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Industry Chat: HealthcareAugust 2017Manisha Jain, Senior Associate DirectorAmanda Rivera, Recruiting Relationship ManagerMBA Career Management

Agenda Healthcare Industry Introductory Overview Trends Functions, Roles and Internships The Job Search Recruiting and Summer Outreach Recruiting Strategy and Timeline Hiring Data Offers, Compensation and Sponsorship Healthcare at Wharton Q&A2

MBA Career Management Healthcare TeamMANISHA JAINAMANDA RIVERASENIOR ASSOCIATEDIRECTORRECRUITING RELATIONSHIPMANAGERCareer AdviceCorporate Relationships Self-assessment & decisionmaking Strategize best recruitingapproach for variety of employers Networking Industry InsightCo-manage employerrelationships with Career Advisor Resumes, Cover Letter &Interview Prep Manage recruiting eventsCorporate Relationships Develop employer outreachstrategy with RRMStudent Support Assist students with logistics ofon-campus interview process, jobboard postings, etc.Programming Develop programs for studentsinterested in healthcareCollaborate with professional clubs and research centers, including Healthcare,General Management, and Marketing Club.3

Industry Overview

Industry CarePrivateEquity/VentureCapitalServices5

Health Care SubsectorsBig PharmaBiotechnologyMedicalDevices6

Health Care Subsectors (con’t)ServicesProviders /Payers7

Recent Trends in Healthcare Affordable Care Act (ACA) - ? Emphasis on value and outcomes, compared with the outdated focus onvolume Digital Health-Patient-Centered CareTransparency: Cost and ServicesTelehealthIncreased Data Demands and Data SecurityWearable Tracking Devices Accelerated consolidation and collaboration Fast-paced transformation of health insurance into a true retail industry The consumer is king Innovation - Personalized medicine8

Functions in HealthcareMarketing Opportunities at global, regional and country levels Drive product development, strategy and implementation; frequentinteraction with external stakeholders and sales force, as well as R&D,finance & manufacturingFinance Assignments may be focused in any number of areas, including businessdevelopment, treasury, strategic planning, corporate finance, business unitoperations, or geographic salesBusinessDevelopment/CorporateDevelopment Valuate and negotiate deals with third parties to broaden portfolio; mayinclude mergers and acquisitions, licensing agreements, joint ventures,equity investments, and research collaborations. Establish and manage strategic relationships with other companies Small teams; can branch out into marketing or finance roles Strategy Solve business line / division challenges (e.g. business strategies,market entry, customer segmentation, etc.)Collaborate with a team to conduct interviews/research, analyze,synthesize and present resultsSmall teams; can branch out into marketing or finance roles9

Functions in Healthcare10

Sample Healthcare InternshipsPFIZER(Marketing) Organized and launched national series of educational programs prior tohigh-profile label update; developed program content and format at risk,a first for the divisionATHENAHEALTH Developed acquisition integration strategy for acquired cloud-basedelectronic medical record provider by performing organizational salesand account management process cross-walks, staffing assessments,and best practice reconciliations Identified attractive M&A and licensing opportunities for newly-enteredtherapeutic area; Developed strategic rationale and analytics forselection of targets; Performed financial valuation for M&A Prepared for the pediatric launch of a first in class biologic. Identified thekey HCP segments and provided deep dive on role of the Pediatrician inthis disease area. Conducted expert interviews with specialist HCPs,attended multiple disease specific conferences, and created andimplemented Pediatrician gence)GENZYME(ProductMarketing)11

Sample Healthcare InternshipsMEDTRONIC(CorporateDevelopment) Negotiated XXM supply agreement for a JVDeveloped acquisition-based strategy for Medtronic’s entry into renalcare services business in emerging markets Built value model to guide buyers by partnering with clinical, technical,health economics teams to align product fit with different paymentmodels; leadership deployed tool to support evidence strategy, trainglobal sales teams Analyzing and providing a recommended strategy for Teladoc comparedwith the electronic health record vendors, the second involved abusiness case and initial product definition for a telehealth physicaltherapy project Worked on how dialysis patients are educated in the hospital on facilitychoice, working on dialysis, and insurance options. Teed up twoopportunities for DaVita to fill gaps in patient education in the hospitalgoing CARE(CorporateStrategy)12

Functional Breakdown of Accepted Healthcare Offers*Preliminary data as of 7/28/172017 Full Time2017 14%Business DevelopmentBusiness eneral/Project Mgmt/Mgmt DevelopmentEntrepreneurial ManagementInvestment Management/Portfolio MgmtGeneral/Project Mgmt/Mgmt DevelopmentOperations/Production Management/Supply ChainHuman Resource ManagementOtherOperations/Production Management/Supply ChainProduct Development/StructuringOtherProduct/Brand MarketingProduct Development/StructuringProduct/Brand Marketing* Class of 2017 dataSales

The Job Search

MBACM & Recruiting eveloping employer relationshipsInconsistent demand year-to-yearJust-in-time hiringLess clear on MBA recruiting value propFRPEIS30 minutediscussionswithcompanyrep eriod:Begins1/8/1815

Two Strategies Two skillsetsMATUREENTERPRISEMATURE Follow structured process andtimeline Navigate unstructured processand timeline Be ready for when anopportunity is available Be ready if an opportunitybecomes available Prepare for and attend “formal”recruiting events Prepare for multi-formatnetworking opportunities Market your candidacy anddifferentiatorsProactively build & leveragenetwork, pitch solutions andemployment opportunities Conduct on-campus interviews Travel to companies andrecruiters Manage heavy recruitingschedule in fall/winter Sustain recruiting effortsthroughout the yearTailor your strategy to the company/roleto ensure recruiting success

