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The Duke


Health Sector Management

By 2015, health care will encompass a full 20 percent of GDP in
the United States. Understanding what’s behind this spectacular
growth and how to best harness its opportunities will be one
of the great business challenges of the 21st century. The Duke
MBA program believes the most successful health care executives
will be those who see health care as not just one niche of the
economy, but rather as the intersection of many parts of the
economy. That’s why our Health Sector Management (HSM)
concentration draws on interdisciplinary resources on and off
the Duke campus. Because true health care management is
about more than producing heart stents or marketing statins. It’s
about recognizing the vital signs of this most dynamic sector of
the economy and keeping them strong.
Learn how to read the vital signs of the health care business.
At Duke University’s Fuqua School of HSM students learn through an
Business, an MBA education ranges interdisciplinary curriculum that
far outside the classroom. Nowhere brings together many different leaders
is this truer than in our Health from the health sector and other
Sector Management (HSM) program. fields who share the same task: the
This innovative introduction to the search for workable solutions to the
business of health care takes full many critical challenges that face
advantage of our proximity to and the health care industry. This cross-
affiliation with many industry leaders fertilization between departmental
on and near the Duke campus. Quite and school lines adds a freshness
simply, for someone who wants to to the instruction that often leads to
fully understand the challenges and enthusiastic collaboration and novel
the opportunities of the health care insights.
business, there’s no better place to  
be than Duke. The range of resources available to
  the HSM students and faculty at
Our Health Sector Management Duke is impressive. The university is
program builds upon the strong home to the nation’s No. 6 medical
foundation of The Duke MBA to school as well as one of its Top Ten
provide you with the cutting-edge medical centers. Because Duke
knowledge you’ll need to move recognizes that true health care
ahead in health care management. leaders in the future will require
You’ll receive a solid grounding in an underpinning in more than the
the fundamentals of the health care medical field, the HSM program also
sector as well as the opportunity draws upon the resources of Duke’s
to pursue more specialized training schools of law, public policy, the
through a range of elective courses environment, and engineering. Of
that cover the many facets of the course, we also tap the extensive
health care industry. expertise found within our home,
  The Fuqua School of Business.

To offer current and future health care leaders pioneering education in the
business of health care. Duke’s Health Sector Management graduates need
the outstanding skill set provided by the Duke MBA combined with an intense
Mission Statement
examination and understanding of the unique aspects of the health sector.
Tomorrow’s health care leaders need to understand both the current structures
of the health care system and the dynamic nature of the industry.

The intellectual resources we leverage are not all on campus. Nearby Research Triangle
Park, ranked as the nation’s No. 3 region for biotechnology development by Forbes
magazine, houses more than three dozen leading health care companies, including
AlphaVax Inc., BD Technologies, Biogen IDEC, Diosynth Biotechnology, Eisai Inc.,
GlaxoSmithKline, Humacyte, Quintiles, and Syngenta Biotechnology Inc. Our nearness
to many of the world’s leaders in biotechnology, pharmaceuticals, and health care
immeasurably enriches the HSM program by enabling us to draw on many of the
industry’s great thinkers for teaching, research, recruiting, and internships.
The health care sector is barreling toward the future every day of the year. To get in
front of that growth and help direct it requires a breadth of understanding that only
the most select group of health care management professionals possesses. The Health
Sector Management program at Duke can give you a foundation of knowledge and
insight that will serve you well as you continue to move forward in the health care
management field.

Rob Marshall Class of 2007
As I started looking for business schools, I was searching
for strong medical backgrounds. Duke’s HSM program was
by far the most put-together program out of all the schools
that I found. It wasn’t just a few classes here and there, it
was a structured curriculum and I was struck by the fact
that everybody within HSM seemed to know each other.
From day one it’s been working with a tight group of
people who all have similar interests.

