Economic Characteristics of the Healthcare

Economic Characteristics of the Healthcare Industry

In this Assessment, you will use information from the case scenario below, along with the supporting documents provided, to demonstrate your ability to apply economic concepts to make recommendations for organizational decisions.
Case Scenario: Launching a Cancer Drug: Comanapracil
You are a pharmaceutical executive. You believe that your firm, Ropache, may have developed a promising new drug, Comanapracil, which seems to arrest the progress of breast cancer for 2 years with no significant side effects. Clinical trials suggest that the drug is 100% effective for 2 years. After 2 years, tumor growth resumes at the same rate. Therefore, Comanapracil can only be used for a 2-year course, after which it loses its effectiveness.
Professional Skills: Written CommunicationTechnology, and Critical Thinking and Problem Solving are assessed in this Competency
Your response to this Assessment should:

  • Use the Assessment documents and video as required.
  • Reflect the criteria provided in the Rubric.
  • Adhere to the required assignment length.
  • Use the APA course template.
  • Download the Writing Checklist to review prior to submitting your Assessment.

This Assessment requires submission of two (2) files. Save your files as follows:

  • Save Part I as FM005_PartI_firstinitial_lastname (for example, FM005_PartI_J_Smith).
  • Save Part II as FM005_PartII_firstinitial_lastname (for example, FM005_PartII_J_Smith).

When you are ready to upload your completed Assessment, use the Assessment tab on the top navigation menu.
Instructions
Before submitting your Assessment, carefully review the rubric. This is the same rubric the assessor will use to evaluate your submission and it provides detailed criteria describing how to achieve or master the Competency. Many students find that understanding the requirements of the Assessment and the rubric criteria help them direct their focus and use their time most productively.
Rubric
Access the following to complete this Assessment:

This assessment has two-parts.  Click each of the items below to complete this assessment.

Part I: Determine Pricing and Marketing Strategy for a New Drug

You have been tasked with developing a pricing and marketing strategy for Comanapracil. As you undertake this task, refer to the following resources mentioned above:

  • U.S. Breast Cancer Statistics
  • Annual Costs of Cancer Care—Cancer Prevalence and Cost of Care Projections
  • Chemo Costs in U.S. Driven Higher by Shift to Hospital Outpatient Facilities
  • Breast Cancer Drug—Comparison Chart

Create a 10- to 15-slide presentation, for the board of directors, to convince them that Comanapracil is a good investment. The presentation should address the following economic issues related to the marketing of Comanapracil:

  • Develop and present estimates for the demand for Comanapracil and the price of the drug you think the market will bear. Be sure to include the number of customers for this drug.
  • Describe where and to whom you will focus your marketing efforts. For each, detail why they are important.
  • Explain how you will ensure that insurance companies pay for your drug.
  • Explain the elasticity of demand for a drug like Comanapracil. What factors could potentially change the elasticity of demand?
  • Assume you are able to obtain a patent, and are ready to go to market immediately. Explain the length of time for which your drug will receive patent protection, so that you are protected from competition prior to generics entering the market. Also, explain why patent protection exists in healthcare.

Part II: Compare International Healthcare Systems to Develop an International Market Entry Strategy

It is your job to develop a market analysis for four different healthcare markets with unique insurance systems. These four analyses will be contained within one 10- to 11-slide presentation to the board of directors. Your analysis will serve as a basis for deciding which country to market Comanapracil:

  • Germany
  • United States
  • Ghana
  • Brazil

Create your presentation as follows:

