Standardizing health care procedures like cataract and open-heart surgeries can increase access to care, reduce overall costs and improve patient outcomes, according to Arun Sharma, professor of marketing at the University of Miami School of Business Administration.

 

"This is the future of health care," said Sharma in a talk this past spring at LIFE2014, a forum that brought together nearly 70 health care executives from South Florida, Latin America and other parts of the world in Coral Gables.

 

By industrializing medical procedures like eye, heart, cancer and joint replacement surgeries, leading health care facilities in India have shown how to drive down costs without jeopardizing the quality of care, said Sharma during the forum, which was organized by the School’s Office of Executive Education and Center for Health Sector Management and Policy in collaboration with Boston Scientific.

 

For example, physicians at Narayana Hospital complete 30 cardiac surgeries a day at a typical cost of $2,000 with patient safety rates comparable to leading U.S. hospitals. "This is very different than the U.S. approach toward personalizing medical care," Sharma added. "But the industrialization of health care procedures could certainly help improve access and quality in emerging markets like Latin America."

 

Another forum speaker, Juan Enriquez, director of Excel Venture Management, focused on Latin America’s agricultural, energy and chemical sectors as sources of innovative genetic therapies.

 

"We could use plants, cows or bacteria as ‘factories’ for new pharmaceuticals that alter genetic codes, and build a powerful new industry in Latin America, said Enriquez."

 

"Health care today is moving away from the traditional model based on patient volume," said Steve Ullmann, director of the Center for Health Sector Management and Policy. "Instead of focusing on treating sick patients, health care is moving into a value-based model with a system of shared risks and shared rewards."

 

However, access to care remains a key concern in South Florida, said Ullmann, who moderated a panel discussion with Penny Shaffer, market president for Florida Blue; David Zambrana, CEO of University of Miami Hospital; and Marisel Losa, president and CEO of the Health Council of South Florida.

 

“Miami-Dade County still has about 600,000 uninsured residents," said Ullmann. "We need to reach this population and deploy systems that can deliver high quality, patient-centered care for everyone. That’s a win-win for patients, providers, insurers and employers."

 

“The incentive for hospitals to take more responsibility for CHF patients’ follow-up care after discharge is critical,” says Taldone, whose experience as a consultant for UM’s Launch Pad entrepreneurship center aided the team’s efforts. “The transition of care from hospital to home presents a tremendous business opportunity, but hospitals don’t have enough resources to deal with every CHF patient. That’s where we come in.”

 

Forums like LIFE2014 are among a number of health sector initiatives and programs offered by the University of Miami School of Business. The School has offered an Executive MBA in Health Sector Management and Policy program for more than 30 years. Classes are held one weekend per month and bring together physicians, nurses, and other experienced health care professionals. The program teaches practical administrative skills as well as broad strategic and theoretical perspectives to professionals who seek to expand their knowledge of management and administration as applied to the health care industry. The next class begins in January 2015.