General Q's Flashcards

1
Q

Why consulting

A

Seeing problems in healthcare have interested me.
Hypothesised many ideas. Interested in innovations in field I am working (esp. data innovations)
Solidfied my interest through: clinical audits (quantitative) and through work at med tech company

Make a large scale difference

Variety of industry exposure whilst learning from very articulate and intelligent people

Working with corporate elite - C-suite level advice

Opportunity to travel

Implementors of innovations in healthcare. Well placed for this
- Pharma, Consulting and health pros will be the future

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

What does an associate do

A

Research and analytics - will enable me to gain insights. Have done research before (similar as had to get to know scientific background etc)

Client output - Making presentations and doing data analytics

Learning from seniors about how certain situations are managed

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

What is a work stream

A

Collections of activities which will add to the outcome

Research into particular aspects of a problem/aiming to identify if this is issue

Workstreams come together for the final output

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

What skills can you bring

A

Industry knowledge in medicine, research, pharmaceutical evaluation, MedTech, medical innovation

Soft skills: 
Communication through clinical, OpenMed, Innovative knowledge/orientation
Persuasion: society, sponsorship
Problem solving
Teamwork & Leadership
Problem solving

Hard skills:
Languages (basic Dutch)
Degree in Medicine and Surgery (innovations)
Microsoft office (research and audit, Presentations - prized)
Very basic computer programming (more courses coming)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Tell me about yourself

A

Final year medical. Interested particularly in MedTech and ongoing innovations in that area (getting involved)
Studies have given skills in problem solving and able to spot gaps for new practices (Society and coding course)
Gained an interest in finance underlying healthcare and did certification

Travel to Amsterdam - enjoyed traveling, able to speak basic Dutch

Outside of studies: Sporty

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

What industries are you interested in

A

Healthcare/social care and life sciences

Not much knowledge in others, very excited for increased exposure especially in Private equity as this is something which is also prominent in healthcare

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

What experience do you have

A
Clinical
Research
Service improvement
Team/Project management (society)
MedTech
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

Best accomplishment

A

Society:

  • Had to work/Persuade to get it going
  • Lots of interest and rewarding to get projects together
  • Enables me to be innovative
  • Skills in team leadership and delegation
  • Faced several challenges
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

Difficult situation

A

Firing person from Soc

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

When did yo have to work to a deadline

A

Final Research project Imperial

  • Had to be regimented and make deadline
  • Unpredictable: had to make alterations to accommodate (patient probs, ethics)
  • Had to make sure all members of team were on same wavelength
  • Self directed
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

When did you have to persuade a group

A

To set up the society

Sponsorship/funding of events

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

A recent crisis you handled

A

When sutures weren’t getting there on time/Registrars didn’t get there on time

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

What transferable skills do you have

A
Soft skills: 
Communication through clinical, OpenMed, Innovative knowledge/orientation
Persuasion: society, sponsorship
Problem solving
Teamwork & Leadership
Problem solving

Hard skills:
Languages (basic Dutch)
Degree in Medicine and Surgery (innovations)
Microsoft office (research and audit, Presentations - prized)
Very basic computer programming (more courses coming)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

When have you failed

A

Getting into medical school

Had to do better research into where
Strengthened my application accordingly

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

What is your strength

A

Able to get one with, cope with any situation and stay calm/confident

Quickly get to grips/understand new concepts and situations

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

What is your weakness

A

Unable to delegate/Overly self reliant (perfectionism)

17
Q

Example of leadership

A

Society

18
Q

Interview questions to ask

A

Does the firm offer further study
Are there many Drs working there
How is a case team picked, what happens if I want to get experience in a specific industry
How many graduate positions are there

19
Q

How have you built quantitative skills

A

Through clinical audit and research (SPSS)

20
Q

Problems facing consulting

A

inc competition = downward price pressure

internet based referrals

Hectic market: Mergers and Acquisitions happening at record rate

New and changing business models (e.g. .com like uber and Airbnb where they don’t have own products)

Need to employ new skills to match new products etc to match knowledge

21
Q

Articles, and challenges faced due to BREXIT

A

BREXIT = opportunity (Market access, supply chain management will change as we leave single market)

UK clamp down on free movement of citizens UK -> EU = problem. Will UK consultants be able to work in EU as freely as now?

Currently more private sector but once out more gov-run bodies will need outside advice

22
Q

Questions

A

Is there potential to transfer between consulting and Strategy?

Is the firm involved in structuring M&A or is it more looking for ideas?

Are there any healthcare professionals, How valuable is it?

How easy is it to implement changes in healthcare compared to other industries (regulations)

23
Q

Consulting in the NHS

A

Controversial use in cash strapped system of NHS but allows to make better use of resources

Challenges: Growing ageing population and new expensive tech

Cost cutting initiative have already been exhausted, now it is time to be more patient centred and use performance improvement approach

24
Q

Ideas for NHS

A

Improve the performance of large UK trusts to have knock on effects of smaller surrounding trusts

Work more closely with big pharma to develop innovative drug pricing models to improve access to meds

25
Q

With 500K what business

A

Green pharma (packaging etc biodegradable)