The Business of Healthcare Innovation

'Never has the need for a reasoned analysis of the business of healthcare innovation been greater. The costs of innovation have been escalating steadily for decades and the willingness and ability of society to fund ongoing innovation is under strain. At the same time, as healthcare becomes increasingly complex those participating - basic and discovery scientists, product developers, providers, and those involved in regulating, managing and funding the system - become more specialized and find it harder to understand the industry as a whole. Yet the components of the system are not independent of one another and we ignore the inter-relationships at our peril. This badly needed volume will be a compelling read for those directly involved in healthcare, for students aspiring to enter the system, and for the rest of us who one way or another collide with the system more often than we might like.' Peter A. Tollman, Vice President and Director, The Boston Consulting Group

'The health care sector of the developed world's economies has become one of the most significant in terms of both cost and human benefits created. The authors have done an excellent job of providing a clear understanding of the basic industry platforms that create both the product innovation and their associated benefits and costs. The book also provides valuable insights as to how the diverse segments converge to create the rapidly changing health care experience impacting both patients and payors.' James Vincent, Chairman and CEO (ret.), Biogen

'All sectors of the healthcare products industry are not the same. The Business of Healthcare Innovation provides an interesting primer on the various product categories while framing key questions regarding the future evolution of this fascinating industry.' Arthur D. Collins, Jr, Chairman and Chief Executive Officer, Medtronic, Inc.

'This book presents a concise analysis of the factors influencing innovation in the health supplier sector. It is highly recommended for programs in health services management and will also be of interest to health care executives seeking to obtain a deeper understanding of the supplier side of the industry.' Stephen M. Shortell, Dean, School of Public Health, University of California, Berkeley

'This book is an up-to-date and authoritative description of innovation in the healthcare industry. While there is substantial change in how healthcare services are delivered and reimbursed, the focus here is on innovation in products. This is appropriate as new pharmaceuticals and devices generate the greatest new benefit to patients and value to our economy. In addition to related subject matter, the book provides a comprehensive discussion about the biotechnology industry, in particular those companies devoted to the healthcare sector: their innovations, financing, development, evolution, and how they are regulated on a global basis. The profound impact biopharmaceuticals are having on serious diseases is effectively illustrated by cogent examples of breakthrough medicines and the companies that developed them. This book presents compelling evidence that the pharmaceutical industry, with its productivity gap, has become evermore dependent on the biotechnology industry as its engine of innovation for new products.' L Patrick Gage, Venture Partner, Flagship Ventures

'This timely and well-written volume provides a needed analysis of the health care sector that delivers technological innovation. I am particularly impressed with both the breadth and depth of coverage that Lawton Burns and colleagues achieve here, given the expansive topic.' Edward J. Zajac, James F. Beré Distinguished Professor of Management and Organizations , Kellogg School of Management

'The business of medical technology is virtually ignored in most academic books, despite the sector's substantial size, growth rate, complexity, and promise. The Business of Healthcare Innovation ably fills this gap. It couples authoritative, complete descriptions of each of the major components within medical technology - pharmaceuticals, biotechnology, medical devices, and information - with cogent analyses of how adept managers gain and sustain competitive advantage.' Regina Herzlinger, Harvard Business School