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Wharton's PhD program in Health Care Management and Economics provides rigorous training in applied economics and management coupled with advanced training in health care systems and health services research. Faculty members engage in a broad range of research related to health care management, economics, and policy. Major areas of research currently include: the impact of insurance status on medical expenditure and reported health status; potential sources of disparities in cardiovascular care; effects of Medicare Part D; adoption and diffusion of medical innovations; effects of pharmaceutical safety events on stock prices; programs for reducing losses from natural disasters and providing funds for recovery following catastrophic events; and issues of biopharmaceutical product variety and innovation. Doctoral students have opportunities to work closely with faculty at the Leonard Davis Institute of Health Economics, the Wharton Center for Health Management and Economics, and the world-leading University of Pennsylvania Health Care System. Health Care Management doctoral students predominantly come from a business, math, or social science background, and also include physicians, future physicians, and clinically trained professionals.