Future of Healthcare

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AMA Marketing Definition

I was curious how the AMA positions marketing. "Marketing is the activity, set of institutions, and processes for creating, communicating, delivering and exchanging offerings that have value for customers, clients, partners and society at large." American Marketing Association

We've come a long way baby!  The legitimacy of the field is advancing and AMA now offers a designation for Professional Certified Marketers.  For more information go to the link on the right for the AMA to go to the brochure download page.  I will be curious whether readers feel this certification will help the profession.  Let me know.

Factoring in Health Care Reform

The surprise ending.  With the recent economic downturn, my position at an 'emerging stage' medical device company was eliminated.  After a seven-year investment, I joined the ranks medical industry personnel who found themselves on "unplanned sabbaticals" or hanging out the "consultant shingle".  [Note to self:  Next company don't accept the foretelling employee #13!]

No pity.  I knew working in the "start up" world was risky business.  My colleagues and I accomplished a great deal in seven years.  We established a solid brand, launched a novel technology for cancer-fighting doctors and enabled thousands of patients to have access to innovative new technology  to improve cancer treatment - all within 18 months of product launch.  But it was impossible to predict the rapidly increasing regulatory burdens imposed by FDA and CMS.  These variables paced the market launch timeline and adoption curve.

Brace yourself.  I'm having flashbacks to 1993-1994 when Hillary Clinton (then First Lady) outlined a platform for health care reform, which had a chilling effect on the medical industry.  Capital equipment budgets were frozen and scrutiny on operating budgets increased; medical device companies suffered excruciating pain with sub-par sales revenues between 1993 and 1995.  Many of my colleagues were the victims of RIFs in the aftermath of the reformation attempt. Fast forward to 2009 and get ready for the next attempt at reforming health care. The combination of a weak economy and the fear, uncertainty and doubt (FUD) factor could send the industry into a deep freeze.

Lucky one. Analysis of the market trends led me to a strategic career change moving to the provider side of the health care business.  I count my lucky stars, being one person who actually found employment in December.  One cornerstone of health care reform is focused on "pay-for-performance or P-4-P".  Medicare has primed hospitals and clinicians to collect data to measure improvements in efficiency, cost and clinical outcomes over the past few years. The timing is perfect to make this move.  It will place me squarely in the cross-hairs of the next big evolution in health care delivery.  How exciting!