Healthcare Marketplace Capstone

About this course: In the Healthcare Marketplace specialization capstone course, key skills are engendered from the four prior courses to create an original medical innovation valuation. The first course in the specialization teaches the learner to size a population or market. The second course teaches whether the clinician will or will not find value from deploying a new innovation. The third course identifies the competitive landscape of medical technology innovations to compete or complement. The fourth course, teaches how to put a monetary value on the improvement in health resulting from a new innovation. The summary of these elements creates a document of high strategic value where the learner has demonstrated not only an understanding of the marketplace but what is required for the marketplace to advance. This is what is accomplished during the Healthcare Marketplace capstone experience.

Created by:  University of Minnesota

• Taught by:  Stephen T Parente, Professor

  Carlson School of Management, Department of Finance

Basic Info Course 5 of 5 in the Healthcare Marketplace Specialization Commitment 5 weeks of study, 3-5 hours/week Language English How To Pass Pass all graded assignments to complete the course. User Ratings 4.8 stars Average User Rating 4.8See what learners said Coursework

Each course is like an interactive textbook, featuring pre-recorded videos, quizzes and projects.

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University of Minnesota The University of Minnesota is among the largest public research universities in the country, offering undergraduate, graduate, and professional students a multitude of opportunities for study and research. Located at the heart of one of the nation’s most vibrant, diverse metropolitan communities, students on the campuses in Minneapolis and St. Paul benefit from extensive partnerships with world-renowned health centers, international corporations, government agencies, and arts, nonprofit, and public service organizations.

Syllabus


WEEK 1


Welcome and Getting Started



The capstone project provides learners with the opportunity to apply the key principles and practices presented in the four courses of the Healthcare Marketplace specialization to a real-world situation. In this first module, learners will get acquainted with the overall expectations of this capstone course.


1 video, 1 reading expand

1. Video: Welcome to the Healthcare Marketplace Capstone
2. Reading: Overview of the Healthcare Marketplace Capstone
3. Discussion Prompt: Introduce yourselves

Milestone 1: What is your Health Marketplace Innovation?



In this Milestone you will describe a new medical innovation in the context of what makes it extraordinary for investment or use in a community. Your final project for this capstone will feature 4 critical milestone components for an assessment of new innovation. Once completed, hope is that you have a body of illustrate your critical thinking to advance your career or switch careers into the healthcare market.


5 videos, 2 readings expand

1. Reading: Milestone 1 - Memo Assignment Best Practice Example for NewCo's Technology
2. Video: 4.1.1 What is a Device? What is a Drug?
3. Video: 4.3.2 Preparing a Global Health Technology ‘Dossier’
4. Video: 5.1.4 Key Issues of the 21st Century
5. Video: 5.3.1 Key Questions for an Innovation Valuation
6. Video: 5.3.2 What is the Technology?
7. Reading: Slide Deck version of the NewCo Milestone 1 memo
8. Discussion Prompt: Learner-to-Learner Guidance on Milestone 1
9. Peer Review: 1st Draft of the Healthcare Marketplace Context

WEEK 2


Milestone 2: What is the Voice of the Healthcare Provider?



For the second milestone you will complete an analysis of what the key customer - the medical provider - will required of the new technology or innovation to want to use it. This will require you to ask medical providers that you encounter about the nature of the technology and whether would find it of value. Remember to always tell provider that you are a student not a sales agent. The health care delivery course provides great insight into how care is delivered and will provide the context and background for your brief 2-3 page memo resulting from this milestone.


4 videos, 2 readings expand

1. Reading: Milestone 2 - Memo Assignment Best Practice Example for NewCo's Technology
2. Video: 1.3.6 Healthcare Worker Satisfaction
3. Video: 2.4.1 What Challenges are Facing Hospitals?
4. Video: 4.2.5 Specialists: Challenges & Innovations
5. Reading: Slide Deck version of the NewCo Milestone 2 memo
6. Video: 1.2.4 PEOPLE in Healthcare Delivery
7. Discussion Prompt: Learner-to-Learner Guidance on Milestone 2
8. Peer Review: 1st Draft of The Voice of the Provider

WEEK 3


Milestone 3: Regulatory and IP Status of the Innovation



Almost any new medical technology for consideration by an investor will insist on safety and efficacy approval by a government regulator like the United States FDA. Furthermore they will insist on an assessment of whether the intellectual property (IP) that the innovation operates in is not conflicting with other IP claims. For this milestone you will complete a brief assessment of how the innovation would be classified by the US FDA as well as generate a very cursory patent search for conflicting IP claims using common and free tools on the Internet such as Google patent search and the US Patent and Trademark office web site. The assessment should be 2-3 to pages in length.


5 videos, 2 readings expand

1. Reading: Milestone 3 - Memo Assignment Best Practice Example for NewCo's Technology
2. Video: 1.1.3 Pharmaceutical Industry: Intellectual Property
3. Video: 1.2.2 Investigational New Drug (Phase 1 to Phase 4)
4. Video: 3.1.1 Medical Device Industry: Regulatory Basics
5. Video: 4.2.3 The 510k: Friend or Foe?
6. Video: 4.3.3 Keeping the Product Fresh and Safe in the Long Run
7. Reading: Slide Deck version of the NewCo Milestone 3 memo
8. Discussion Prompt: Learner-to-Learner Guidance on Milestone 3
9. Peer Review: 1st Draft of Pharmaceutical and Innovation Context

WEEK 4


Milestone 4: How will the Innovation Generate Revenue?



A great innovation needs a solid revenue model for survival-ability. In this milestone you will be asked to use parts of the prior three capstones to generate your own market report. Identifying the innovation's market space, voice of the customer, IP and regulatory path and final path roof reimbursement are critical components for identifying whether a medical innovation should advance and be sustained commercially.


5 videos, 2 readings expand

1. Reading: Milestone 4 - Memo Assignment Best Practice Example for NewCo's Technology
2. Video: 1.2.3 How do new technologies impact health care expenditures?
3. Video: 2.2.1 Introduction to Administrative Data
4. Video: 3.1.1 The Types and Uses of Assessments
5. Video: 3.2.1 Introductions to Costs
6. Video: 3.2.2 Costing
7. Reading: Slide Deck version of the NewCo Milestone 4 memo
8. Discussion Prompt: Learner-to-Learner Guidance on Milestone 4
9. Peer Review: 1st Draft of Healthcare Innovation Market Size

WEEK 5


Submitting the Final Project



The previous modules have focused on developing and getting constructive feedback on the major elements of the capstone project. In this module, the learner should use all of that feedback to submit a final version of the project that will be graded by other learners. Learners must also grade other projects which will expose them to challenges and solutions in contexts different from their own.

Graded: Healthcare Marketplace Capstone Project

Reflection and Congratulations
The work is now done! This short module provides an opportunity for learners to reflect upon the specialization, and to be congratulated on their success by the instructional team.


1 video expand

1. Discussion Prompt: What is one important thing you've learned in this specialization?
2. Video: Congratulations on Completing the Capstone Experience for the Healthcare Marketplace Specialization