On Thursday evening, a relatively small but passionate and growing community gathered in anticipation of a captivating and enlightening evening. As over 130 students, alumni, and industry professionals discussed the innovation and change in the healthcare industry, the waves of healthcare reform moved from the Capitol into the walls of KMC.
The 2010 Spring Symposium titled "The New Era of Healthcare: Innovating Through Change" was led by SPHA co-presidents Sherry Ouyang and Nancy Li and executive vice president Vanessa Heba-Connolly. Speakers included professionals from investment banking, consulting, marketing, biotechnology, and specialty pharmaceuticals. The event was possible due to the generous support of Pfizer, Johnson & Johnson, Stryker, and Navigant Consulting, including co-sponsorship from EEX.
After a few minutes spent on registrations and networking with early arrivers, Professor. Sheila Wellington formally kicked off the event with a welcome address that was both motivating and reassuring. Through personal anecdote, she advised us to aim high at the workplace, and to actively pursue a rewarding mentor-mentee relationship. Professor Wellington was the first woman in United States to run a major public mental hospital serving as director for Greater Bridgeport Community Mental Health Center.
The Executive Fireside Chat was moderated by Professor Cliff Bleustein who teaches Healthcare Economics at Stern. In a conversational setting, he led an insightful discussion with the keynotes - Dr. Mitchell Eisenberg, CEO of Sheridan Healthcare, and Dr. Michael C. Samson, CEO of CLS Pharmaceuticals and Associate Professor of Ophthalmology at the New York Eye & Ear Infirmary. For a portion of the student audience that is accustomed to associating healthcare primarily with Pharmaceuticals, the keynotes provided a welcome perspective. The session conveyed an entrepreneurial spirit in these times of change, and exemplified how entrepreneurs could navigate through an ambiguous yet exciting period. A key take away was that businesses need to participate in the policy conversations; focus on technological innovations to reduce cost; and be prepared for an ambiguous future.
The fireside chat was followed by two concurrent panels. Prof. Rod Wong, moderated the panel discussion on "Making Sound Financial Investments in the Economic Crisis." With leaders from Morgan Stanley, Citi, MedAssets, and Johnson & Johnson, there were a variety of perspectives that provided for a rich discussion. Professor Wong, along with participant questions, focused on a wide range of issues, such as how big pharmaceutical companies are adapting in the wake of patent cliff, and how companies can invest in the future of medicine technology. The panelists also addressed the question on the audience's mind - the impact on careers in financial services in healthcare, based on the upcoming changes in the financial and healthcare environments.
The other panel, "Creation of Sustainable Corporate Strategies amid Healthcare Reform" was surprisingly popular for a panel concurrent with a discussion on financial investments. Professor. Robert Salomon, introduced the topic of healthcare reform in marvelous simplicity, to a large and engaged audience. A diverse mix of panelists included senior leaders from Pfizer, Emblem Health, Eisai, Deloitte consulting, and Wagner School of Public Policy. Professor Paula Wilson from Wagner School of Public Policy, cautioned on the strains that any reform would place on providers of last resort. Jacques Mulder of Deloitte, in typical consulting form, broke down the problem of healthcare into three key topics- Access, Utilization and End of Life care. After just a couple of questions, Prof. Salomon opened up the panel discussion to Q&A from the audience who asked questions about everything from off-shoring of R&D in large pharma, to drug pricings, to comparative medicine. Attesting to the quality of the session, many in the audience, carried on discussions with the panelists well beyond the allocated time.
The symposium concluded with an informal networking event that allowed students to mingle with associates from some of the top pharmaceutical and healthcare consulting companies. Both Johnson and Johnson and Pfizer brought multiple corporate representatives that spoke to students about opportunities at their respective companies and trends in the healthcare and pharmaceutical industries. The consulting sector was represented by Navigant Consulting. A fresh face on campus was Stryker, a medical technology company that specializes in the orthopedic market and brought a sample spine that featured their cutting edge steel implants that could make you into the next Terminator. The evening concluded with three happy raffle ticket winners, well on their way to physical fitness courtesy David Barton Gym.
The SPHA Conference achieved its purpose of providing a valuable educational experience and networking opportunity. SPHA now intends to create a new tradition of Annual Healthcare Spring Symposium.
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