  • The first slide will be an analysis of the relationship between spending on healthcare per capita and life expectancy in each country. Begin by referring to the World Bank charts “GDP Per Capita,” “Health Expenditures Per Capita,” and “Life Expectancy at Birth, Total (Years).” Using these, create a chart comparing the spending on healthcare per capita with the life expectancy in each country. Underneath the chart, on the same slide, address the question: Is there a relationship between life expectancy and healthcare spending?
  • Next, based on what you have learned about the healthcare systems of Germany, the United States, Ghana, and Brazil, create four slides (one for each country) that summarize how each healthcare system is structured.
  • Next, create another four slides (again one for each country). Each of these slides should summarize your findings from conducting a SWOT analysis for each country (that is, identify the economic strengths, weaknesses, opportunities and threats) associated with marketing Comanapracil in each country.
  • Create one to two slides recommending which two countries are most attractive for marketing Comanapracil and why.
  • Your board has shown a particular interest in the German market. In order to market your drug in Germany successfully, you must be approved by the German Institute for Quality and Efficiency in Health Care (IQWIG). Create two to three slides, addressed to the IQWIG, which argue for the importance of why your drug should be covered. Address the following issues:
    • How much of a gain in health outcomes will this drug provide?
    • Do other drugs provide similar effectiveness in treating this disease?
    • How many people will benefit from this drug? Explain why some people will benefit from the drug more than others.

Competency: FM005: Economic Characteristics of the Healthcare Industry
Subject Matter Expert: Wendy.berry@mail.waldenu.edu
 
Student ID#: CBL006031
Student Email: karleneharvey39@gmail.com
 
Dear Karlene Harvey,
As you know, Walden University considers academic integrity to be essential for each student’s intellectual development and that each student agrees to respect and acknowledge the research and ideas of others and to abide by the rules relating to academic integrity.  In evaluating your FM005 First Assessment submission the Turnitin Similarity has identified a potential issue that relates to academic integrity.  More specifically, the work you submitted to your assessment is more reflective of work from another student (Paper ID: 1119266047).
 
Specifically, your Turnitin (TII) Similarity has identified the following concerns that violate the Walden University Student Handbook, Section 3. Student Expectations and Responsibilities, pages 34 through 40.
1. Your words are too similar to a previous author and you fail to give credit to the author.
a. Student Handbook: Plagiarism (pg. 36). Plagiarism is defined as use of intellectual material produced by another person without acknowledging its source.
2. It appears that you are copying or attempting to copy from others for this assessment
a. Student Handbook: Cheating (pg. 36). Cheating is defined as fraud, deceit, or dishonesty in an academic assignment. It includes using or attempting to use materials, or assisting others in using materials, that are prohibited or inappropriate in the context of the academic assignment in question
 
 

 
From your TII Similarity report there was a 55% match (student papers from 25-Apr-2019)
Class: FM005: Economic Characteristics of the Healthcare Industry
Assignment: FM005 Assessment Submission (Attempt 1)
Paper ID: 1119266047
 
 
 
As an example, see your passages colored red in the screen shot below, which are very similar to another student’s paper, Paper ID: 1119266047.
 

It is very important that you provide a detailed response to the information provided in this letter and a comprehensive explanation of the matters I have set forth. I refer you to the policies on academic integrity contained in the Student Conduct and Responsibilities section of the Walden University catalog found online at: catalog.waldenu.edu (Select Handbook from the drop down, then Section 3: Student Expectations and Responsibilities, then Student Conduct and Responsibilities, then Code of Conduct)
 
Please provide your response to me by email within five (5) business days of the date of this letter, therefore no later than November 18, 2020.  Your response should include any information that explains the procedure you used to complete FM005: Economic Characteristics of the Healthcare Industry, Assessment one (1) as well as your response to the information above. Please understand that this is not an accusation; rather, it is a request for information that provides an explanation. Respond to me directly, to the email address provided below.
 
Based on the evidence I have presented in this letter, and the response you provide, I will work with our academic leadership to determine how the matter will best be resolved.
Please feel free to contact me if you have any questions.
Sincerely,
Wendy M. Berry, PhD, Faculty
Wendy.berry@mail.waldenu.edu
 
Cc: Sarah.pavelka2@mail.waldenu.edu, MHA Program Director (Tempo)

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