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Darden Health Care Club

Darden Health Care Club. Interview Prep Industry Overview Wharton Conference Planning January 27 th , 2003. Interview Tips. Research the Company! Talk with SY’s and Darden Alums who work for the company Scour the company’s website

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Darden Health Care Club

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  1. Darden Health Care Club Interview Prep Industry Overview Wharton Conference Planning January 27th, 2003

  2. Interview Tips • Research the Company! • Talk with SY’s and Darden Alums who work for the company • Scour the company’s website • Read the WSJ the morning of your interview for any late-breaking news • Know thyself: S-A-R • Situation: Succinct set-up • Action: Specific actions on your part • Results: Quantifiable outcomes and what you learned • Avoid dark alleys • Each year is different—judge for yourself • It’s acceptable to ask for an extension • Ask for advice on negotiating an offer (salary, start/end date, # of weeks, relocation, housing stipend, project, vacation)

  3. Industry Overview Resources: • Wall Street Journal • http://portal.darden.virginia.edu/mydarden/Portal/My%20Community/Student%20Organizations/ • http://www.phrma.org/ • http://www.dtcnational.com/agenda.asp • http://www.biospace.com/index.cfm • http://www.corante.com/biotech/ • http://www.pharmaportal.com/pharmaportal/

  4. PhRMA Guidelines • July 2002 U.S. pharmaceutical companies enacted guidelines restricting interactions with healthcare professionals • Gift/support criteria: • Patient benefit • Clinical use • Educational • http://www.phrma.org/mediaroom/press/releases/19.04.2002.390.cfm

  5. Drug Development Process Program Management Product Management Preclinical Phase I Phase II Phase III Launch

  6. Business Development Program Management Product Management Preclinical Phase I Phase II Phase III Launch Entity is unproven in humans, acquired for development. Demonstrated potential for efficacy, acquired for marketing.

  7. Market Research Estimated Patients (epidemiology) Diagnosis Rate Market Share Treatment Regimen Compliance Sales Forecast

  8. Health Care Administration Statistics • Estimated healthcare premium increase: 15% • Percentage of large employers expecting to increase cost sharing: 78% • Percentage of workers whose companies reduced benefits: 17% • Number of uninsured Americans: 41.2 million

  9. What is Managed Care? • Managed Care vs. Indemnity Insurance • Staff Model HMO: employs salaried physicians and owns facilities. • Point of Service (POS): patient stays in the HMO network of physicians and follows a referral path. • Preferred Provider Organization (PPO): similar to POS, except patient does not need a PCP referral to see a specialist within the network.

  10. Managed Care: Financial Incentives • Fee for service (FFS): cost plus reimbursement – physician gets a fee for every day he or she visits a patient in the hospital. • Full Capitation: physician receives fixed amount per member. Full risk to Insurer Full risk to Provider Fee for service (FFS) Full Capitation

  11. Managing a Blockbuster • In what other industry do you know that over-night you will lose more than a billion dollars in revenue because of patent expiration? • How do you manage your portfolio to mitigate the impact? • AstraZeneca Case Study • Purple Pill Conversion Strategy

  12. Other Issues in the News • Off-Label Marketing and Liability • Wyeth Pharmaceuticals and Hormone Replacement Therapy

  13. Wharton Conference • February 20-21st $25 registration • Philadelphia • http://www.whcbc.org/ • Reimbursement amount for travel and hotel contingent upon # of attendees

  14. Wharton Conference Agenda • Thursday February 20 - The Wharton School • 5:00-6:00pm Opening: Bob Croce, Chairman, Cordis • Friday February 21 - Park Hyatt • 8:00-8:50am Registration and Networking Breakfast • 9:00-10:00am Morning Keynote: Bradley T. Sheares, Ph.D., President, U.S. Human Health, Merck • 10:15-11:30am • •Biotech Panel: Is Acquisition The Only Way That Biotechs Can Grow? • •Payor Panel: Does Prevention Pay? • 11:30-12:45pm Lunch

  15. Wharton Conference Agenda Continued • 1:00-2:15pm • Finance Panel: Wall Street Dynamics: Are The Best Days Behind Them for Health Care Companies? • Medical Device Panel: The Convergence of Medical Devices and Chronic Disease Management • 2:30-3:45pm • Pharmaceutical Panel: Is The Blockbuster Model of Drug Development Sustainable? • Entrepreneurial Panel: Overcoming Current Challenges in Health Care Start-Ups: A Cross-Sector Perspective • 4:00-5:00pm • Closing Keynote: Richard Scrushy, Chairman, HealthSouth • 5:00-6:00pm Cocktail Reception

  16. Wharton Conference • Register yourself online and print receipt • Contact Jenny Zenner if attending to coordinate travel and hotels • zennerj03@darden.virginia.edu • 434-825-2214 mobile

  17. Darden Health Care Club • Create a life by design versus a life by default. • You made a great choice by coming to Darden. You are developing the skills, knowledge, and relationships that will overcome a temporarily weak economy. • Here’s to your health!

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