The Graduate School of Business Administration (GBA) is launching the Global Healthcare Innovation Management Center, which will specialize in researching the development and application of new healthcare management models.
“New and creative thinking on healthcare management are necessary to engage rapidly evolving drug-development models, disruptive new technologies as well as concerns about healthcare affordability and access,” said Falguni Sen, Ph.D., professor of management systems and the center’s director. “There is a need to conduct more research and develop evaluation models in these areas.”
The goals of the center are to:
• develop case studies on global healthcare innovations;
• conduct research into how different management approaches affect the success of these innovations;
• design educational programs for managers in charge of healthcare innovations; and
• provide workshops and seminars for global policy makers, thought leaders and academics.
“GBA has been very pleased to assist in the creation of Professor Sen’s center,” said Robert Himmelberg, Ph.D., interim dean of GBA and co-dean of the business faculty. “Professor Sen has broad experience in healthcare innovation management. I am confident the center will rapidly become a leader in its field.
“The center will enable GBA to make a vital contribution to the development and adoption of managerial styles that foster efficient and socially responsible healthcare innovations,” Himmelberg said. “It is our hope that such innovations benefit relevant industries and enhance the public good on a global scale.”
The cost of introducing a new drug is as much as $1.2 billion, but globalization of the discovery and development process has the capability of reducing this cost by as much as 70 percent.
However, global development of innovations is very complex. The success of firms engaging in this strategy has not been established, said Sen, who has extensive experience analyzing drug discovery and development models, biotech innovation and healthcare delivery systems.
“Management strategy to drive healthcare innovation is not a well-developed discipline,” said Sen.
The center will examine topics such as pharmaceutical outsourcing, the creation of biotech clusters, emerging healthcare delivery systems and advances in health information technologies.
“Our initial focus will be on drug discovery and development beyond the United States, in countries such as India, China, Ireland, South Africa and Switzerland.”
The center is funded by Fordham University’s business program and contributions from pharmaceutical and biotech companies, clinical research organizations, healthcare provider organizations and others.
“The Association of Clinical Research Organizations (ACRO) is pleased to be among the founding members of this important research center,” said Doug Peddicord, executive director of ACRO. “CROs are leading the way in innovative drug development models. Research around this topic is critically important to the future of the biopharmaceutical industry.”
Organizations interested in joining the center may contact Falguni Sen at (212) 636-6160.