Reflection Paper †Entrepreneurship in Health Care Essay

ontogeny in the wellness feel for at gotion has been taked over the historic ten to twenty years. Prior to the Social certification Act of 1965, the term innovation or enterpriser was not used practically in wellness caveat. Since the introduction of the government tertiary payer system, innovation and entrepreneurship has taken off. So, what is entrepreneurship in health care? This undertake is passing game to look at the effects entrepreneurship has on health care and attempt to call the positive and negative ship canal it has influenced health care today.What is an Entrepreneur?Debated for many years, this decisive question to the study of entrepreneurship impacts to be criticized and analyze by some of the worlds leading researchers. The communication channel of the word entrepreneurship is derived from the French word entreprende, which actor to undertake, as in undertaking a occasionicular activity (Davi parole, 2008, p. 1). According to Davison, the entreprene ur is a creator of value. In health care, this definition would mean that an entrepreneur in a person who creates value in the health care industry.Affect of Entrepreneurship in Health CareAmerican health care is the leader in the nation for seriously ill luck patients. The United States has had more Nobel Prize winners for medication than any other country because of the dedication to innovation in health care. Citizens of American can be thankful for the advance(a) ideals that entrepreneurs have brought to our markets. People used to adept shop for bettor prices on such(prenominal) items as airfares, lower hotel rates and so far computers. Now, shopping for healthcare is a part of living in the United States. Websites such as WebMD, Revolution Health, and eHealthInsurance, now unfold consumers up-to-the-minute information on median conditions, drugs, and insurance options, as well as basic quality information on doctors and hospitals (Howard, 2008). With all this inf ormation avail fit, patients can intelligently talk with their physicians ab off the most on- passing game treatments available and about their options for treatment.The Positive and veto AspectsTechnology has come a long way, curiously in health care. To understand what has been misadventure in the health care industry, familiarity of where it came from is essential. Health care was practically a paper and pencil industry and it was the utmost(a) to make the change to technology which do it time consuming for health care providers. Not until the passing of the Social bail Act of 1965 was technology fully cognize within health care. Since then, technology has been cited as being the major driver of locomote healthcare expenditures worldwide ( fire, 2008).The positive eyeshot of the innovations of technology is the treatments and equipment brought about by innovational ideals that has proudly-developed into quality care. This quality of care has created a demand by p atients and their physicians for more and more innovation by entrepreneurs. other positive aspect of the red-hot health care technology is based on recent scholarly evidence, that such products yield to increases in longevity and mobility, reductions in in upstandingity and pain, improvements in worker productivity and improvements in quality of life (Burns, 2008).According to Burns (2008), a negative aspect is that the personify of all this virgin technology has accounted for 20 percent to 40 percent of the tog up in health expenditures over the past forty years Burns. Aside from cleanse quality of care and increased longevity, evidence has not shown that more and more good technology volition produce better outcomes or added value.Ex antiophthalmic factorle of a legitimate Entrepreneurial BusinessThe ex angstrom unitle chosen for this essay falls under corporate entrepreneurship, which is discussed in Barringer and Ireland (2008, p. 6). Most people think of entrepreneu rship as someone starting a bracing business however, with corporate entrepreneurship an established firm go out create new sophisticated products for their customers. MinuteClinic is one example of progressive ideals that comes out of the need to have quick healthcare available just like going into a local 24-7 drug stemma such as CVS Pharmacy.The ideal developed when the founder, Rick Krieger, need treatment for his sons possible strep-throat. Due to the length of time it took for his son to be diagnosed he came up with the ideal of convenient countenance in clinics (MinuteClinic, 2008). The first MinuteClinic opened in Minneapolis, MN in May 2000. They focused on seven common conditions. Strep throat, mono, flu, young-bearing(prenominal) bladder infections, ear infections, sinus infections and maternity testing MinuteClinic.The impact that these clinic has had on patients has been so successful that there more than 50 MinuteClinic health care centers that can be foun d in select CVS/ chemists shop stores in Florida (MinuteClinic, 2008). Patients are now able to walk into a CVS Pharmacy and necessitate quick health care. Most visits will take from 15 minutes to 1 hour depending on the symptoms of the patient.ConclusionTo conclude, it is apparent that an entrepreneur is an individual who seeks risk, has the need to work on an individual basis and pursues a business strategy of high growth and outsize profits. Real entrepreneurs dilate on uncertainty and find ways of finding the resources they need to achieve their goals. If they get intot have enough capital, they will find a way to get it. From a health care standpoint, an entrepreneur can be an individual such as Rick Krieger being innovative based on personal experience or it can be large corporations like Johnson and Johnson whose innovations have affect the lives of many. Entrepreneurship in healthcare is a fairly new concept however, it is one that will continue to get larger and larger .ReferencesBarringer, B. A., & Ireland, R. D. (2008). substructure to entrepreneurship. In Entrepreneurship Successfully launching new ventures (2nd ed., pp. 3-35). Upper Saddle River, NJ Pearson learner Hall.Burns, L. R. (2008). The business of healthcare innovation in wharton school curriculum. Retrieved January 11, 2009, from http//www.cambridge.org/catalogue/catalogue.asp?isbn=0521547687&ss=exc&utm_source=DOI&utm_medium=MultiLink&utm_content=0521547687&utm_campaign=CDIDavison, E. D. (2008). Entrepreneurship. Research Starters Busienss, 1, 1-12. Retrieved January 10, 2009, from EBSCOhost database.Howard, P. (2008). Health cares new entrepreneurs. Retrieved January 11, 2009, from http//www.city-journal.org/printable.php?id=2702MinuteClinic. (2008). MinuteClinic becomes participating provider with amobarbital sodium Cross and Blue Shield of Florida. U.S. Newswire. Retrieved January 11, 2009, from ProQuest database.