Chart a new course
The health sector is intricate, dynamic, and far-reaching—a global network of entities that impacts people and economies like no other industry. Legislation, public and private exchanges, and new technologies offer incredible opportunities to improve the experience of care, reduce costs, and improve the health of patients. Navigating Health Care Trends (virtual) gives you the opportunity to delve into emerging issues with leaders across multiple industry domains. You’ll gain a broader perspective on emerging issues and new approaches to problem-solving.
"As a physician with a background in both the academic and private practice settings, I have been directly impacted by the fractured healthcare system in the US. This course provided me valuable insights into both the current state of the healthcare industry from the vantage point of its various constituents and the innovative factors disrupting the status quo. I found the faculty to be informative and engaging. I also benefitted greatly from hearing the viewpoints of fellow attendees. I have no doubt that this course will inform my decisions as I consider a career transition within this industry." —Dr. Vashali Mankad, Navigating Health Care Trends Participant, March 2018
Hear faculty member and course instructor David Ridley describe how he approaches the program:
New Feature!
Our Navigating Health Care Trends (virtual) program now features an opportunity to touch base with your faculty and fellow participants once you've returned to your work routine. You'll have the ability, through a virtual " live class," to discuss any changes in the health care industry subsequent to the course, address challenges you may have applying some of the course concepts in your own organization, or share opportunities you've been able to realize by applying your new skills and capabilities.
This virtual engagement, held one to two months after the conclusion of the scheduled program, is at no additional cost to you. You'll have the benefit of getting additional perspectives on issues or situations not addressed in class, as well as reconnecting with your cohort of participants.
Who Should Attend?
Professionals and executives in health care strategy, sales, marketing, IT, finance, patient care, or administration will gain the most from the curriculum, but the program is valuable for anyone who needs to understand how health care organizations prosper in the industry’s evolving landscape. If you need to understand how to perform your role more effectively as your organization seeks to leverage the industry dynamics, but you're too busy to take time away from the office, or you're unable to travel to Durham, NC for the in-person program, this is the ideal program for you.
- The virtual format allows you to work at a pace that suits your learning style, no matter how familiar or unfamiliar you are with the health care industry.
- Virtual classes are recorded and available to participants online, so you may review them as frequently as you choose in order to master the material.
More About the Program
Get ready for four sessions of intensive learning from faculty and industry peers. Engaging in lectures and case-study discussions, you'll explore how rapid shifts in the health care landscape affect sectors beyond your own and discover how peers in the industry navigate the challenges and opportunities that result.
This virtual learning course consists of:
- Four 90-minute live-streamed online class sessions (held on consecutive days) and a 60-minute orientation
- Daily team exercises, which provide an opportunity to gain insights and perspectives from other participants in other industries and functions
- Robust class discussions with your instructor and your course-mates, who face similar challenges and work dynamics to yours
Classes will be held using widely available video-conferencing technology, which has become our virtual teaching platform. The technology creates a virtual classroom where you can see the professor and presentation screen, as well as seeing the other participants. Similarly, the professor can see all of the students who engage online during the group session. You’ll be able to communicate with both the professor and your peers through this platform. This technology is the same as the one we use in our executive MBA classes.
To participate in this course you will need to have a working webcam, built in or attached, and have downloaded the Zoom Cloud Meeting app onto your laptop.
If you have any questions about this requirement, call the Duke Executive Education team at +1.919.660.8011 or Toll Free +1.800.372.3932, or email us at execed-info@duke.edu.
New technologies, new competitors, and new policies create continuous change, and this virtual course is structured to show how these dynamics upend business models and cause players to re-evaluate their approaches.
Topics
Disruption for Providers
- Disruptive Innovation in Health Care
- Affordable Care Act
- Value-Based Payment
- Medical Value Travel
- Innovation in Emerging Markets
Disruption for Payers
- Bundling
- Capitation
- Accountable Care Organizations
- Consumer Perspective
Current Events in Health Care
Program Objectives
At the conclusion of the program you’ll be able to understand:
- The perspectives of your partners and competitors in the health care ecosystem.
