Innovating in Health Care from edX

Health care spending, quality, and access continue to plague America and global nations alike. With U.S. health care costs trending toward $4 trillion in 2020, the need to innovate and create smart, viable business plans is more important than ever before.

Innovating in Health Care (IHC) explores how creating successful global business ventures in health care will not only improve access, but also better meet the needs of consumers and societies. The course focuses on a framework of evaluating and crafting business models that attain alignment between an entrepreneurial health care venture and the six factors that critically shape new health care ventures—structure, financing, regulations, consumers, accountability, technology, and public policy. Innovating in Health Care discusses the impact of these factors on business models for three different kinds of innovations: consumer-focused, technology-driven, and integrations which create scale.

Through lectures, insights from global health care innovators, and real-world case examples, learners will explore the challenges and decisions facing real entrepreneurial health firms and how to analyze each situation through the IHC framework. By the end of the course, you will understand how to evaluate opportunities and how to apply elements of successful business models for different kinds of health care innovations.

The course is offered in two formats: an open, online experience and a limited, team-based deep dive experience, where teams (self-assembled or newly created online) can produce actual business plans evaluated by peer teams and the IHC course instructors.

What's inside

Learning objectives

How innovation in health care can improve cost, quality, and access
The six factors that critically shape competitive strategies for innovative health care ventures
What other elements combine to create a feasible business model for an innovative health care venture

How to distinguish the key to successful innovations from those likely to fail
How to apply the ihc framework to evaluate business models across different kinds of innovations
How to craft your own business plan for your next innovation venture

How innovation in health care can improve cost, quality, and access
The six factors that critically shape competitive strategies for innovative health care ventures
What other elements combine to create a feasible business model for an innovative health care venture
How to distinguish the key to successful innovations from those likely to fail
How to apply the ihc framework to evaluate business models across different kinds of innovations
How to craft your own business plan for your next innovation venture

Good to know

Know what's good

, what to watch for

, and possible dealbreakers

Emphasizes the importance of business planning for successful healthcare ventures, fostering innovation and meeting healthcare needs

Taught by renowned professors and healthcare innovators with extensive expertise in the field, providing invaluable insights and perspectives

Explores the interplay of six key factors that critically shape healthcare ventures, offering a comprehensive framework for evaluating and crafting business models

Provides real-world case studies and insights from global healthcare innovators, bridging theory and practice and showcasing successful strategies

Enables learners to evaluate opportunities, analyze business models, and develop their own business plans for healthcare ventures, fostering entrepreneurial skills

Offers both an open online experience and a team-based deep dive experience, catering to diverse learning needs and enabling collaboration

Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Innovating in Health Care with these activities:

Organize your course materials

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Keeping your course materials organized will help you stay on top of the material and find what you need quickly and easily.

Browse courses on Organization

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Create a system for organizing your notes, assignments, and other course materials.
Keep your materials in a central location so you can easily access them.
Review your materials regularly to stay up-to-date on the course content.

Review basic business concepts

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Review of business concepts and their application in healthcare will provide you with a strong foundation for this course.

Browse courses on Business Models

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Review notes or textbooks on key business concepts.
Complete practice problems or quizzes on business principles.

Review Porter's Five Forces

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Porter's Five Forces model is a framework for analyzing the competitive environment of an industry. It will help you understand the factors that shape the competitive dynamics in the healthcare industry.

View Competitive Strategy: Techniques for Analyzing... on Amazon

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Read Chapter 1 of Porter's book: 'Competitive Strategy'.
Summarize the five forces in your own words.
Identify examples of each force in the healthcare industry.

Six other activities

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Join a study group

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Joining a study group can help you stay motivated, share knowledge, and better understand the course material.

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Find a study group or start your own.
Meet regularly to discuss the course material.
Work together on assignments and projects.

Analyze case studies of successful healthcare ventures

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Analyzing case studies of successful healthcare ventures will help you understand how to apply the IHC framework to real-world situations.

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Read case studies of successful healthcare ventures.
Identify the key factors that contributed to their success.
Apply the IHC framework to analyze the case studies.

Attend a workshop on healthcare innovation

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Attending a workshop on healthcare innovation can help you learn from experts in the field and get feedback on your own ideas.

