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LEARN POST MARKET SURVEILLANCE

Post market surveillance is the practice of monitoring the safety and efficacy of products after release for distribution. Premarket activities usually previews expected commercial and safety outcomes of products while Post market surveillance validate those assumptions and thus anchor the economic success of marketed products. Prior to 1962, there were no strong regulations for healthcare manufacturers to report adverse events associated with the use of marketed food or medicinal products including drugs, devices, and biologics.

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DEVELOP STRATEGIC DECISION MAKING SKILLS

Strategic decision making begins with exploring the fundamentals of economic game theories. Game theory, pioneered by Princeton mathematician John Von Neumann, is the science of strategy. It seeks to determine mathematically and logically the actions that people, or organizations may take to secure the best outcomes under many different unique conditions. Several interdependent variables must be examined to reach the best decision outcome by players given their specific interest or desire and the presented conflict. There are scenarios where cooperation is inevitable and effective negotiation becomes a tool to reaching a viable decision. Check back regularly to explore several game theory concepts.

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UNDERSTAND BUSINESS ENVIRONMENT

When VitalBlinks® was created, the idea was to introduce the day to day decision challenges that companies encounter after launching a product in regulated industries. Specifically, a card game for Biopharma Executives engaged in strategic post-market decision making. One of the objective of the game is to introduce and align concepts of Post Market Surveillance and Strategic Business Decision Making. Moreover, During development and prototyping of the game, however, we identified Business Management students as additional candidates who wouldwill benefit significantly from playing the game. This realization of an unmet need was further strengthened by the notion that graduating students may go on to take on leadership roles and other cross functional management functions.

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SCANDALS AND CRISIS

The healthcare industry is the world's largest and fastest-growing industry,ies providing goods and services to treat patients usingwith curative, preventive, rehabilitative, and palliative care. The industry consumes over 10 percent of the gross domestic product (GDP) of most developed nations. Besides the significant contribution to a nation’s economy, the healthcare industry also provides a sense of security to nations. It includes the generation and commercialization of goods and services lending themselves to maintaining and re-establishing health. The healthcare industry is generally divided four main categories described below.

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