This is the Healthcare Marketplace Specialization,

Healthcare Marketplace Overview.

I'm Steve Parente, and this is Module 5.3.1, Key Questions for

an Innovation Valuation.

So one of the big skills of this entire course is really to come up

with some approach to do evaluation of a new technology or policy innovation.

And what we're going to do now is walk through in, really the Module 5.3 series,

the different components of what evaluation would comprise.

So, for our example, first we're first of all going to go through the executive

summary of what evaluation needs to have.

Executive summary should basically make sure that any report or

structure really not have any mystery to it.

Meaning that right up front you're going to be giving a verdict on whether

the technology is going to work or not and be useful for investors.

And so the way that one should approach evaluation is to.

It's not so much just a financial exercise.

It's really getting an understanding of, do all of the parts of the medical

technology universe, that the provider world,

the technology itself, the financial world, all of them align fairly well?

So here are the key things that one have to take a look at.

Are the patient and physician benefits known and what are they?

Is the technology feasible and defensible, or as a friend of mine likes to say,

does it defy [LAUGH] the law of physics of not?

Is there a favorable way to get reimbursed by insurance companies?

Do market estimates appear favorable,

in terms of whether this will be a good technology given the competition?

Is further clinical support needed?

This goes back to the comparative effectiveness and cost effectiveness,

some things we talked about earlier.

Is there a possibility for growth and high margins?

Is payback favorable?

Could there be any sort of disruptive technology in the market?

Is it a billion dollar opportunity?

And really the final one, the biggest one of them all,

do you invest in this technology?

Do you recommend investment?

So we're going to talk about a technology that is designed to deal with a major

cardiac issues which is mitral valve regurgitation.

Here's an image of the heart.

Inside we have a mitral valve.

What normally happens in terms of blood flow is that this valve will go up and

take the blood in and then go down and seal it.

But if you have a prolapse, that is, a torn mitral valve, blood will escape and

flow back and it will actually really limit

the effectiveness of that particular heart valve.

And so

one way to deal with that technology is to have an annuloplasty ring.

This is the current procedure.

Basically if you have a torn mitral valve here, you would essentially then go in and

really do kind of an open heart procedure to find this and then sew it all up.

So that now it's no longer torn and everything works really well.

However it's a very complicated procedure.

The risk of infection is huge.

And if there's some way to be doing this in a minimally invasive way,

that would be quite beneficial.

So in the next module,

we'll go talk about what the technology is that might approach this in the way.

This concludes Healthcare Market Specialization focused on

Medical Evaluation.

5.3.1 Key Questions for an Innovation Valuation

Healthcare Marketplace Capstone

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