The Business of Healthcare Innovation

Description

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.

Lawton Robert Burns, Ph.D., is the James Joo-Jin Kim Professor Health Care Management, Director of the Wharton Center for Health Management and Economics, and the Co-Director of the Vagelos Program in Life Sciences and Management at the Wharton School, University of Pennsylvania. He has conducted research on the tech sectors in healthcare for the past two decades, covering pharmaceuticals, biotechnology, medical devices, medical-surgical supplies and information technology. He teaches executives and is a regular expert witness in litigation involving these sectors.

'Understanding the dynamics of the medical device industry has been extremely important to me. Perhaps more than in any other sector, future medical devices, and the promises they hold for real solutions, represent the true intersection of high technology and health care. The information in this book provides a great understanding of this complex industry - the challenges of creating, improving, distributing and competing in this space. The materials included in this book provide an excellent foundation for anyone looking to solve healthcare problems with the incredible technology available today. I highly recommend it.' Kevin R. Sayer, President and CEO, Dexcom, Inc. 'Anyone interested in the healthcare field, absolutely needs to read this book. The perspective across all aspects of our industry gives the reader a unique understanding of how it all fits together. As I read the book I felt like I was reliving my over 40 years in the industry. A must read for all of us in a company, building a company, or investing who are committed to making a difference for patients.' Mark Levin, Co-Founder and Partner, Third Rock Ventures 'We are in the midst of a revolution that is transforming the pharma and biotech sectors, their strategies, business models, and revenue models. This revolution is breaking down the barriers between these two sectors, relabeling them both as 'life sciences', and calling for new models of discovery and commercialization. This new edition, written by industry experts, chronicles these changes to provide unique insights and learnings, and identifies the skill sets needed to help lead these sectors through revolutionary times.' John Maraganore, CEO, Alnylam Pharmaceuticals 'This is an important and opportune time to study and understand the medical technology sector of the healthcare market. This book does an excellent job of simplifying this complicated subject into its unique elements, analyzing each in a clear, direct style that illuminates the key issues facing this rapidly changing industry. The discussion of the sources of, impediments to and changing attitude toward device innovation and regulation are particularly welcome. I recommend this astute analysis to healthcare executives, policymakers, investors, innovators and anyone else who wants to understand the critical importance and future direction of the medical technology industry and its innovation for patients around the world.' Michael Mussallem, Chairman and CEO, Edwards Life Sciences