Tailor Your Strategy to the Company/RoleYOUR STRATEGYMATUREENTERPRISEIdeal for firms that are likely to Ideal for firms that are likely to Have an established timeline andprocess Hire as needed, when needed Recruit Wharton / other MBAs on aregular and annual basis Recruit Wharton / other MBAssporadically, or are first time hirers Travel to campus and host recruitingevents Use more remote or virtual means toconnect with students (less likely tovisit campus) Have dedicated HR/Recruiting staff Have a small or no HR/Recruiting staff Interview on-campus during FRP Make offers to multiple students Employ multiple interns fromWharton and/or other schools Interview by phone, web or on-site atcompany HQ Make a few or only one offer Employ one intern from Whartonand/or other school

Company Example: J&J PharmaYesNoDoes the company have anestablished timeline or processfor this role?Does the company regularlyrecruit at Wharton for this role?Is there an HR/companyrepresentative dedicated torecruiting for this role?Will company reps be on campusto recruit for this role?Will the company be interviewingfor this role during FRP?CUSTOMIZEDSTRATEGY

Representative Outreach List: Summer 201730 maturecompanies56 companies30 startups19

What Healthcare Recruiters Seek MarketingFinanceBusinessDevelopmentStrategyPassion for healthcare is expected; healthcare experience is preferred Leadership nalytics Analytics /quantitativeTeamworkCommunication /executivepresenceLeadership AnalyticsStrong foundationof financeprinciplesStrong subjectmatter expertise(prior banking orconsultingexperience)Presentation /persuasionInterpersonaleffectiveness /ability to buildrelationships StrategicthinkingAnalytics /quantitativeLeadership /teamworkCommunicationResultsStrong subjectmatter expertise(prior consultingexperience)20

Career Switching% FT Accepted Offers – Reported “Industry or Function 0%30%20%10%0%42%33%54%75%75%79%

Pre-MBA Experience: HealthcareManufacturing ent Banking9%Technology3%

Case ExampleAMY L. CHOWANSKY, WG15Undergraduate Institution: University of PennsylvaniaPre-Wharton: ROSETTA - Independent digital agency Career Switcher & Non-HCM candidate Attended health care and CPG information sessions sponsored by MBACM Actively networked at company-sponsored social events; joined clubs; participatedin cover letter and interviewing workshops sponsored by MBACM and clubs MBACM partnership: resume, interview prep, offer negotiation 4 great summer internship offers Internship at Pfizer; Full-time offer accepted Became MBACM Career Fellow23

Case Study: Recruiting in Healthcare Industry Tim DaubertBackground : Software start-up in pharmaceuticalindustry (2 yrs), followed by The Advisory BoardCompany (4 yrs)Internship: Strategy Intern at Nuna HealthBest advice: It's easy to get caught up in the buzz ofmature recruiting during the fall semester, but if youknow you plan to recruit for a start-up, take the timeto relax and just get your thoughts together. Also,when structuring your search, try to find a balancebetween casting a wide enough net but also stayingtargeted - there are tons of new digital healthcompanies, and it helps to have some focus. Amanda WyattBackground: Consulting (marketing & strategy)Internship: PfizerJob Search Strategy: MatureBest Advice: ) Start with a wide list of targetcompanies and narrow over time. It takes minimaltime to attend EIS early on, but they are a criticalsource of information 2) Practice interviewing, evenfor behavioral questions. Outlining your key storiesand achievements, and practicing how to answerdifferent questions using these stories, will be criticalto your success. 3) Identify advocates at your favoritecompanies. 4) Leverage other students to prepare.24

Case Study: Recruiting in Healthcare Industry Meagan O’KaneBackground: Biopharmaceutical processdevelopmentInternship: Global Marketing, CelgeneJob Search Strategy: MatureBest Advice: Be open minded! It is important tohave a focus (e.g industry), but do not hesitate toapply for different positions at different firms. Speakto all the 2Ys who interned in your target position(s)but also at your target company. You might besurprised to find a role you never considered soundslike the perfect fit. Keep in mind that your initialimpressions of a firm count for a lot, but they are notthe whole picture. Be certain to engage with acompany multiple times, and if you are still unsureof fit - apply anyway! You never want to limit youroptions. Michelle TingBackground : Worked in executive search consulting,for healthcare and educationInternship: Business Development and Operations atDoximityBest advice: Take advantage of the summer internshipas a no-strings attached opportunity to try somethingdifferent.25

Wharton MBA Alumni Survey 2014 – IndustryChangesIndustry change from 1st to 2nd place of employmentnd2 Place of Employmentst1 place ofEmploymentConsulting andprofessional servicesn 752Consumergoods/Retailn 252Financen 835Government,Education, andNonprofitn 95Health, Biomedical,and Pharmaceuticalsn 152Manufacturing,Energy, andConstructionn 236Technology, Mediaand Telecomsn 306Othern 305Consultingandprofessionalservicesn 463Consumergoods/Retailn 282221(29%)68(9%)36(14%)Government,Education, andNonprofitn 176Health,Biomedical, andPharmaceuticalsn 188Manufacturing,Energy, andConstructionn (5%)9(3%)19(6%)13(4%)162(53%)Financen 822Technology,Media andTelecomsn 399Othern 370