Health Care Entrepreneurs Research Articles

OVERVIEW OF HEALTHCARE INNOVATION AND ENTREPRENEURSHIP

The healthcare system is under constant pressure from a growing and aging population, escalating healthcare costs, limited resources and increasing demand. Achieving the triple aim of healthcare – improving care, improving health and reducing costs – requires innovation. According to the World Health Organization (WHO), health innovation is the development of new or improved health policies, systems, products and technologies, services and delivery methods that improve people’s health, with a particular focus on the needs of vulnerable populations. Health innovations have both technological (innovative products, services or processes) and non-technological (organizational, policy, educational and social innovations) dimensions and play a critical role in improving the productivity, effi ciency, reliability, sustainability, safety and cost-eff ectiveness of health care. This article is the fi rst in a series of publications on innovation and entrepreneurship in health care. The paper examines the main types and categories of innovation and entrepreneurship, analyzes current innovation trends and directions in healthcare, factors that infl uence the adoption of innovative technologies in medical practice, and the characteristics of a human- centered approach to design thinking in healthcare. The article also discusses the concept of value- based healthcare, which focuses on providing the best possible care to achieve the best possible outcomes for each patient, using available resources effi ciently, and how innovation can improve the cost, quality, and access to healthcare.

Utilization of big data analytics to identify population health trends and optimize healthcare delivery system efficiency

Big data analytics has emerged as an incredibly valuable tool in understanding population health trends and improving the effectiveness of healthcare delivery systems. By leveraging big data sources from various domains, including the patients’ electronic health records, claims data, wearables, and social media accounts, healthcare organizations can obtain novel and rich insights regarding population health characteristics, predisposing factors, and disease progression. The arrival of big data has transformed healthcare organizations by providing a scientific population health management and health system enhancement tool. Using superior analytical tools, healthcare entrepreneurs and policymakers can discover relations, rates, and patterns that are concealed in large data sets. Such knowledge can be used for early detection of possible interventions, management of resources, and prevention measures, thus leading to better health and less spending on health issues. Moreover, big data analytics helps in early diagnostics and the development of management strategies for high-risk groups, which in turn improves the functioning and effectiveness of healthcare systems. It is also important to note that big data solutions in healthcare are not limited to population health management, but also include functional aspects of healthcare organizations. Additionally, using data about patient movements, resource consumption, and clinical activity, it is possible to determine inefficiencies and opportunities to improve processes in healthcare organizations. This approach of collecting and analyzing data helps in decision making thus reducing time and improving patient flow and experience. However, incorporating real-time data into the clinical decision support systems can improve diagnostic capabilities, treatments offered, and patient tracking resulting in improved quality of services delivered.

Inspiring Student Entrepreneurship and Innovation.

Background While student entrepreneurial interest is significantlycorrelated with the intention to pursue innovative healthcare ventures, many medical schools lack formal programs to nurture entrepreneurial skills. To investigate student interest in entrepreneurshipand their experiences with medical innovation, the Biomedical Entrepreneurship Network at Rutgers Robert Wood Johnson Medical School engaged students nationally in a Healthcare Innovation Summit, featuring a keynote address, pitch competition, and interactive workshops with accomplished innovators. Methods A Rutgers electronic Institutional Review Board (eIRB)-approved survey was disseminated to student attendees at the summit, with questions categorized into four themes: interest/motivation, barriers to ideation and execution, support for innovation, and confidence in entrepreneurial pursuits. Responses were quantified using a Likert scale, and qualitative feedback was thematically analyzed. Results Among the 54 respondents, 100% exhibited a significant interest in healthcare entrepreneurship. Students cited the following barriers: inaccessible resources (44%), insufficient funding (51%), lack of mentorship (60%), and time limitations (82%). The quantitative thematic analyses demonstrated that students desired formal education on pursuing innovation and dedicated assistance to foster critical thinking. While students were confident in their ability to pursue entrepreneurship, they were not confident in the necessary details required for successful endeavors and avenues for mentorship. Conclusions Pursuing healthcare entrepreneurship presents numerous barriers for medical students. Integrating formal entrepreneurship education - emphasizing mentorship and connection between medical students and postgraduate trainees, funding, and critical innovative thinking - into medical curricula can empower students in the pursuit of innovation-based projects and positive change throughout their careers, enhancing access, equity, and quality of healthcare.

