Andrew Hayek '23 Unveils the Implications of US Blood Market Through MassURC Presentation

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Andrew Hayek, finance and economics `23 presented at the Massachusetts Undergraduate Research Conference (MassURC) during his senior year last spring. Titled “The Market for Blood Establishments: Market Structure, Paid Donations, and Social Disparity,” his project was about understanding the market structure for blood establishment centers and policy implications related to changes of ownership in blood establishment centers. 

The project collects data from the FDA between 1996 to 2022 and analyzes ownership statuses among blood establishment centers. Hayek said, “I [was] a finance major but on the pre-med track so I thought research in blood plasma would be an interesting combination to pursue my interests in both disciplines.” Hayek’s father also works as a blood pathologist, so this was a way to understand more of his work as well. 

Hayek presented at MassURC as he wanted to share his progress with peers who are investigating similar topics in the field of economics, given how he invested a lot of time into the project.

“I also thought presenting would be an excellent opportunity to practice public speaking skills and create professional presentation content,” he added. 

Lucy Xialou Wang was Hayek’s advisor: “Andrew has done a great job working with me on the research project about the US blood (plasma) industry. He has been proactive in making progress, collaborative in leading the RA data collection team, and responsive to comments and suggestions,” she said. 

She commented on his presentation as well: “Andrew also did an excellent job presenting in the MassURC, where he showed skills combining his training in finance, economics, and pre-med curriculum.”

As for the conference itself, Hayek’s favorite part was the question and answer session that followed the presentation: “sometimes a member of the audience can share an outside perspective that could potentially provide insight into future research directions. Also, depending on the type of questions asked, I learn where I can add additional content and focus more which will guide how I create future presentations,” he explained. 

Although Hayek graduated, his research formed a strong foundation for future work, like using the US census to understand the geographic location of blood establishment centers in relation to regional prosperity: “Since plasma donation is compensated, it has been suspected that collection centers may be located in poorer neighborhoods which the research hopes to evaluate.” 

“Considering I am studying both business and biological sciences, I saw this project as an excellent opportunity to research and learn about disciplines I am interested in,” said Hayek. 

“Through healthcare economics research, I saw an opportunity to add a fresh perspective by having an understanding in business and science.” 

Hayek is currently applying to medical school now and hopes his research experience will add a “fresh perspective” among physicians by having experience in research that was more than just pure biology. 

This year, MassURC is in-person on April 19, 2024. The deadline to submit an abstract for the conference is Feb. 23, 2024