Healthcare is one of the world's largest and fastest-growing industries, representing over 10 percent of GDP in most developed nations. In the U.S., healthcare spending reached over $4.3 trillion in 2021, or roughly $13,000 per person.
With AI already transforming how healthcare is delivered, and AI-driven drug discovery revolutionizing biotechnology, business schools are perfectly positioned to contribute with their research and future generations of industry leaders.WWE NXT Results: Winners And Grades On Tuesday Night War Vs.
With so many business schools looking to help solve some of the world’s greatest challenges, and balance the needs of people, planet and profit, healthcare is high on the list, both for the giants of the industry or innovative startups. New forms of healthcare enterprises both challenge and work alongside existing healthcare systems because they are, if nothing else, extremely entrepreneurial. Likewise, the challenges confronting the industry are distinctly business-oriented in nature...
And yet, despite this, too often we continue to consider the operations happening in healthcare from a purely medical perspective. “Successful operations in this industry need to optimize flow and capacity, enterprise resources planning, workforce development and facilitates management,” Lobo identifies - all areas where experts are best found in business schools.resources planning, workforce development and facilitates management — all areas where experts are best found in business schools.
Business schools are naturally more in tune with the demands markets can place on organizations and are better placed to talk on the positioning of healthcare in an evolving economy; Northwestern’s Amanda Starc and Chicago Booth’s Thomas Wollmann argue that allowing common and generic drugs to be manufactured on a wider scale is the best solution to preventing price-fixing and high pharmaceutical costs.
Professors Walter Van Dyck from Vlerick Business School and Professor Massimo Riccaboni from the Institute for the Management of Technology have examined the impact of transparency in pharmaceutical pricing. While transparent pricing may initially appear to promote fairness and affordability, their research reveals a more nuanced reality. Under transparent pricing, pharmaceutical companies find it challenging to adjust their profit margins according to varying economic conditions.
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