CONNECTION TO THE CORE AND PREREQUISITES
This class will be conducted as a survey level class addressing Healthcare IT (HCIT) and Digital Health use cases while applying core Management Economics and Managerial Statistics concepts related to complex decision making and modeling uncertainty. Core Marketing concepts related to competitive analysis, and strategy will be integral to studying the different HCIT/Digital Health markets. Additionally, elements of Decision Modeling will be applied to study market dynamics.
Important note: This class does not require a deep knowledge of IT or technology as materials will focus on applying these technologies to create clinical and financial improvements to the healthcare system. However, strong healthcare background is required as students must have a good working knowledge of the U.S. healthcare delivery system including:
- Traditional roles of hospitals, physicians, payors, consumers and pharmaceutical manufacturers
- A general understanding of healthcare reimbursement practices and models
- Recent trends toward risk sharing including Population Health Management and Accountable Care Organizations
- A basic familiarity with the pharmaceutical R&D process and overall marketing approach
This course will explore the opportunities related to applying Digital Health and HCIT to benefit the various healthcare stakeholders (providers, payers, consumers/patients, pharmaceutical companies). Structural elements, payment models and complexity inherent to our healthcare system create unique challenges related to using IT effectively as compared to other industries, but these barriers are being rapidly overcome. This class will examine the existing healthcare IT framework as well as innovative approaches taken by early/mid stage Digital Health companies and Healthcare IT market leaders.
The course will highlight the principles that govern HCIT / Digital Health success, and the impact that recent trends in legislation, evolving reimbursement models, technology and fundamental changes in research and care delivery are having in advancing the opportunities for Digital Health as a driver of healthcare transformation. The course will include a mix of lectures, case studies and guest speakers, while leveraging the experience and interests of the class.
- Understand the historical HCIT ecosystem and the position of Digital Health companies in this context
- Review HCIT / Digital Health strategies and value propositions across different health sectors
- Explore the siloed nature of healthcare information and related interoperability challenges
- Identify the many and emerging HCIT/Digital Health vendor niches
- Build a thesis around HCIT/Digital Health success factors
You will be expected to submit two 1-2 page written homework responses which will be based on prompts related to assigned readings and will be due before class. ). Also note that readings will be assigned which are expected to be completed prior to the first class. Additionally, a final project evaluating an application of HCIT or Digital Health can be completed as a 5-7 page paper or as a group presentation/power point deck. (Further details related to the final project will be discussed in our first class. Late assignments will not be accepted unless there is an exceptional circumstance. Grades will be assigned on an individual basis and the grade will be out of a maximum of 10 points.
Class participation will be based on attendance using a sign-in sheet, as well as the extent and quality of contributions to class discussions.
Course grading will be based on the following evaluation weights:
CLASSROOM NORMS AND EXPECTATIONS
Students are expected to adhere to CBS Core Culture in this class by being Present, Prepared, and Participating. Students should not use electronics during class. Most classes will include a guest lecture from an industry expert. Please refrain from exiting the room during guest lectures. In most classes, the guest lecturers will present first, so it is imperative that you come ON TIME. Consistent lateness and talking during guest lectures will have a negative effect on your participation grade. We will be posting bios of each guest speaker before class, so please come prepared to ask industry or company specific questions.
Adjunct Associate Professor
Raymond G. Falci currently serves on several healthcare boards and is an adjunct professor at Columbia Business School, having previously worked on Wall Street for 20+ years. Mr. Falci was a Managing Director at Cain Brothers from 2006 to 2016, serving on the Executive Committee and co-heading the firm’s Services & Technology practice. Ray’s banking focus included Healthcare IT and Revenue Cycle Management...