The College of Health (COH) hosted the first event of the six-part Population Health Colloquium series. The annual College of Health Colloquium is a premier event that began in 2020. It brings together students, faculty, staff, alumni, community partners, and friends of Lehigh to present and discuss important topics in population health. This year, the theme of each event addresses a different topic related to “The Business of Health.” The theme invites the Lehigh community to explore the intersection of these areas, while highlighting the Integrated Business & Health (IBH) Program, which welcomed its first cohort of undergraduate students this Fall. In line with the university's strategy, "Inspiring the Future Makers," IBH promotes the core goal of fostering a deeply interdisciplinary education.
View the full recording here.
“Deep, practical, real-world challenges aren’t constrained by academic dividing lines,” said President Joseph Helble, “I think we see this embodied perhaps most fully in healthcare and in the programs of the College of Health, which has been intentionally and thoughtfully interdisciplinary from the start.”
Kicking off the series, President Helble introduced “The Business of Health: Founding & Growing a Start Up,” moderated by Vince Forlenza ’75, chair of Lehigh University’s board of trustees and former CEO and then executive chairman of the board of directors of Becton, Dickinson and Company (BD). Forlenza was ranked number 31 on the Wall Street Journal’s list of 250 most influential and effective corporate directors. Forlenza led a conversation with Jeff Burbank ’86, chair of the COH’s Dean’s Advisory council and chief executive officer and a director of NxStage Medical since he founded the company in 1998. The company is focused on developing portable dialysis machines for home use. Burbank led the company from its founding all the way through its $2 billion dollar acquisition in 2019 from Fresenius. He’s currently a director at Artivion, a device and implantable tissue company.
“There are many great examples of Lehigh graduates in healthcare. That’s why I’m so excited about the IBH program. It combines the things that I had to go to the school of hard knocks to put together myself,” Burbank said, “So what did I really take away from Lehigh? It was how to problem-solve. It’s not about the issues, it’s about the solution.”
The conversation between Forlenza and Burbank covered topics including risk management, the changing landscape of medical technologies and the iterations of product development and efficiency. After spending a portion of his early career in blood processing, Burbank expanded on his motivation and interest in home dialysis. He saw the space for opportunity where the dialysis market had consolidated; they were optimized and automated to a point where transitioning to home dialysis would not be feasible to invest in. Home dialysis vastly improves the quality of life for patients while reducing costs for the healthcare system and Burbank was ready to rethink that technology from the clinical setting, to the home.
Both speakers commented on the challenges they faced beginning their careers blending their business and health backgrounds. The new IBH program empowers students to learn core business skills through the lens of health. And, experiential learning and internship opportunities, a signature of the College of Health, enable students to continue learning outside of the classroom.
“Experiential learning and interships—do that early,” Forlenza said. “The challenges are big, but the opportunities are huge. There’s no lack of opportunity. Take the complexities that are involved to think broadly about a problem. One of the things that I have loved about being a healthcare CEO is the mission, and people are attracted to that.”
While it may be a different world than when Burbank and Forlenza were students at Lehigh, they both remarked that some things don’t change—perspective and attitude are what flourishing entrepreneurs can always control. Dean of the College of Health, Beth Dolan, added that allowing time for curiosity plays a critical role in discovering interest and passion. Even before establishing an idea or getting started on a business model, shaping the right perspective could be the best place to begin. Burbank’s own key pieces of advice were tailored to address learning behaviors and establishing the values of a successful entrepreneur.
“There are times where you just have to get out in front and drag everybody with you. You can’t sit in the same place and expect a different outcome,” Burbank added. “If money is your motivation, you’re going to go through some tough times, and you’re not going to hang on. If the mission is your motivation, you’re going to stick, and you’ll go through the good and bad.”
The second event in The Business of Health series takes place on October 7 from 12:00-1:30 p.m. on Zoom. “The Future of Aging: Business, Care, and Community” will explore the comprehensive landscape of aging, from policy and community support to the practicalities of business models and the critical role of caregivers. The conversation will be moderated by professor Michael Gusmano, Department of Population Health; with Tony Wolk ’89, President at ALW, LLC.; Ken Faltischek, chief executive officer at Mobile Health and Matt Lippitt ’94, Vice President and Division Director, Payor Contracting and Strategic Partnerships at Bayada Home Health Care. Register here for more details.
