lever for improving health care results and costs. It may instead be another ambitious (idealistic?) approach with important possibilities and little chance of substantial, sustainable improvements. We will consider a synopsis of a program being launched by a major payor organization and the initial reactions and results. Given your experience and/or the case study, who are the intended beneficiaries and how should the programs be structured? If PFP is to succeed, how should the programs deal with the pharmaceutical companies and the local hospitals? What is the larger socio-political context in which PFP plays a part, i.e., is there a way to "make sense" of the current healthcare "system" or is PFP part of progression to a profoundly different way to finance and organize healthcare?
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4. Evidenced Based Medicine: Can It Be Successfully Implemented in View of Current Incentives and Practice Structures?
Brian L. Grant, MD OPM 26, is President and Medical Director of Medical Consultants Network, a firm providing medical judgment services.
Most efforts to contain and reduce healthcare costs have focused upon negotiated fees, physician networks, pharmacy benefit management, and other discounting methods. These efforts fail to address the massive costs associated with excessive and unnecessary care when such care has no, little, or negative impact. These traditional cost containment methods also ignore whether care is based upon best known practices and evidence-based-medicine (EBM). This roundtable will describe the emerging popularity of EBM in healthcare, try to define what it is and is not, and discuss reactions by the medical and patient communities to it. The challenges faced in the current incentive and payment system toward implementation and enforcement of EBM will be discussed. Attendees will be encouraged and invited to discuss and present ideas and business models that might flow from a successful implementation of EBM, as well as the barriers that they see to such opportunities.
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Communications
5. Communicating With the Online Consumer: Clinical Trial Recruitment and Behavioral Marketing in Healthcare
Denise Silber, MBA ‘79, is President of Basil Strategies, eHealth consulting company that assists the pharma and healthcare industries in integrating new tools and services from the Basil Strategies partner network of companies.
HBS faculty have been at the forefront of consumer-centric healthcare. But how far have we gotten in the race to involve healthcare consumers in key actions, such as accelerating clinical trial recruitment or increasing awareness and understanding of disease conditions and their treatment programs? This roundtable will discuss strategies for accelerating clinical trial recruitment through online marketing and using online tools to drive desired behavioral changes, enabling a patient to manage her disease as a partner with her healthcare professional.
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6. Developing New Products for Healthcare - Do you hear multiple voices? Who really is the customer?
John Lamb, MBA '80, is Director, PRTM, a management consulting firm developing operational strategies which drive innovation and transformation of strategic capabilities to deliver on the strategies.
Christina Hepner Brodie leads PRTM's Innovation and Requirements Practice, and is an expert in collecting and using the Voice of the Customer to understand market dynamics and customer requirements.
As technology advances faster than healthcare's ability to respond, and we work to integrate healthcare's, fragments, how can we synthesize all customer "voices" to define requirements? Patients, guardians, doctors, nurses, provider institutions, payers, all play a part. The possibilities are endless and the risks are huge. How do we form a value proposition for our customers, and turn it into a winning product? This roundtable, shaped for leaders in Med Tech, Pharma and IT, will focus on defining our customers, and capturing and balancing their challenges.
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7. Mining for Bio-Gold in the Field of Academic Research Commercialization
Alfred Martin, MD, MBA '88, is a VentureLab Fellow with the Advanced Technology Development Center at Georgia Tech and the Georgia Research Alliance, where he helps commercialize bio-related university research from Georgia's top universities.
Jean Moses, MBA '76, CFA, Director, Corporate Development for Partners HealthCare System, founded and manages a venture investment program supporting technology transfer for the system and at private companies that have a connection with the Partners community.
Academic research commercialization is exploding with opportunity. States and public institutions view technology transfer as a source of economic development and jobs creation. Private institutions look to licensing and the creation of start-ups to diversify revenue streams while improving quality of life. Much research is in medical technology, pharmaceuticals, and biotechnology and licensing by entrepreneurs and startups poses issues to both sides - company and academic center. This roundtable will discuss opportunities and challenges for companies and entrepreneurs in university research commercialization and models for university-industry interaction. •back to top
8. Building Virtual Pharmaceutical Companies - the Concept and a Recent
Case History Stuart Collinson, PhD, MBA '89, is a partner at Forward Ventures and a Director of Vertex Pharmaceuticals and several private companies. He was also Chairman and CEO of Aurora Biosciences. Small biotech companies cannot hope to have access across the board to the R&D resources enjoyed by large pharmaceutical companies. However, by structuring new companies in a way that allows investment to get to the areas that really matter (for example, clinical development rather than real estate leases) it is possible to give young companies the resources they need to be successful. The discussion will consider the concept of a "virtual" biotech company and present a case history of a recently formed company that is about to begin phase IIb trials. •back to top
9. Stem-Cell Research Update – the Science, Politics, Funding and Potential
Ken Irvine, HBS '66, works on Wall Street and is on the development committee of the Alpha-1 Foundation which advocates for and funds stem research as a potential cure for Alpha-1, a genetic lung and liver disease.
