The Intersection of Medicine and Business: Applying Business Principles and Strategy to Better Understand Surgical Costs, Innovation, and Payment Reforms

Abstract

Purpose: As an MD/MBA student, I had the opportunity to explore multiple areas of research at the intersection of medicine and business. Increasingly, patient outcomes and quality care are shaped by factors outside of the purview of what physicians learn in medical school and residency. Outcomes and care quality are driven by systems and business considerations, from cost measurement and payment reform to process improvement, technological innovation, and business strategy. My Scholarly Report is a compilation of three research projects that I pursued in collaborations between Harvard Medical School and Harvard Business School and that have since been submitted for publication. Through this work, I hope to better demonstrate how business principles intersect with clinical ideas to shape the future of surgery. Projects included in this Scholarly Report:

Journal Article: Prospective Cost Analysis and Implications of Wound Complications in Lower Extremity Vascular Surgery Procedures Purpose: To conduct cost-effectiveness analysis of a new surgical wound dressing to complement a completed clinical trial. Book Chapter: Percutaneous Interventions for Cardiac Valvular Disease: A Review of Contemporary Practices and Future Directions Purpose: To summarize the current state of transcatheter therapies in cardiac surgery, both from a clinical and from a business perspective. Journal Article: Hospital-based Accountable Care Organization Success May Be Limited by Ability to Track Performance Indicators Purpose: To better understand why Accountable Care Organizations, a cornerstone of the Affordable Care Act, have failed to significantly curb quality and cost shortfalls among U.S. hospitals