Roundtables
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Roundtables
Always a popular feature, Saturday Breakfast Roundtable Discussions get executives swapping valuable ideas and experiences on some of the most important issues facing the business of healthcare. Categories include Healthcare Services, Bio/Pharma, Healthcare IT, and Partnering and Investing. Choose early, because tables fill up fast. Grab your coffee and breakfast and pull up a chair for a lively session on a timely topic.
Roundtables includes:
New Business Opportunities Created by Customers Paying Out-of-Pocket for Medical Products
Kate Torchilin, PhD, MBA ’03, is Founder of Enspire-Medica LLC that focuses on medical consumer products and medical clothing. Prior to founding Enspire-Medica, Kate was Director of Global Clinical and Toxicology Markets at Thermo Fisher Scientific.
Consumer medical products manufacturers face extremely price-conscious environment and intense competition in fragmented markets. However, the baby boomers are beginning to spend as much time in the doctors’ offices as they are in any other activity, and as much time shopping for medical supplies—from blood glucose monitors to compression stockings—as they are buying new cell phones or designer clothes. Moreover, they pay out-of-pocket for many of these products. We will discuss how this might affect the overall value chain for the medical product industry, which products offer the best market opportunities, etc.
The Feeding Frenzy in Specialty Pharmaceuticals
Jeremy Goldberg, MBA '88, is former Managing Director, Corporate
Development at Endo Pharmaceuticals; David Steinberg, MBA '89, is Managing
Director and Senior Analyst at Deutsche Bank; and Will Muggia, MBA '92 is
CEO and Chief Investment Officer of Westfield Capital.
There has been an M&A transaction every nine business day in 2008
(examples: Teva's $7 billion+ acquisition of Barr Labs, Glaxo's $1.6
billion acquisition of Reliant), and unusual wealth created for many
founders -- seven billionaires thus far. We ask: who's next? And in light
of the recent financial crisis, what does the future hold for this dynamic
sector? Will generic drug substitution rates continue to rise? Will the
IPO window remain shut? We will discuss implications for operating
executives and investors, while offering some predictions for the future.
Predicting Healthcare Buying Behavior
Robert B. Harrington, MBA ’72, Cambridge Management Group, helps physicians engage each other to develop leadership, shared accountability and methods for sustainable success.
Understanding the subconscious feelings driving consumer and physician behavior is top line issue across healthcare. What are the emotions shaping non-adherence in drug therapy? What are cardiologists feeling when they select one stent over another? Insights gleaned from Project Implicit research, work of Professor Gerald Zaltman at HBS and experience with Emotion Mining offer a starting point for our discussion. What buying behavior do you need to understand? CMG focuses on professional and personal connections for effective physician-hospital collaboration, and adaptive managerial skills to change basis of competition in a complex, dynamic healthcare industry.
A New Business Model for Primary Care
Dave Terry, MBA ’98, President of Salvectus Healthcare, has spent his career working as an operator and consultant on the healthcare-provider side. His consulting firm works with health systems and private equity firms investing in healthcare services companies.
Primary care is in the early stage of a crisis—there is a growing supply/demand imbalance, providers are unhappy with workloads and pay rates, consumers suffer from poor service and limited access, and healthcare costs rise. As a result of these and other factors, primary care physicians are leaving private practice to work for hospitals, start concierge practices, or leave the industry all together. Dave Terry will lead a discussion of novel ideas, including a primary care business model designed to improve access, enhance service, manage chronic disease and better utilize physician resources.
E-Health Business Models That Win
Geoff Seyon, MBA ’05, COO of Medullan, applies technology-enabled disruptive business models to enhance the competitiveness of Medullan and its E-Health clients. Ahmed Albaiti, CEO of Medullan, is recognized as an E-Health thought leader.
One shining hope in this era of burgeoning healthcare costs and misaligned incentives is the emergence of new “E-Health” business models that extend healthcare services beyond the traditional care settings of today, and have the potential to fundamentally change the healthcare industry tomorrow. E-Health industry leaders who have been in the trenches with entrepreneurs, venture capitalists, clinicians and patients, will lead the discussion, examining different business models—successes, failures that and ones yet to be proven. We invite aspiring founders of E-Health businesses, investors and present industry leaders to join the debate.
The Role of Operating Partners in Healthcare Private Equity
Brian Miller, MBA ’02, Partner, Linden Capital Partners, has been involved in principal investing and investment banking since 1996. Kelly Victory MS, MD, FACEP, is President of Victory Health and Managing Partner, Health Services, Luxemburg Capital.
Increased competition within the private equity LBO and venture capital markets has brought the role of operations to the forefront. Investors are relying more now than ever on experienced industry executives—often formally partnering or hiring such Operating Partners or Executives in Residence to the investment fund, instead of the portfolio company. In some instances, the fund investors themselves were previously senior managers, rather than traditional financiers. This panel will explore the roles and relationships that industry executives have with private equity investors.
