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Build an overview of product, contracting, and dollar flow between key stakeholders in the U.S. healthcare industry.
The landscape of the US healthcare industry resembles a complex and fragmented puzzle with various types of pieces. Numerous stakeholders, including healthcare providers, insurance companies, pharmaceutical manufacturers, and government agencies, contribute to a system that often appears intricate and challenging to navigate. The intricate web of regulations, varying payment structures, and the multitude of players involved can make understanding the flow of dollars, products, and contracts seem like solving a 1000-piece puzzle without edge-pieces.Imagine that a pharmaceutical organization that partners with Company X, has reached out asking for support to provide an overview of the value drivers of key stakeholders in the healthcare industry and the flow of product, dollar, and contracts between these stakeholders that they plan to use to train their salesforce new hires. This information will provide a foundation for their salesforce that will help them navigate conversations with healthcare providers, hospital administrators, and payers. You are part of the Company X team and will have to work on this challenge.
In this project, you will first describe the roles, responsibilities, and value drivers of key stakeholders in the healthcare industry including Beneficiaries, Pharmacies, Wholesalers, Payers, Providers, Manufacturers, Funders, and Pharmacy Benefit Managers, and then create a visually appealing flowchart that accurately represents the flow of product, dollar, and contracting between them. This is an opportunity for you to understand the value that each of these stakeholders provide to the healthcare system and how they co-exist to finally provide affordable and quality healthcare services to patients. After completing this project, you will get a deep understanding of the intricacies of the US healthcare industry, develop strong strategic thinking, research, and analytical skills, and improve your ability to communicate your knowledge and insights gathered in a clear, specific, and visually appealing format.
Get to know the Build Fellow and other students, ask questions about the project requirements, prepare your workspace.
Construct a high-level description of the role Beneficiaries, Pharmacies, Wholesalers, and Payers play in the US Healthcare Industry.
Build an overview describing the value of Providers, Manufacturers, Funders, and Pharmacy Benefit Managers in the US Healthcare Industry.
Understand and illustrate the flow of dollar between stakeholders in the US Healthcare Industry.
Follow and describe the movement of products (e.g., drugs) through different stakeholders until it reaches consumers/patients.
Outline the contractual relationships between stakeholders and how they support the US healthcare industry.
Using a patient case study, build a flowchart of product, dollar, and contractual relationships.
Polish your project deliverables and present them to the Project Leader and other students in the final group session.
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Ranganath is a dedicated Life Science Consultant with a passion for addressing complex business challenges faced by healthcare providers, payers, and patients. With a strong focus on pharmaceutical brand strategy, salesforce training and development, and healthcare market research, he brings a wealth of expertise and motivation to his work.
Ranganath's academic journey includes a master's degree in Healthcare Management from Johns Hopkins University and a bachelor's degree in Biotechnology from the Vellore Institute of Technology, India. These academic achievements have equipped him with a solid foundation to make meaningful contributions to the healthcare industry.
Driven by a commitment to values-based practices, Ranganath strives to make a positive impact on global healthcare and improve patients' lives. His work is a testament to his dedication to advancing the mission of better health outcomes for all.