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Find a workshop on healthcare innovation that interests you.
Register for the workshop.
Attend the workshop and participate in the activities.

Mentor other students in the course

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Mentoring other students in the course can help you solidify your own understanding of the material and develop your leadership skills.

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Identify a student who could benefit from your help.
Meet with the student regularly to discuss the course material.
Provide feedback on their assignments and projects.

Find a mentor in the healthcare industry

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Finding a mentor in the healthcare industry can help you learn from someone with experience in the field and get advice on your career.

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Identify someone in the healthcare industry who you admire and respect.
Reach out to them and ask if they would be willing to mentor you.
Meet with your mentor regularly to discuss your career goals and get advice.

Develop a business plan for a healthcare innovation

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Developing a business plan for a healthcare innovation will help you apply the concepts you learn in this course to a real-world project.

Browse courses on Business Plans

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Identify a healthcare problem or opportunity.
Develop a solution to the problem or opportunity.
Create a business model for your solution.
Write a business plan for your venture.

Career center

Learners who complete Innovating in Health Care will develop knowledge and skills that may be useful to these careers:

Health Care Entrepreneur

As a Health Care Entrepreneur, you would oversee the creation of entirely new products, services, or companies that focus on the health care industry. Innovating in Health Care is an appropriate course for aspiring Health Care Entrepreneurs as it explores how creating successful global business ventures in health care can not only improve access, but also better meet the needs of consumers and societies.

See salaries and explore the career path for Health Care Entrepreneur

Health Care Administrator

A skilled Health Care Administrator oversees the day-to-day operations of health care facilities, including hospitals, clinics, and nursing homes. These professionals are responsible for planning, organizing, and directing the delivery of health care services. Given the focus of Innovating in Health Care on how to create successful global business ventures in the field, this course can help build a foundation for work in this role by highlighting the challenges of innovating within the industry. Learners will understand how complex factors such as financing, regulations, and technology impact business strategies.

See salaries and explore the career path for Health Care Administrator

Hospital Chief Executive Officer

A Hospital Chief Executive Officer (CEO) is responsible for the overall management and operation of a hospital. This role requires an understanding of the complex health care landscape and the ability to lead and manage a large team in an ever-changing environment. Innovating in Health Care may be useful for those interested in a career as a Hospital CEO because the course explores the impact of innovation on the health care industry. Learners will gain insight into how to evaluate opportunities and apply elements of successful business models for different kinds of health care innovations.

See salaries and explore the career path for Hospital Chief Executive Officer

Health Care Writer

Health Care Writers create written content about health care topics for a variety of audiences, including patients, consumers, and health care professionals. These professionals typically have a strong understanding of the health care industry and the ability to communicate complex information in a clear and concise manner. Innovating in Health Care may be useful for those interested in a career as a Health Care Writer because the course explores the challenges and opportunities facing the health care industry. Learners will gain insight into how to evaluate opportunities and apply elements of successful business models for different kinds of health care innovations.

See salaries and explore the career path for Health Care Writer

Pharmaceutical Sales Representative

Pharmaceutical Sales Representatives sell pharmaceutical products to doctors, hospitals, and other health care providers. These professionals typically have a strong understanding of the pharmaceutical industry and the ability to build relationships with key decision-makers. Innovating in Health Care may be useful for those interested in a career as a Pharmaceutical Sales Representative because the course explores the challenges and opportunities facing the health care industry. Learners will gain insight into how to evaluate opportunities and apply elements of successful business models for different kinds of health care innovations.

See salaries and explore the career path for Pharmaceutical Sales Representative

Health Care Consultant

Health Care Consultants provide advice and guidance to health care organizations on a variety of issues, including strategy, operations, and financial management. These professionals typically have a strong understanding of the challenges and opportunities facing the health care industry. Innovating in Health Care may be useful for those interested in a career as a Health Care Consultant because the course deepens understanding of how to evaluate and craft business models that attain alignment between an entrepreneurial health care venture and the six factors that critically shape new health care ventures.

