See related article published at La Vanguardia (21/01/2010)


ESADE Alumni recently kicked off a lecture series on new economic topics with a session focusing on health.

In his introductory remarks, Miguel Trías (MBA 89), member of the Executive Board of ESADE Alumni and Director of Cuatrecasas Barcelona, noted that "the companies that take advantage of the opportunities that appear will emerge from the crisis in a better position". Before giving the floor to the guest speakers, he highlighted the far-reaching effects of health on the economy, saying that it directly affects other sectors, such as the food industry. 

The first speaker was Eduardo Sanchiz, Executive General Manager for Corporate Development and Finance at Almirall. Mr. Sanchiz began by noting that healthcare spending in Spain accounts for approximately 8% of the GDP, which is "slightly less than in other European countries". He then discussed the dynamics of today’s healthcare sector, which he described as "subject to major pressures that are not necessarily a result of the economic situation, but instead are due to the difficulty of balancing healthcare expenses".

Mr. Sanchiz then turned his attention to the pharmaceutical industry: "We are part of the solution to increasing healthcare costs, not the problem. Although we do need to address the challenge of rising R&D costs, we remain a high-added-value industry". Mr. Sanchiz asserted that, due to this added value, "the pharmaceutical industry can be a driver of the new economy". Nevertheless, he acknowledged that "models of international collaboration will be necessary in order to defray the high cost of research". He supported his view with evidence from abroad: most of the pharmaceutical research done today is carried out in the United States. 

The next speaker was Josep Santacreu (DSIS 86, PMD 89 and GDCS 01), CEO of DKV. Mr. Santacreu shared his vision of medical insurance by posing three key questions: Does the healthcare sector generate wealth? Can it help to improve the country’s overall competitiveness? And how can it become a wealth-generating sector? In answer to the first question, Mr. Santacreu noted that the healthcare sector "generates less wealth than other sectors", but added that it creates more jobs and boosts welfare, which ensures "the competitiveness of our economy", for example by reducing employee absenteeism rates. 

Turning his attention to the second question – of whether the healthcare sector can improve the country’s overall competitiveness – Mr. Santacreu described the "opportunity" presented by the growing demand among the Spanish population. "We cannot continue with the current dynamics", he said, "in which the sector is seen by the government from a purely public standpoint". As an alternative, he proposed public-private partnerships, calling them "an opportunity that we can’t afford to miss". In answer to the third question, regarding the sector’s chances of becoming a generator of wealth, he said: "We have the historic opportunity to enter new markets".

The last speaker was Gabriel Masfurroll (DH 78), Chairman and CEO of USP, who offered the perspective of hospital management. Drawing on his 32 years of experience in various areas of the health-care sector, Mr. Masfurroll observed: "We are confusing our terms when we talk about health and healthcare: health goes beyond the healthcare system to include other aspects such as education, recreation and nutrition". He also highlighted the fact that the health sector is "a major employer" despite being "a stagnant and highly interventionist system".

Mr. Masfurroll also discussed the collapse of the current healthcare system, noting that "something very important is missing – the professionals – and this is very serious". He added: "There needs to be a radical change in the system. In a situation like the current emergency, the supply needs to be there, regardless of who owns it". He called on the audience members and the government to focus on two specific areas: "Young people, because they need training and education, and the elderly, because they are our roots and our memory".

Some concluding remarks were offered by Manel Peiró (DSIS 85, ADE 92 and PhD 07), Academic Vice-Dean of ESADE and academic sponsor of the ESADE Alumni Health and Pharma Club. Afterwards, the speakers took questions from the audience about reforms to improve the health sector.

For further information:
esadealumni@esade.edu