- Your customers' needs to improve the value of your health care product or service.
- Changes in the way providers and manufacturers are paid.
- The workings of alternative payment mechanisms, including accountable care organizations.
- Insurance economics including adverse selection, moral hazard, and risk pooling.
- Which disruptive forces can succeed in the constrained health care space where government plays an important role in regulation and reimbursement.
- How to reallocate resources based on shifting paradigms.
- How to be health care leaders who understand current health care institutions and economics, and the implications of health care strategy for profits and social well-being.
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Sample Schedule
Introduction
Cohort Introduction
Session Duration: 1 hour
Session 1
Topic
Consumer-Driven Care
Pre-session Preparation (allow for
3-6 hours of preparation for each session)
1. Watch Professor Ridley's Video Lectures:
- Healthcare Spending (10:42)
- Health Insurance (4:14)
- Insurance Economics (8:21)
- High-deductible Health Insurance (6:07)
- Medicare and Medicaid (4:51)
2. Read the case assigned for this session (TBA)
3. Submit answers to the assessment
Session Duration: 1:30 hours
Faculty
David Ridley
Session 2
Topic
Accountable Care Organizations
Pre-session Preparation (allow for
3-6 hours of preparation per session)
1. Watch Professor Ridley's Video Lectures:
- Managed Care (10:46)
- Medicare and Medicare Managed Care (5:40)
2. Read the case assigned for this session (TBA)
3. Submit answers to the assessment
Session Duration: 1:30 hours
Faculty
David Ridley
Session 3
Topic
Health Care Disruption
Pre-session Preparation (allow for
3-6 hours of preparation per session)
1. Watch Professor Ridley's Video Lectures:
- Medical Value Travel (13:38)
- Retail Clinics (6:12)
2. Read the case assigned for this session (TBA)
3. Submit answers to the assessment
Session Duration: 1:30 hours
Faculty
David Ridley
Session 4
Topic
Conversation with a Health Care Executive
Pre-session Preparation
Email Professor Ridley with recommendations for topics we should discuss with Dr. Caveny, who has been a C-suite executive for a major insurer and diagnostic manufacturer. No video or reading requirements.
Session Duration: 1:45 hours
Faculty
David Ridley and Brian Caveney
Included in this program is an additional virtual session that will be held one to two months after the completion of the course. This live engagement will be an opportunity to revisit concepts from the program, discuss challenges and successes implementing new ideas in your organization, or explore new events in the health care industry with your faculty and your program cohort.
Bonus Virtual Session
Topic
Follow-up and Current Events
Pre-session Preparation
Email Professor Ridley with recommendations for current events the class should discuss
Faculty
David Ridley and Brian Caveney
Faculty
David Ridley
David Ridley is a professor of business and economics and the faculty director of the Health Sector Management program at Fuqua. Professor Ridley’s research examines innovation and pricing in health care; he was the lead author of the paper proposing the Priority Review Voucher program that became law in 2007, and created a market of more than a billion dollars for drug development for neglected diseases. Professor Ridley was the principal investigator on a grant from the Bill & Melinda Gates Foundation for 2018 to 2020. He has taught health care management to more than 3,000 graduate business students, and has consulted for life sciences companies including Amgen, Eli Lilly, Genentech, GlaxoSmithKline, Novartis, and Pfizer.
Brian J. Caveney MD, JD, MPH
Brian Caveney is president of diagnostics and chief medical officer of LabCorp. Previously, he was chief medical officer of Blue Cross Blue Shield where he directed the development and implementation of strategies to help employers control health care costs while improving the health of their employees. Earlier in his career, Dr. Caveney served as a physician and assistant professor at Duke University Medical Center and co-directed the preventive medicine course in the Duke University School of Medicine.
How to Register
For more information about how to register, please see our detailed instructions.
Frequently Asked Questions
For additional information about our Executive Education programming, please visit our FAQ page.
Adapt to the changing landscape
The biotechnology and pharmaceutical industry is complex, not just because of the science, but also because of changing reimbursement practices and regulatory policies. If your organization engages with drug discovery or development at any stage of commercialization, you need to be aware of and understand changes to reimbursement or regulation and their implications for your firm.