Take a Top Ten MBA program. Locate it within a hub of

medical leadership, and what do you get?
IN A SINGLE PHRASE: THE NATIONAL LEADER After completing these core requirements, you will
IN HEALTH CARE MANAGEMENT EDUCATION. choose three health-related electives from a range
  of diverse courses taught by faculty from across the
The Duke MBA’s Health Sector Management university and health care industry. These courses
program is the largest health care program in the are constantly updated to reflect the most recent
nation that is affiliated with a top-tier MBA program. industry trends and developing student interests.
HSM students obtain world-class management
training by acquiring a solid grounding in the While earning an HSM certificate, you will also
mechanics of the multifaceted health care sector. fulfill all the regular Duke MBA requirements, with
Upon this strong foundation, you can then pursue the HSM courses counting toward your necessary
more specialized health-related interests. elective credits.
The base of an HSM education is our two required After two years, what will you have gained with an
courses -- Health Care in the 21st Century HSM education? You’ll have a broader and deeper
and Economics and Strategy of Health Sector understanding of the health care sector, which you
Management. You also participate in a seminar will be able to combine with your knowledge of
series in which visiting health care industry leaders general business issues and experiences to imagine
discuss how their businesses are evolving to meet and build new structures and business models
the latest challenges. for this dynamic sector of the national and global
Whether you choose to concentrate on the broader
aspect of health care or focus on specific aspects
of health care delivery, research, equipment, or
services, your HSM background will prepare you
to make the most of the business of health care for
decades to come.
We’re the brains of health care management education.
And the heart.
The Health Sector Management program aims to give you the scholarship and the skills you need to not only
excel in health care management, but also realize that health care is about real people and real lives.



Held immediately prior to the general Duke MBA orientation, this

weeklong course provides a detailed overview of the structure and
underpinnings of the health care system. You receive a thorough
examination of health policy, the pharmaceutical and device
industries, IT, globalization, biotechnology, consumerism, payers
and providers, and health care entrepreneurship.

Apply the tools of economics and strategy to challenges faced

by health insurers, providers, medical device manufacturers,
biopharmaceutical companies, and policy makers. Most class
sessions begin with an analysis of recent news and discussion of a
business case. Students and faculty use class discussion to draw
upon the expertise and preparation of all those in the room. Classes
conclude with insight into the application of economics and strategy.

This required component, offered throughout the first year of study,

provides you with the opportunity to demonstrate the health care
applications of the skill sets being taught in the core MBA courses.
The seminar series also brings in external industry experts to highlight,
address, and discuss the most current changes within health care.



Elective courses allow you to pursue a particular

John Chung Class of 2007 area in depth in order to round out your individual
experiences. The Health Sector Management
The Economics and Strategy of certificate requires three additional HSM electives,
Health Sector Management class all of which will count as elective credit toward
provided perspectives on a broad completion of the MBA program. You can then
range of health care topics, including enroll in additional electives in health or non-health
designing health care plans for courses.
companies, hospital administration  
policies, and the blurring lines Specific health-related electives planned for the
between medical device and drug current academic year include:
  Biotechnology: Management of Drug Discovery
I was impressed with the depth Economics and Management of the
we covered in each class. The Pharmaceutical Industry
discussions were enriched by the
composition of the students, which Health Care Marketing
included physicians at the medical Invention to Application:
school along with the HSM students Health Care Research Commercialization
with extensive experience -- either
through their summer internships or Management of Health Systems and Policy
prior jobs -- at all the top health care Medical Device Commercialization
  You can complete the HSM elective requirements
During the discussions of current with the following courses as well. If you take
topics, Professor David Ridley any of these electives, you must complete course
provided the economic frameworks assignments that relate to health care, as well as
while the students provided real time notify HSM administration of your intent to do so.
“inside scoops” on how firms actually
approach these issues. The class Duke New Ventures Clinic
on evidence-based medicine/cost- Global Health
effective analysis continues to have
lasting impact.  Health Care Law and Policy
  Independent Health Care Study
The strategic economic and ethical
health care frameworks helped Marketing Practicum
prepare me for my internship at Mentored Study in Entrepreneurship
Cordis and will continue to shape my
decisions as a marketing manager at Service Operations Management
Abbott Vascular.  I highly recommend Small Business Consulting
this “gem” to all students who will
make critical health care decisions
both on a personal, as well as
professional level.

