Policing Drug Prices in America: The Institute for Clinical and Economic Review
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Happy New Year! 2019 ushers in a new look for the Wharton Healthcare Quarterly beginning with the PDF version of the publication. And in the April edition you will experience the updated design of the web version.
Additional enhancements for 2019 will include:
- more articles in an interview format
- the return of the Wharton Around the Globe column
And, with all the changes the healthcare arena brought to us in
2018, this year promises to be as unpredictable and volatile as ever before. Therefore, it is fitting that the first issue of the year provides an even more eclectic series of articles than usual and covers myriad facets of the changing landscape and the impact on stakeholders. And it also seems to illustrate what appears to be a vacillating tug-of-war between technology and the many forms of human "touch".
I encourage you to take the time to dig in to gain insights, perspectives, and up-to-the minute news that will keep you abreast of trends, innovations, and opportunities in healthcare.
Lastly, the 25
th annual Wharton Healthcare Business Conference was held January 31 - February 1. This year's theme was "Challenging the Status Quo in Healthcare." Check out the
keynote speakers and
panel topics.
Z. Colette Edwards, WG'84, MD'85
Managing Editor
To learn more about Colette,
click here.
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The President's Desk
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Last year the WHCMAA provided over $50,000 in scholarships to Wharton Health Care Management (HCM) students through the (1) June Kinney and (2) William L. Kissick, MD scholarship funds.
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Not a Freudian Slip: The Magic of Music on Health
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Sitting at a traffic light blaring a song as loud as my ears would tolerate, I laughed at the sight of my reflection in the rearview mirror, singing each word as if I were the one on stage performing. My anger melted away as I jammed out to Can't Stop the Feeling! Then I began to wonder, did this song transport me momentarily to a space that erased the frustration I was carrying from an earlier disagreement with my co-worker? Can music lift me out of a funk? This article provides an overview of how music positively impacts all seven dimensions of health.
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The Philosopher's Corner
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This eclectic standing column features insightful musings, words of wisdom, life lessons, and stepping stones to business success. This month's philosopher is Brian Corvino, WG'11. Brian is a Senior Vice President with Decision Resources Group.
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We'd love to hear from you and invite you to click here to participate in future editions.
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Affidavit: Healthcare and the Law
- A Prescription for a Changing Healthcare System
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The role of PBMs is little known and even less understood. PBMs may be obscure entities, at least to the average American not ingrained in the healthcare industry. However, the once hidden middleman has been recently thrust into the spotlight as the subject of much controversy surrounding high drug prices and mega mergers. This article briefly explores the role of PBMs and the current controversy that surrounds these drug behemoths.
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| Downloading Success: Beyond Onboarding |
Most new leaders fail within 18 months. Executive Installation makes those odds a whole lot better.
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The traditional model says if a human expends 1000-1800 calories/day at rest and then adds physical activity for an additional 30-50%, the totality for the day might be ~1400-2500 calories expended. Herman Pontzer, an anthropologist from Hunter College, terms this the additive approach to energy expenditure. Unexpectedly, there is evidence from distance runners and traditional Tanzanians that it isn't quite that simple.
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Think about your neighborhood...is it walkable? Are primary care providers nearby and easy to access? Are there safe parks and affordable grocery stores? If not, your health could be at risk.
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Recognizing the critical nature of patient care in an ICU setting, the appropriate coordinated involvement of families has proven to yield faster recovery and higher end points, while actually lowering the total costs of care. Closer attention to patient perception and family satisfaction offers an avenue for continued improvement for both patient care and resource management.
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As the digital revolution continues to disrupt existing business models and blur the boundaries between vertical industries, the potential for strategic partnerships to reinvent, disrupt, or defend a market position are like none we've seen previously. Strategic partnerships have become an important part of the CEO agenda and will continue to play a vital role in healthcare's transformation. Ping An in China has already demonstrated the efficacy of the partnership model. In the U.S., Amazon could disrupt healthcare by building a connected healthcare ecosystem, while incumbents such as CVS Health can use strategic partnerships to defend their market position.
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If you listen to the water-cooler chatter these days, Baby Boomers are living with some broad generalizations about Millennials. Descriptors include: social-media obsessed, impatient, narcissistic, and lacking stick-to-itiveness. They want to have fun, travel, and rain on our parade because they know better.
After working on a project that allowed me to probe the experiences and aspirations of twenty-nine millennials, I now challenge these views and hope a better understanding will allow us to "set the table" for our next generation of leaders. As with all generalizations, we can always find some case that supports the story, but the overall take is misguided and incomplete.
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There's a lot of talk around artificial intelligence (AI) in healthcare: early detection, personalization, even disease diagnosis -- all from crunching large volumes of data. In almost all cases, AI either directly interacts with the user, chatbots for instance, or empowers the physician to better understand his/her patient. The AI-human relationship has so far been one-on-one. But what if AI could connect a group of humans together to heal one another?
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My transformation journey at Eileen Fisher really took root in my third week on the job. It was May 2014 and I was sitting in Eileen's living room on retreat with most of my Leadership Learning and Development team members. Two-and-a-half hours into the experience, while drums were beating in the background, I found myself doing interpretive dance as a tree blowing in the wind to a poem co-written by my colleague and read in spoken word about a Bumble Bee Trying to Find Her Nectar. After our performance, my boss came up to me and said, "You know you're in a different world now, don't you?" And so began, my journey as a man learning that I'd need to embrace and elevate my feminine energy to really understand and thrive in this environment.
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Wharton Global Health Volunteers (WGHV) supported the 100 Person Village Initiative led by Dr. Osayame Ekhaguere during the 2017-2018 academic year. The 100 Person Village Initiative aims to improve the effectiveness of neonatal care across Nigeria.
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In this series of articles, we will introduce tools and ideas for realizing "systemness" by defining and aligning strategy and leadership, integrating the clinical enterprise, and enhancing corporate services.
The promise of population health has led large health system and academic medical centers to engage in many different forms of mergers, acquisitions, and partnerships (MAP) in an attempt to provide care across the continuum. While MAP may be necessary to support population health, it is not sufficient by itself. The ties that bind successful MAP results come from work focused on building shared culture, structure, and processes to build a system that is a whole greater than the sum of its parts.
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Disclaimer: The opinions expressed within are those of the authors and editors of the articles and do not necessarily reflect the views, opinions, positions or strategies of the Wharton School and/or the University of Pennsylvania, and/or their respective organizations. Publication in this e-magazine should not be considered an endorsement. The
Wharton Healthcare Quarterly e-magazine and WHCMAA make no representations as to accuracy, completeness, currentness, suitability, or validity of any information in this e-magazine and will not be liable for any errors, omissions, or delays in this information or any losses, injuries, or damages arising from its display or use.
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