Given the industry’s complexity and interdependencies, familiarity with only part of the biotech and pharma industry is not enough for success. Managers involved with drug discovery need to understand what comes after drug development, including whether payers will cover the product and whether providers will adopt the product. Drug makers, payers, providers, regulators, investors, and consultants in this space will find that gaining perspective on interlinkages across the industry enables you to add more value to your stakeholders, and ultimately to your bottom line, through your strategic plans, your drug development operations, your new opportunity identification, etc.
Gain a Broad Perspective
Whether you are inside the biotechnology and pharmaceutical industry or someone who interacts with the industry (for example, a payer, provider, consultant, or investor) Drug Development, Reimbursement, and Regulation (virtual) will broaden your perspective of the fundamentals and changes in the industry. The live-streamed course consists of virtual discussion-based class sessions on key trends in biotechnology and pharmaceuticals, such as:
- Increasing pressure on prices
- Some government factions look to tie U.S. drug prices to foreign prices, while others want to negotiate drug prices. How will these policies affect which drug development and launch strategies you choose?
- Drug makers are exploring alternate pricing, including an outcomes-based pricing model in which they are paid only if the drug works. Under what conditions should payers and drug makers sign outcomes-based contracts?
- Smaller patient populations
- Diagnostics are becoming better at identifying which patients respond best to which medicines. Should your organization partner or merge with diagnostic organizations in your vertical? How does the availability of a diagnostic affect your launch price?
- Many companies are focusing on rare diseases, moving away from the old mass-market model. Will there still be mass-market drugs? If all drugs are for rare diseases, what does this mean for regulation, prices and spending?
- Lifecycle of a drug from innovation to generic competition
- Drug makers rely on patents and exclusivity, including exclusivity for orphan drugs, for pediatric testing, and for data. Even generic drug makers receive exclusivity protections from other generics. When do these exclusivities apply and how do they change behavior?
- Faced with patent expiration, drug makers experiment with ways to extend revenue, including launching follow on products, authorized generics, and over-the-counter products. Given increasing pressure from payers to choose cost-effective drugs, can these strategies succeed?
Who Should Attend?
This live, online program offers a broad perspective of the issues surrounding the identification and introduction of new drugs, which will be useful to:
- Mid to senior-level health care leaders who either work in biotechnology and pharmaceuticals or interact with those who do.
- Within biotech and pharma, those occupying roles in strategy, marketing, R&D, product development, sales, government affairs, and business development.
- Leaders who have recently switched careers into health care, consultants with health care clients, scientists and MDs who want to commercialize a drug, and health care investors.
NOTE: This virtual program will dive deeper into drug development strategies and challenges, making it a valuable complement to our Virtual Navigating Health Care Trends program.
"Professor David Ridley successfully harnessed the power of core academic modeling blended with real-life business cases to deliver extremely relevant training. The complex and in-depth content was presented in an easily digestible format. Moreover, the supporting materials that were provided will continue to be valuable references for all attendees to lean on when making critical decisions. In a marketplace full of claims of “domain expertise,” it was refreshing to learn from an instructor who has directly impacted the pharmaceutical industry in significant ways."
Christopher KennedyPresident of Elixell Therapeutics
Recent Drug Development, Reimbursement, and Regulation (virtual) participant
More About this Program
Are you ready to gain substantial insights into how the drug development industry works from a range of industry player perspectives? Enhance your contributions to your organization and increase value for your stakeholders by understanding the opportunities and challenges in creating and executing new drug products.
This virtual course consists of:
- Three 90-minute live-streamed class sessions (held weekly over the three-week period)
- Twelve supplementary 15-minute videos, which you should review at your convenience prior to the 90-minute faculty-led class
- Robust live, online class discussions with your instructor and other participants, who come from across the health care industry
Classes will be held using Zoom video-conferencing, which has been extended into a virtual teaching system. This system creates a virtual classroom where you can see the professor and presentation screen, as well as seeing the other participants. Similarly, the professor can see all of the students who engage online during the group session. You’ll be able to communicate with both the professor and your peers through this platform. The professor uses the same technology to teach executive MBA students.