Carl Erickson Class of 2007
To me, one of the attractions of
coming to Duke was the opportunity
for entrepreneurship that comes
from access to world-class medical
Entrepreneurship. researchers and technology; the
Invention to Application (ITA) course
Technology. was instrumental in helping me
realize that opportunity. 
Throughout the course, I worked
Independent study. with a team of students, drawn
from programs such as Medicine,
Duke sets the standard. Engineering and Business, and
in collaboration with inventors
from across Duke to evaluate the
commercial potential of on-going
research. Building on our evaluation,
The HSM program has developed an we selected a technology to move
independent study option for students forward into commercialization,
interested in health care information developed a business plan, carried
technology. This course pairs students out key business development steps,
with the CIO and associate CIOs of Duke and raised early funding through
University Hospital, thereby providing them business plan competitions and
with an opportunity for real-world and investor outreach. The process
experiential learning which focuses on IT challenged me to bring together,
issues and initiatives within a leading health and apply, concepts from across
care system.  the breadth of the core and HSM
The course has been tremendous
With the increasing globalization of health
in fueling my interest, and
care, each HSM course offering incorporates
ability to succeed, in health care
at least 25 percent internationally-focused
entrepreneurship -- through both
cases and class materials. Additionally, the
the experience itself and the
HSM program is working with Fuqua’s
relationships formed with a diverse
International Center to ensure adequate
group of truly outstanding staff,
health care content within each Global
students and researchers.
Academic Travel Experience (GATE).

It takes leaders to create leaders.

Kevin A. Schulman MD, MBA Director, Health Sector Management,

Professor of Medicine and Business Administration

Under Kevin Schulman’s direction, the HSM program within The Duke
MBA has become the largest health sector management program at a top-
tier business school in the country. With appointments in both the schools
of business and medicine, Schulman has developed a program that thrives
on interdisciplinary synergies across the university and the health system,
as well as within the Research Triangle Park, providing unparalleled access
and networking for students. Schulman is an active researcher, addressing
important clinical and policy issues at the intersection of clinical medicine,
clinical research, and the business of medicine.

Nichole Kerner MS, Associate Director, Health Sector Management

Nichole Kerner oversees all aspects of the HSM program, including
operations and admissions. She develops and supports student
programming and initiatives and helps students with their career
management. Kerner earned her master’s degree in higher education and
educational administration from the University of Rochester.

Jeffrey L. Moe PhD, Senior Director of Business Development, Adjunct

Associate Professor, Health Sector Management
Jeffrey Moe came to Duke from GlaxoSmithKline, where he held positions
in business development, market economics, corporate strategy, the Allen
& Hanburys sales division, and human resources. He earned his PhD in
organizational behavior and development from the University of North
Carolina at Chapel Hill and has completed courses at the Kellogg School’s
Executive Development program.


