Module 5 Overview

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From the course by University of Minnesota

Healthcare Marketplace

286 оценки

University of Minnesota

Healthcare Marketplace

286 оценки

Course 1 of 5 in the Specialization Healthcare Marketplace

In this course in the Healthcare Marketplace specialization you will identify, define, and describe potential business and public policy solutions to the challenges facing society’s growing demand for health services. Students will master a body of knowledge on the health care sectors major components through reading and reflection. Healthcare has many different cultural components that will be discussed as historic trends as well as future demographic challenges. You will understand diverse philosophies and cultures within and across societies as they relate to healthcare. This outcome is particularly critical because of the tradeoffs needed to be assessed as medical technology advances faster than budgets and perhaps cultures are sometimes willing to tolerate. At the end of the day, you will gain an appreciation for the role of creativity, innovation, discovery, and expression across disciplines in the development of new medical care solutions through and examination of the physician, medical technology and financing sub-sectors of the health economy.

From the lesson

GLOBAL MEDICAL INNOVATION

In this module you will learn about the global market trends. You will also learn the key components of medical technology valuation. The take-away messages from this module are that health economy continues to expand and there are many behavior challenges that are problems as well as opportunities. The module concludes showing a promising technology that is novel, needed, cost-effective and will deliver return – rare qualities when all are checked-off. The skills gained from this module are targeting global health market trends ripe for opportunity as well as knowledge of the checklist of key areas to be covered for the capstone project’s assessment of a promising new innovation.

Module 5 Overview3:09

5.1.1 Globalization of the Medical Industry3:01

5.1.2 Medical Tourism Evolution & Growth6:52

5.1.3 Medical Tourism: The Case of India3:48

5.1.4 Key Issues of the 21st Century4:04

5.1.5 Health 'Bads' and Their Consequences9:53

Meet the Instructors

Stephen T Parente
Professor
Carlson School of Management, Department of Finance

Module five focuses on, future medical innovations.

And this is really, one of the most exciting module's I think that we do.

If, module one talks about the twentieth century and the opera, and

the wonderful things that come together to create a, healthcare marketplace.

What module five really talks about is the future, the twenty first century and

what lies beyond and what's exciting is that you can see, for example that little

model city that is in that picture there is really not a model city anymore.

Its Dubai Healthcare City in the Middle East.

And the goal of Dubai Healthcare City is essentially to have that white building in

the back to be a giant academic medical center staffed by academic

universities from around the globe, initially contracted with Harvard, and

the Mayo Clinic has come on board now as well.

And those buildings that kind of ring it are actually made up of medical technology

firms, pharmaceutical firms, biotechnology firms are indeed components of

universities all sharing collaboratively.

To literally invent new technologies and make them available from patients coming

from around the world to Dubai for those new innovations.

Now, Dubai's not the only place that's doing this,

in Minnesota actually the Mayo Clinic is turning Rochester,

Minnesota into its own destination healthcare.

The same idea, just with a little more snow.

You find that Cleveland Clinic is doing the exact same thing.

Baltimore, Maryland is trying to transform the entire space around

Johns Hopkins University to achieve that same mission,

and all of them are very much focused on the patient as a global consumer.

So if you look at some of those other pictures that are available

on the screen you might wonder what's really going on there.

Well the Airbus A380 really is the dominant plane that flies into Dubai.

One could imagine a situation where you have a fusion of that plane to the left,

that giant hulking plane that's really bigger than the A380 which has a galaxy

five from the US air force.

Also really almost a triple decker in terms of what's inside.

But what's intriguing about that plane is that it was used for

medical evacs from Afghanistan and Iraq to fly people directly to Germany and

do surgical procedures on them in a gimballed suite on the plane.

One could imagine essentially pre-op for

different medical procedures being done on these planes commercially as well and

to go one step further with an interesting analogy.

On the far right at the top there you can see a lovely cruise ship.

That's the Disney Magic.

One could imagine maybe in the future it could be renamed or

re-purposed as the Disney Medical Magic.

Where different orthopedic procedures are done at sea.

Another variant of medical tourism, family and friends could be around for

helping for recovery, it could be a three or four day stint and

literally the procedure is done.

You offload and off you go on your physical therapy

with a combination of the services available to you.

Impossible, maybe not, but these types of

ideas are really what's on the cusp of what's there for the 21st century.

Everything that we've talked about in terms of insurance, marketplace,

all that stuff is still in tact, it's just looking for new avenues to

basically keep people healthier, live longer and really improve their lives

[MUSIC]

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