To participate in this course you will need to have a working webcam, built in or attached, and have downloaded the Zoom Cloud Meeting app onto your laptop.
If you have any questions about this requirement, call Duke Executive Education team at +1.919.660.8011 or Toll Free +1.800.372.3932, or email us at execed-info@duke.edu.
Understand the economics behind different business strategies
Course Topics
Innovation
- The cost of R&D
- The stages of drug development
- Tradeoffs between orphan and blockbuster development
- Government incentive to devise new drugs
Reimbursement
- Netflix model
- Outcomes-based pricing
- Cost effectiveness analysis
- Rebates, formularies & pharmacy benefit managers
- 340B program
- Medicaid Best Price
Competition
- Lifecycle management strategies
- Biosimilars
- Generics
Program Objectives
At the conclusion of the program, you will understand:
- How researchers estimate the average industry cost of research and development for an approved drug.
- How to estimate the value of a drug in development in order to make better decisions about which drugs to advance and which drugs to stop.
- What incentives governments create to reward developers of drugs for rare and neglected diseases.
- How governments regulate drug makers and the steps drug makers must take to avoid penalties, fines, lost revenue, and embarrassment.
- How to estimate the cost effectiveness of a drug in order to secure reimbursement.
- What price regulations have been proposed and which are likely to be implemented.
- What are the new approaches to pricing, including the “Netflix Model” and outcomes-based pricing, and under what conditions drug makers and payers should adopt them.
- How to estimate a drug’s peak market share in order to forecast sales.
- What role intermediaries such as pharmacy benefit managers play in drug access and reimbursement.
- What ten strategies drug makers use to extend sales of a drug approaching patent expiration.
- How generic drug makers compete with brand name drug makers.
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Client Success Stories
Drug Development, Reimbursement, and Regulation
A biotech CEO used skills gained at Duke Executive Education to leverage industry insights and best practices to more effectively move new technologies from the research lab to patient bedside.
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Executive Education Certificate Credit
The Drug Development, Reimbursement, and Regulation (virtual) program, because of its short duration, accounts for a one-half credit (0.5) toward earning the Certificate of Leadership and Management. In order to earn this half-credit, you must:
Participate via webcam in a minimum of two of the three group discussion sessions
Complete the online portion of the curriculum each week
Score a passing grade on the final course assessment
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Sample Schedule
Week 1 Session
11:30 - 1:00 p.m. EST
Drug Discovery and Innovation
- Research and development
- Make or buy
- Incentives for innovation
- Priority Review Voucher
Week 2 Session
11:30 - 1:00 p.m. EST
Drug Development and Reimbursement
- Flow of funds
- Medicare drug reimbursement
- Medicaid drug reimbursement
- Patient cost sharing
- Global drug reimbursement
Week 3 Session
11:30 - 1:00 p.m. EST
Biotech / Pharma Industry Competition
- Forecasting market share
- Drug prices
- Lifecycle management
- Generic drugs and biosimilars
Each week participants will spend an average of 2 hours supplementing the class-time learning by watching professionally produced videos of Professor Ridley and reading relevant articles on the health care industry.
Faculty
David Ridley
David Ridley is the Dr. and Mrs. Frank A. Riddick Professor of the Practice of Business. He is also the Faculty Director of Duke's Health Sector Management program. In his research, David examines innovation and pricing, especially in health care. He was the lead author of the paper proposing the priority review voucher program to encourage development of drugs for neglected diseases. The voucher program became law in the U.S. in 2007. Voucher sales total more than a billion dollars and the program has encouraged development of many drugs for neglected and rare diseases. David has published in economics journals, medical journals, and scientific journals. David teaches in the daytime MBA, executive MBA, and health analytics programs. He is the principal investigator on a grant from the Gates Foundation for 2018 to 2020 to examine incentives for drug development. He received a PhD in economics from Duke University in 2001.
Frequently Asked Questions
For additional information about our Executive Education programming, please visit our FAQ page.