New research & insights informing the business of health care
Health Management, Policy and Innovation (HMPI) — an independent, peer-reviewed, open-access journal — features actionable, business-based insights to address challenges faced by healthcare organizations worldwide. Published by the Business School Alliance for Health Management (BAHM), HMPI invites original translational research papers, analyses, and commentaries that are written by and for industry practitioners, policymakers, faculty, students, and journalists.
We solicited papers to address timely topics at the forefront of discussions and decision-making in health management research, policy, education, and practice. This issue focuses on de-escalating healthcare costs and addressing market challenges through innovative, data-driven solutions.
Applying Precedents Thinking to the Intractable Problem of Transaction Costs in Healthcare
Brooke Istvan, Perry Nielsen Jr, Megan Eluhu, Bryan Kozin, Walt Winslow, David Scheinker, Kavita Patel, Kenneth Favaro, Stefanos Zenios, and Kevin Schulman, Stanford University
A new approach to innovation provides a template for how standardized, modularized digital contracts and a uniform financial transaction platform could help save up to $265 billion in annual administrative waste in U.S. healthcare.
Why AI Is Good for Our Health but May Hurt Our Wallets
Sneha S. Jain, Morgan Cheatham, Bessemer Venture Partners, Michael A. Pfeffer, Linda Hoff, and Nigam H. Shah, Stanford University
To ensure AI tools enhance care quality without disproportionately raising healthcare costs, the authors recommend standardized pre- and post- deployment evaluation of their clinical value and alignment of AI deployment modalities with sustainable business models.
The Reality of Medicare Part D Drug Price Negotiations Under the Inflation Reduction Act
Markus Saba, Tanya Aggarwal, Ashwin Ramanathan, and Stewart Spanbauer, UNC Kenan-Flagler Business School
The Inflation Reduction Act aims to reduce the cost of drugs covered by Medicare, but the real-world impact could mean higher premiums and out-of-pocket costs for patients.
Ernest G Ludy, Founding CEO, Medstat Systems; Senior Advisor, Clinical Excellence Research Center, Stanford University
High-inflation healthcare is a choice. Adopting the optimal care business model as a national strategy would leverage the immense buying power of business and government to stabilize premium inflation by reducing suboptimal care.
A Requiem for Value-Based Care
Kevin Schulman, Stanford School of Medicine
Addressing the failure of value-based care models to provide solid, cost-effective care delivery, requires a holistic, market-level analysis by U.S. policymakers.
Cheyenne Ariana Erika Modina, Sandra Waugh Ruggles, and Josh Makower, Stanford University
Addressing regulatory challenges, improving communication, and enhancing early engagement between the FDA and stakeholders will accelerate the development and approval of this class of life-saving therapies.
Avik Ray, Brigham and Women’s Hospital, and Chirantan Chatterjee, University of Sussex Business School
As drug companies leverage the marketing clout of social media and telehealth, updated guidelines, collaborative oversight, and independent research become more necessary.
Pinar Karaca-Mandic: Researcher, Entrepreneur & CEO
Pinar Karaca-Mandic, Carlson School of Management, University of Minnesota, and Kirsten Gallagher, Managing Editor, HMPI
Dr. Karaca-Mandic discusses the research path leading to the formation of the XanthosHealth and how she leverages her role as both a scholar and entrepreneur.
Better Health Economics: An Introduction for Everyone
Tal Gross, Professor, Department of Markets, Public Policy & Law, Questrom School of Business, Boston University
Tal Gross provides an overview of the book he co-authored with Matthew J. Notowidigdo that is described as an “ideal entry point into health economics for everyone from aspiring economists to healthcare professionals.”
Regi’s “Innovating in Healthcare” Cases: GoodRx
Regi, aka Regina E. Herzlinger, is the Nancy McPherson Professor of Business Administration at Harvard Business School and author of bestselling trade books on healthcare. “Regi’s ‘Innovating in Healthcare’ Cases,” a regular HMPI feature, highlights teaching materials focused on healthcare innovation. In this issue, we look at why the GoodRx business model could face challenges.