How the Current Financial Markets Crisis is Impacting Biotech Companies
Lee Steele, MBA ’73, is a Financial Leadership Partner and Co-Director of Tatum, LLC’s Northeast Life Sciences Practice. Jeff Templer, MBA ’74, is also a Financial Leadership Partner and a member of Tatum’s Life Sciences Practice. Both have extensive life sciences operating experience during periods of financial uncertainty.
Emerging life sciences companies are accustomed to operating in an environment of financial and regulatory uncertainty. The recent near-panic in world financial markets is a whole new paradigm affecting all constituencies. Public equities, debt markets, venture capitalists, regulators, development partners, grant/foundation sources, clinical trial institutions, healthcare providers, payors, and even valued employees are experiencing unprecedented anxieties that few biotech operating executives have seen in their lifetimes. The speed and severity of recent developments is breathtaking, making hesitancy and inaction not an option. What are biotech operating leaders doing today to cope with the forces that could threaten corporate survival? This panel will reveal what strategies your peers are developing and will be led by executives experienced in coping with extreme financial adversity.
Emerging Models to Develop Breakthrough Discoveries
Jesús Martin-Garcia, MBA '89, is the Founder of Eclosion, created in 2004 as Switzerland’s first seed fund dedicated to life-sciences. All Eclosion companies develop “first in class” products, and two of them will start clinical trials in 2009.
We often hear that “there is not enough innovation in new pharma products,” which is difficult to understand for those close to research institutions, where there is no shortage of exciting discoveries at the science level. But few have been trying to systematically convert academic discoveries into products. Now Universities are developing early product development capabilities, with new actors emerging. We will debate whether these new trends may durably affect the level of innovation and the value chain for academic, venture capital and pharma actors in this field.
Remote Monitoring, On-Line Health and Connected Health: Models That Work
Michael Sherman, MBA '97, is Corporate Medical Director, Physician Strategies, Humana, Inc. Steven Yecies, MBA '88, is President and COO, Imetrikus.com. Maggie Pax, MBA '89 is Vice President, Business Development, MicroCHIPS, Inc. David O’Reilly is Senior Vice President, Corporate Development, Proteus Biomedical.
For years pundits have talked about ‘convergence’ – when information technologies, consumer devices and medical information are finally brought together in wireless networking applications that link patients, health care providers and family members. Yet, consumer devices and medical devices still pursue largely distinct development and marketing paths. Can an FDA regulated glucose monitoring device, for example, ever be successfully paired with a commercial attractive cell phone?
What’s Next for the Global Pharmaceutical Market?
Murray Aitken, MBA '87 is Senior Vice President, Healthcare Insight, at IMS Health, the world's leading provider of market intelligence to the pharmaceutical and healthcare industries. He has responsibility for leading IMS's thought leadership initiatives globally.
The transformation of the global pharmaceutical market is accelerating as growth in the US market registers at record low levels, while the 7 fast-growing "pharmerging markets" now represent over a quarter of total global growth. The drivers of this change are familiar but the magnitude of the growth shift is dramatic. We will discuss the consequences for large pharmaceutical companies, small biotechs, and mid-sized companies, including their strategic and operational priorities, as well as implications for the broader healthcare landscape from this recasting of the R&D-based pharmaceutical sector.
How the Current Economic Slowdown is Affecting the Healthcare Industry
Kara Fleming, MBA ’93, is a Director in the Life Sciences & Health Care practice of Deloitte Consulting, in Chicago IL. Her clients include health plans and health care providers.
The current economic slowdown is having a widespread impact, extending to the health care industry, with specific consequences for health plans, providers, and life sciences companies. Some characteristics of this economic environment, as well as recent trends in the health care industry itself, are combining to impact the health care industry in ways not previously observed. This will be a wide-ranging discussion of these impacts, and what health care organizations can do to deal with these challenging times.
Continuous Ambulatory Blood Pressure Monitoring: A Cost-Effective Solution to Disease Management
Jim Hummer, MBA ’80, is Founder and President, Luxemburg Capital, and Founder, Former President & CEO of Whole Health Management. Dr. Anthony Nunez is a cardiovascular associate surgeon at the Cleveland Clinic and Founder and President of Endotronix. He was an associate staff surgeon in the Harvard School of Medicine at Beth Israel Deaconess in 2000.
The recent convergence of microelectromechanical systems (MEMS) technology, wireless communication, and electronic medical record monitoring has led to a significant opportunity to improve healthcare delivery while streamlining the management of patient disease states. Wireless ultra-miniature pressure sensors make possible implantable blood pressure monitoring systems to address one of the most significant co-morbid factors that affects healthcare in America today. How should continuous ambulatory monitoring technology be introduced to ensure consumer acceptance? How should industry and government support the effort? What other business opportunities can be tied to this cutting edge technology?
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