The program faculty list may be found on the HSM Web site at


David Post Director, Strategic

Alliances, Cigna
Thom Herrmann Chief Business
Development Officer,
Memorial Herrmann
Colleen Chelini Class of 2007
Felecia Williams Vice President of
Medical Affairs/Medical Director, The HSM program actually helped me step directly
Seton Family of Hospitals into my summer internship working on Medicare Part
D for one of the J&J companies. They told me they
Kelvin Baggett Strategic don’t normally take interns because it takes so long
Business Consultant, HCA to get people up to speed. It was unusual for them to
take somebody, and they were really impressed that
Gopal Chopra Medical I was able to step in, understand Medicare Part D,
Device Entrepreneur; Medical and do a project based on it. I could do that because I
Device Commercialization was able to apply a lot of what I learned in boot camp
instructor, Duke University’s and in the Health Care Policy class.
Fuqua School of Business
Todd Creech Vice President of
Finance, Sirion Therapeutics
Robyn Eckermann Director of
Enterprise Program, HCA
Eric Hoefer Product Manager, Looking for an Employer?
Matt Kane CEO, Precision
They’re already looking for you.
BioSciences, Inc.; Winner, 2006
Duke Start-up Challenge
You will have more than an HSM certificate behind you as you graduate
Tom Lehmann Manager, into the health care sector. The HSM program, in coordination with The
Accenture Duke MBA Career Management Center, supports students throughout their
Dan O’Hearn Manager, Global job searches.
Asset Valuation, J&J PGSM
A broad range of health-related companies have recruited at The Fuqua
Brandy Salmon Associate School of Business for both summer internships and permanent career
Director, Office of Licensing and opportunities. Past recruiters include Amgen, Biogen, Boston Scientific,
Ventures, Duke University Chiron, Eli Lilly, HCA Inc., Johnson & Johnson, Medtronic, Merck, Pfizer,
Stryker, Tenet, and the World Bank. Go to
Dan Teleman Director of for a complete listing of health care companies that have recently recruited
Business Development, Pharmos HSM students.

Will Mitchell PhD, Professor of Strategy, J. Rex Fuqua Professor of
International Management

The pharmaceutical strategy course examines strategy and policy issues

concerning product commercialization, competition, and regulation in the
pharmaceutical industry. We concentrate on factors that are critically important
for pharmaceutical firms, including their strong research intensity, extensive
and complex marketing investments, close ties to the health care system, and
the critical role of government regulations and policy. The overall perspective is
international, with an emphasis on current market and policy developments in
the United States, plus complementary coverage in other markets.

The course takes a “molecules to markets” overview of the pharmaceutical

strategy. We begin with an introduction to the pharmaceutical R&D process,
emphasizing late stage development issues. We next examine key aspects of
the pharmaceutical commercialization process, including pricing, reimbursement,
promotion, differences among market segments, and competition between generics
and proprietary products. We continue by considering the management of
inter-firm relationships such as pharmaceutical alliances and acquisitions.
Throughout the course, we will consider the industry’s strategic responses to
recent developments, including the growth of managed care, global competitiveness,
proposed regulatory reform policies, and increasing government cost containment
policies in this country and abroad.

Jeff Moe PhD, Senior Director of Business Development,
Adjunct Associate Professor

The Duke MBA curriculum focuses on marketing, finance,

management, decision sciences, economics, etc. In the HSM
Seminar Series, we apply these general business theories and
principles to the health sector. We learn how the sector is both
unique and universal as it applies general management theory
and practice.
We are fortunate that many health care organizations share
their experiences through highly qualified speakers. We also
have faculty from a variety of disciplines with deep health care
knowledge here at Duke.
HEALTH SECTOR MANAGEMENT I choose speakers who present topical issues which apply,
STUDENT SEMINAR SERIES reveal, and extend the core MBA topics. Working with the
speakers to select cases and background readings, my aim
The HSM seminar series gives
is to incite a classroom dialogue that moves past the surface
students an opportunity to hear
to the fundamentals and examines the often exceptional
from a distinguished group of
circumstances of health care. I have been very pleased by the
leaders among the health sector
quality of the exchange over the past three years. As in any
community. The series is designed
great classroom experience, I am continually learning from the
to expand the breadth and depth
speakers and the students who make it a unique pleasure to
of students’ understanding of
be a part of the HSM program.
health sector management. 
The presentations complement
MBA core course material by
demonstrating applications to the
health sector while also facilitating
interaction between HSM students,
alumni, industry leaders, and
prospective employers.

Student-led. Student-focused. Student-enriching.

In the Health Sector Management program, we

often go outside the books to show you where
the heath care sector is headed. We also go
outside the classroom.
As is true with the larger Duke MBA
environment, the HSM program is very much
shaped by student interests and goals. Our
many student clubs and events provide ample
opportunities for HSM students to make the
most of their time here at Duke University’s
Fuqua School of Business.