Dr. Ken Chien of Mass General, who is on the Faculty Executive Committee of the Harvard Stem Cell Institute and the discoverer of rare stem cells in the hearts of newborns, will co-host.
This roundtable will focus on the potential of regenerative medicine and the opportunities for VCs and biotechs. Beginning with a presentation on the progress of the Harvard Stem Cell Institute (which recently celebrated its first anniversary) and the current state of the science. We will provide an overview of government funding: NIH budget, implementation of state programs - California ($300 million per year for 10 years), Connecticut ($10 million per year for 10 years). We will offer background on the nonprofit sector (JDRF) and industry (Geron). •back to top
10. Emerging Indian Pharma: Risk or Opportunity for the Global Pharmaceutical Industry Amit Patel, MBA'03, is Sr. Director of Corporate Development & Strategic Planning at Dr. Reddy's Laboratories, an India-based, mid-sized pharma with $500M revenue and 6000+ employees (NYSE:RDY).
Tobby Simon, OPM 36, is CEO of Synergia Consultants Pvt. Ltd., an international pharmaceutical company based in Bangalore, India.
India is emerging as a force in the global pharmaceutical industry. Indian pharmas account for one in every four generic drug ANDA filings globally. The cost of building a new FDA-approved manufacturing facility in India and an India-based laboratory scientist are one-fifth of the US costs. Due to India's large population of treatment-naïve patients, the cost per patient enrolled in a clinical trial is one-tenth the cost in the US. In early 2005, India agreed to comply with the WTO's agreement on Trade-Related Aspects of Intellectual Property Rights, honoring international patents issued after 1995. This roundtable will discuss the dynamics of the Indian pharma market, competitive threats posed to other companies, and cross-border partnering opportunities. •back to top
11. Global Pharmaceuticals Market – Prospects for 2006
Murray Aitken, MBA '87, is Senior Vice President, Corporate Strategy at IMS Health, the world's leading provider of information solutions to the pharmaceutical and healthcare industries. The global pharmaceutical market exceeds $550 billion and is integral to the cost-effective delivery of healthcare around the world. This roundtable will focus on the dynamics affecting this market and the prospects for 2006, discussing the impact of the Medicare Modernization Act on the US market; cost-containment initiatives across Europe and Japan; the evolution of the China market; and the impact of innovative medicines reaching the
market. The implications of the market dynamics for global pharmaceutical companies will also be discussed. •back to top
12. The Sharpest Tools in the Shed: Cutting Edge Technologies that will Change Drug Discovery and Diagnostics Forever David Green, MBA '91, is Co-Founder and President of Harvard Bioscience, a $100m publicly traded company making scientific instruments for all major pharma, biotechs and universities for accelerating drug discovery. New instrumentation technologies drove major drug discovery and diagnostic breakthroughs. Automated DNA sequencers enable the sequencing of the human genome and DNA based diagnostics such as the BRCA1 test for hereditary breast and ovarian cancer. Robotics enabled high-throughput screening in pharma and automated diagnostics in the clinic. And yet drug discovery productivity at major pharma has plummeted and biotech's have not filled the gap. New technologies automate tests on protein biomarkers rather than DNA, human tissue rather than cultured cell-lines, organs, and even organisms such as the Zebrafish. Mr. Green will review the breakthroughs that will reverse the decline in drug discovery productivity and revolutionize diagnostics. •back to top
13. Specialty Pharmaceuticals: The Future of the Pharmaceutical Industry?
Jeremy Goldberg, MBA '88, is Managing Director of Corporate Development, Endo Pharmaceuticals, previously venture capital founder and investor at ProQuest Investments.
David Steinberg, MBA '89, is Managing Director and Senior Research Analyst, Deutschebank. A leading analyst in specialty pharmaceuticals, he has been following emerging pharmaceutical companies since early 1990s.
Matt McPherron, MBA '93, is a Partner, Brookside Capital, a hedge fund within $20+ Billion Bain Capital, a leading hedge fund investor in life sciences and pharmaceuticals.
