November 2010 Program - Delivering Value in the Future US Healthcare Market

HBA Chicago members and guests gathered on November 18 to gain advice from a diverse and well-regarded panel of local experts.

HBA Chicago members and guests gathered on November 18 to gain advice from a diverse and well-regarded panel of local experts.

Linda Heitzman Linda Heitzman, director life science strategy and operations practice, Deloitte LLP

Linda served as the event moderator and skillfully facilitated an interactive panel discussion of regional health care thought leaders. All panelists agreed regarding on the importance of paying attention to policymakers, influencers and payors, and agreed that in the future it will take a lot more than great science and good marketing to be effective in the new world.


Following are a few highlights:

 
Carol Mayers Carol Mayers, vice president project planning & management, Takeda Global R & D

Commercial needs to get involved much earlier in the development process. No longer is it sufficient to demonstrate safety and efficacy alone. The new question is “how do you define value?” Much more up front planning is required. Flexible skill sets, with capability of working with different mindsets will be of value.

Eric Floyd, vice president, global regulatory affairs, Hospira

Agencies are looking for cost effectiveness and comparative effectiveness. Device development is beginning to mirror pharmaceutical processes. Companies are now being asked to prove clinical effectiveness. Agencies are looking for high quality and low cost products

Mary Wright, Blue Cross, Blue Shield

What does value mean to an actuary? The answer-- “Is the product or device worth the money we are spending on it?” What is the product’s contribution to health? In 2014, essential benefits will go into effect (essential benefits are what an employer must offer). This is going to have a big impact on the insurance industry and their cost profiles.

 

When asked, how individuals should best prepare for the evolving needs of companies in order to succeed in a new environment, all concurred on the benefits of being proactive vs. reactive. Panelists also advocated being open to lateral as well as vertical assignments in order to diversify one’s skill set.

Lastly, a suggestion was offered to step into the middle of change and work with it. Those that can adapt are much more likely to succeed.

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