Students can pursue a variety of leadership

opportunities within the HSM program and the
student-run Health Care Club (HCC). There
are various leadership opportunities within the
Health Care Club, including positions focused on
careers, communication outreach, sponsorship/
development, treasurer, technology, and
chairing the annual fall health care conference.
Additionally, the American College of Health
Care Executives (ACHE) elects a new student
leadership team each year.

Mary Frances Luce
PhD, Professor of Marketing

State-of-the-art marketing starts with

the customer’s needs, preferences,
and perceptions. This realization is
crucially important in health care,
as health decisions are very often
complex, emotion-laden, and made
within a network of providers, payers,
patients, and policy makers. Market-
ing provides the tools and frameworks
for making sense of this complexity,
allowing for better products, services,
delivery systems, communication,
and pricing. By leveraging marketing
tools to understand and predict deci-
sion behavior, health care firms can
both increase profitability and create
better health outcomes for society.
In my health care marketing course,
my fundamental objective is to allow
students to practice analyzing market-
ing situations and making marketing
decisions in demanding, complex
environments. I take the basic, broad
marketing core material as the
starting point for my course, and I
address how the general frameworks
and tools for marketing management
covered there must be adapted in
order to address marketing strategy
in the health sector. I try to give my
students tools that they can use to
adapt their marketing strategy as
environmental, political, social, and
technological changes ripple through
the health sector.

Jeff Reierson Class of 2008
Co-President, Health Care Club
The Health Care Club is a way for people to get
together and collaborate on contacts. This sharing
of people and past experiences enhances not only
our personal experience in the program, but our
ability to work on projects that benefit the school as
a whole. Working on the Seminar Series has been
great because we’ve had the opportunity to bring
in speakers that can talk to students about current
topics in the health care industry and issues they are
dealing with every day. I don’t think you could find
that in a lot of classrooms.


Each fall the HSM program, in collaboration with the

HCC, hosts a conference focused on the health care
industry. The 5th annual conference is scheduled for
November 2007 and will focus on the “creativity” of
unique products, services, and marketing approaches
in the health business sector.

Additional conference information can be found at:

In the spring of 2003, the HSM program established

the first Duke University student chapter of ACHE. This
organization provides student members and associates
with the relationships, knowledge, leadership, and
marketability to make their way within the continuously
evolving world of health care management. 

More information on ACHE can be found at


Amy Van Sach Class of 2008

In some ways, we have antagonistic rules in health care.
Clinicians are always worried about cutting costs and
what that would do to the quality of care. The managers
are always worried about maintaining the quality of care,
but also making sure the bottom line comes out black
instead of red. That was part of my reasoning to come
back to school. Before coming back, I mostly spoke with
doctors, nurses, and other PT’s. And now I feel much
more comfortable communicating with insurers and
people who make medical devices and pharmaceuticals.
I have a broader perspective and a broader
communications base across the industry.

Blue Devil Weekend gives accepted students the opportunity to

learn more about the HSM program and experience the Duke

MBA culture firsthand. Among the HSM-specific events during

the weekend are afternoon panels in which current HSM

students, administrators, and alumni talk about where the

program has been and where it’s going. There’s also an early

evening reception for all incoming HSM students. It’s a great

way to start your Duke MBA experience.


2008 73 36% 34%

2007 61 23% 41%

2006 61 29% 37%

HSM at a glance
2005 74 32% 36%

2004 61 23% 29%

2003 41 21% 25%

For more information, contact

Health Sector Management Program

Duke University

The Fuqua School of Business

One Towerview Drive, A-06 Academic Center

Durham, NC 27708-0120

tel 919-660-7989

fax 919-660-7843


or visit

To request application materials, contact


Office of Admissions — Daytime

Duke University

The Fuqua School of Business

One Towerview Drive

Durham, NC 27708-0104

tel 919-660-7705

fax 919-681-8026