Whether you are an investor, an analyst, a biotechnology or pharmaceutical executive, a payor or provider, you need to understand why Specialty Pharmaceuticals is the fastest growing and most dynamic sector of the pharmaceutical industry today. This panel of corporate, research analyst and investor experts will address a) Why specialty pharmaceuticals is distinct from biotechnology and pharmaceuticals, b) What are the emerging business models in Specialty Pharma, and c) Examples of successes and failures within Specialty Pharmaceuticals.
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Healthcare IT
14. The Role of IT in Enabling Innovation in the Life Sciences
Brock Reeve, MBA '88, is COO of Life Science Insights. A subsidiary of IDC, Life Science Insights focuses on the role of IT in life sciences, working with technology vendors and the biopharma industry.
Everyone is painfully aware of the productivity and cost pressures that biopharma companies currently face. So far, investments in information technology have not had the results in new product discovery, lowering costs, accelerating development times or other key metrics, that the industry hoped for. This roundtable will discuss key areas where IT can add value across the pharmaceutical value chain, what's different now, and what to expect.
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15. Innovations in eHealth and Disease Management Mark Francis, MPP, OPM34, President of Rosetta Stone Partners/Youthful Aging, LLC., a research and strategy consulting firm, specializing in the implications and opportunities in the convergence of the IT, healthcare, and aging revolutions. Many models of healthcare delivery using IT have been proposed, yet many fail. The constraints are the structuring of healthcare financing and reimbursement, the disruption of the physician-patient relationship, and the hesitancy to invest in another IT solution. A consortium of leading health IT vendors and healthcare providers have formed the ACCENT Coalition. ACCENT is a demonstration program funded through the Center of Medicare and Medicaid Services, with a new method of healthcare delivery and financing to those individuals with chronic health conditions, bringing disease management in-house to the primary care physician. Come learn more about this innovative program and the implications for the future of chronic care delivery. •back to top Partnering & Investing
16. Alternative Investing and Pharma Deal Structures: Convergence in the Capital Markets
Valerie Brown, MBA '94, is a Director in the Corporate Development group of Bristol-Myers Squibb Company where she identifies, evaluates and negotiates acquisitions, divestitures, joint ventures and direct equity
investments.
Hedge funds and private equity firms are both interested in the potentially lucrative arena of healthcare and life sciences. Given the time horizon, capital requirements, regulatory barriers and unique risks associated with investing in the biopharma industry, what are the implications of this trend for small biotech, specialty pharma companies and big pharma? Do these sources of capital substitute for, or complement traditional biotech investors (i.e. venture capital)? Will small and mid-size pharmaceutical companies and biotech firms rely less heavily on partnering with Big Pharma as a result of these new capital flows? •back to top
17. Practical Strategies for Successful Partnering in the Life Sciences
Joseph Baron, MBA '99, is senior principal with Puretech Ventures, an investor in and advisor to cutting edge international life science companies. The firm was formed around a network of high net worth, former life science executives.
Aggressive corporate partnering should be an essential component of any early stage company's growth strategy. Successful partnerships can validate a company's technology, provide significant non-dilutive cash, provide access to valuable market expertise, and can lead to an exit. Many companies fail to achieve successful partnership. Ensuring mutually-beneficial partnership requires a significant investment of management, planning and excellent execution. Companies must invest to build communication channels and relationships. This roundtable will focus on the steps for early-stage companies to be successful throughout the stages of life science partnering. •back to top
18. Starting and Funding Biotechnology Firms Today – Problems and Resolutions
Kate Torchilin, PhD, MBA '03, is Senior Manager of Life Sciences Mass Spectrometry at Thermo Electron Corporation, running a new business focused on mass spectrometry applications in clinical diagnostic labs.
Steven Wardell, MBA '00, is a Principal at Apeiron Partners, a Boston-based boutique life science investment bank and venture capital fund.
Biotech entrepreneurs and Venture Capitalists are facing a crisis. These two hosts will discuss the issues from both the Entrepreneur's and VC's perspective. The Entrepreneur: How do you bridge the gap from a solid body of scientific work and a business plan to funding for your early stage idea? What are the alternative, and traditional, sources of funding that may be available? The Venture Capitalist: The problems today include low barriers to entry, overfunding by LPs, and deteriorating investment characteristics. How will players adjust to this environment and what future events will turn these dynamics around?
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©2005 Harvard Business School Health Industry Alumni Association.
All rights reserved.
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