See salaries and explore the career path for Health Care Consultant

Health Care Market Researcher

Health Care Market Researchers collect and analyze data on the health care industry, including market trends, consumer behavior, and competitive analysis. These professionals typically have a strong understanding of research methods and the ability to interpret data. Innovating in Health Care may be useful for those interested in a career as a Health Care Market Researcher because the course explores the challenges and opportunities facing the health care industry. Learners will gain insight into how to evaluate opportunities and apply elements of successful business models for different kinds of health care innovations.

See salaries and explore the career path for Health Care Market Researcher

Health Care Product Manager

Health Care Product Managers are responsible for the development and marketing of new health care products and services. These professionals typically have a strong understanding of the health care industry and the ability to manage cross-functional teams. Innovating in Health Care may be useful for those interested in a career as a Health Care Product Manager because the course explores the challenges and opportunities facing the health care industry. Learners will gain insight into how to evaluate opportunities and apply elements of successful business models for different kinds of health care innovations.

See salaries and explore the career path for Health Care Product Manager

Health Care Sales Representative

Health Care Sales Representatives sell health care products and services to hospitals, clinics, and other health care providers. These professionals typically have a strong understanding of the health care industry and the ability to build relationships with key decision-makers. Innovating in Health Care may be useful for those interested in a career as a Health Care Sales Representative because the course explores the challenges and opportunities facing the health care industry. Learners will gain insight into how to evaluate opportunities and apply elements of successful business models for different kinds of health care innovations.

See salaries and explore the career path for Health Care Sales Representative

Medical Device Sales Representative

Medical Device Sales Representatives sell medical devices to hospitals, clinics, and other health care providers. These professionals typically have a strong understanding of the medical device industry and the ability to build relationships with key decision-makers. Innovating in Health Care may be useful for those interested in a career as a Medical Device Sales Representative because the course explores the challenges and opportunities facing the health care industry. Learners will gain insight into how to evaluate opportunities and apply elements of successful business models for different kinds of health care innovations.

See salaries and explore the career path for Medical Device Sales Representative

Health Care Investor

Health Care Investors identify and invest in companies that are developing or marketing new health care products, services, or technologies. These professionals typically have a strong understanding of the health care industry and the ability to evaluate the potential of new health care ventures. Innovating in Health Care may be useful for those interested in a career as a Health Care Investor because the course explores the challenges and opportunities facing the health care industry. Learners will gain insight into how to evaluate opportunities and apply elements of successful business models for different kinds of health care innovations.

See salaries and explore the career path for Health Care Investor

Health Care Policy Analyst

A Health Care Policy Analyst researches, analyzes, and makes recommendations on health care policies. These professionals work in a variety of settings, including government agencies, think tanks, and health care organizations. Innovating in Health Care may be helpful for those interested in a career as a Health Care Policy Analyst because the course explores the impact of public policy on the health care industry. Learners will gain insight into how to evaluate the impact of different policies on the cost, quality, and access to health care.

See salaries and explore the career path for Health Care Policy Analyst

Health Economist

A Health Economist applies economic principles to the health care industry. These professionals typically have a strong understanding of both economics and health care. Innovating in Health Care may be helpful for those interested in a career as a Health Economist because the course explores the challenges and opportunities facing the health care industry. Learners will gain insight into how to evaluate opportunities and apply elements of successful business models for different kinds of health care innovations.

See salaries and explore the career path for Health Economist

Health Policy Analyst

Health Policy Analysts research and analyze health care policies. These professionals typically have a strong understanding of both health care and public policy. Innovating in Health Care may be helpful for those interested in a career as a Health Policy Analyst because the course explores the challenges and opportunities facing the health care industry. Learners will gain insight into how to evaluate opportunities and apply elements of successful business models for different kinds of health care innovations.

See salaries and explore the career path for Health Policy Analyst

Health Services Researcher

Health Services Researchers study the delivery and effectiveness of health care services. These professionals typically have a strong understanding of both health care and research methods. Innovating in Health Care may be helpful for those interested in a career as a Health Services Researcher because the course explores the challenges and opportunities facing the health care industry. Learners will gain insight into how to evaluate opportunities and apply elements of successful business models for different kinds of health care innovations.

See salaries and explore the career path for Health Services Researcher