This is the Healthcare Marketplace Specialization Healthcare Marketplace Overview, I'm Steve Parente and this is Module 5.3.1, Key Questions for an Innovation Valuation. So one of the big skills of this entire course is really to come up with some approach to evaluation of a new technology or policy innovation. And what we're going to do now is walk through in really the module 5.3 series, the different components of what a valuation would comprise. So for our example, we're first of all going to go through the executive summary of what a valuation needs to have. The executive summary should basically make sure that any report or structure really not have any mystery to it. Meaning that right up front you're going to be giving a verdict on whether the technology is going to work or not and be useful for investors. And so, the way that I want you to approach a valuation is not so much as a financial exercise. It's really getting an understanding of do all of the parts of the medical technology universe, the provider world, the technology itself, the financial world, all of them align fairly well. So, here are the key things that one have to take a look at. Are the patient and physician benefits known and what are they? Is the technology feasible and defensible? As a friend of mine likes to say, does it defy the law of physics or not? Is there a favorable way to get reimbursed by insurance companies? Do market estimates appear favorable in terms of whether this will be a good technology given the competition? Is further clinical support needed? This goes back to the comparative effectiveness and cost effectiveness, some things we talked about earlier. Is there the possibility for growth at high margins? Is payback favorable? Could there be any sort of disruptive technology in the market? Is it a billion dollar opportunity? And really the final one, the biggest one of them all, do you invest in this technology? Do you recommend investment? So, we're going to talk about technology that is designed to deal with a major cardiac issue, which is mitral valve regurgitation. Here's an image of the heart, inside we have a mitral valve. What normally happens in terms of blood flow is that this valve will go up and take the blood in and then go down and seal it. But if you have a prolapsed, that is a torn, mitral valve, blood will escape and flow back and will actually really limit the effectiveness of that particular heart valve. And so one way to deal with that technology is to have an annuloplasty ring. This is the current procedure. Basically if you have a torn mitral valve here, you would essentially then go in and really do kind of an open heart procedure to find this and then sow it all up. So that now it's no longer torn and everything works really well. However, it's a very complicated procedure, the risk of infection is huge. And if there's some way to be doing this in a minimally invasive way, that would be quite beneficial. So the next module, we'll go talk about what the technology is that might approach this in a new way. This concludes healthcare market specialization focused on medical evaluation information introduction.