Optopreneurship for a competitive and sustainable optometry practice in South Africa

Background: Optopreneurship entails the entrepreneurial activities within the optometry industry. The term is new and derived from optometry and entrepreneurship. Optometrists are professionals who are responsible for screening, examining, diagnosing, treating and managing vision and eye health problems through the provision of optical devices and therapies. Optometry business and entrepreneurship have been poorly studied.Aim: To provide an overview of optopreneurship and optopreneurial activities for competitiveness and sustainability in optometry practice from a South African perspective.Method: Literature was reviewed from Google Scholar, PubMed and ScienceDirect databases using key terms such as entrepreneurship, health entrepreneurship, optometry entrepreneurship and optometry business used.Results: Thirty-four scholarly articles were found to be relevant for the review. Fourteen articles were on entrepreneurship, 13 on eyecare and optometry, 2 on optometry business and 5 on healthcare entrepreneurship. Additionally, 24 websites were reviewed to provide evidence on entrepreneurship and optometry business. Though optometry business has higher revenue turnover potential, conglomerates exhibit superior business acumen over individual practitioners. Optometrists should enhance their business acumen and entrepreneurial agency by identifying underserviced areas such as to stay competitive.Conclusion: Engaging in optopreneurial activities will help optometrists to develop competitive advantage. There is a need to develop and collate optometrists’ business acumen and clinical skills. More research is required in optopreneurship.Contribution: This article seeks to highlight the overview of entrepreneurial activities and opportunities for optometrists in South Africa, and the need to develop a business acumen and entrepreneurial mindset to gain a competitive advantage.

Healthcare entrepreneurship: An integrative framework for future research

Healthcare entrepreneurship is of growing interest, but the area of research is not well defined and is disparate across disciplines. We take an integrative approach to examine the similarities and differences between the literature for the two parent domains (healthcare management and entrepreneurship). We present findings from an interdisciplinary four-phase Delphi study and propose a new framework to guide future research. Our proposed healthcare entrepreneurship framework not only reflects variations in key factors, such as actors, activities, processes and outcomes within the parent disciplines, but also suggests gaps, connections and future opportunities for research. Actionable summary and highlightsSince COVID-19, there has been an influx of healthcare entrepreneurial ventures, but, within a volatile market, mixed success. We find that healthcare entrepreneurship is different from work in healthcare or entrepreneurship alone. For healthcare entrepreneurs to achieve their targeted health outcomes as well as their operational and profitability outcomes, all stakeholders need to work together. For the clinician-turned-entrepreneur and the serial entrepreneur now in healthcare, we provide three actionable insights to address some of the practical challenges in healthcare entrepreneurship.1.We advise that venture teams include individuals from both entrepreneurship and healthcare backgrounds to shorten the learning curve, particularly as they develop the evidence base for the offering. Contacting entrepreneurship accelerators or university tech transfer and commercialization offices for which one may have had previous affiliations can be one approach to securing such team members.2.Healthcare entrepreneurs should consider how to include end-user or patient participation to create new healthcare solutions. Working with relevant patient advocacy groups can be one approach and may help to increase the relevance and patient-centeredness of the solution.3.Healthcare entrepreneurs may need to develop new business models and revenue streams. While healthcare is a human right, it requires financing to sustain offerings. One may strengthen one's “business and calling” mindset via joining healthcare entrepreneurship organizations for medical professionals, accelerators, and other local programs that support such entrepreneurial engagement in healthcare.In addition to these insights for healthcare entrepreneurs, we include practical insights for other key actors. Corporations may incentivize partnerships that normalize co-produced innovations. Venture capitalists might develop novel funding mechanisms linked to non-traditional outcomes. Non-profit organizations can serve as interdisciplinary conveners to raise awareness of healthcare entrepreneurship needs. Policy makers might consider ways to create business environments with competitive, yet reasonable, cost and pricing structures.

How healthcare entrepreneurship enhances ecosystem outcomes: the relationship between venture capital-funded start-ups and county-level health

PurposeResearch has examined how new ventures strengthen local economic outcomes; however, limited research examines health-oriented ventures and their impact on social outcomes, including health outcomes. Increased VC investment in healthcare service start-ups signals more activity toward this end, and the need for further academic inquiry. We examine the relationship between these start-ups and county-level health outcomes, health factors, and hospital utilization.Design/methodology/approachData on start-ups funded via institutional venture capital from PitchBook were merged with US county-level outcomes from the County Health Rankings and Area Health Resources Files for 2010 to 2019. We investigated how the number of VC-funded healthcare service start-ups, as well as a subset defined as innovative, were associated with county-level health measures. We used panel models with two-way fixed effects and Propensity Score Matched (PSM), controlling for demographics and socioeconomic factors.FindingsEach additional VC-funded healthcare service start-up was related to a significant 0.01 percentage point decrease in diabetes prevalence (p < 0.01), a decrease of 1.54 HIV cases per 100,000 population (p < 0.1), a 0.02 percentage point decrease in obesity rates (p < 0.01), and a 0.03 percentage point decrease in binge drinking (p < 0.01). VC-funded healthcare service start-ups were not related to hospital utilization.Originality/valueThis work expands our understanding of how industry-specific start-ups, in this case healthcare start-ups, relate to positive social outcomes. The results underscore the importance of evidence-based evaluation, the need for expanded outcome measures for VC investment, and the possibilities for integration of healthcare services and entrepreneurship ecosystems.

Ethical frameworks for AI in healthcare entrepreneurship: A theoretical examination of challenges and approaches

This theoretical examination explores the challenges and approaches to establishing ethical frameworks for the integration of artificial intelligence (AI) in healthcare entrepreneurship. As AI technologies continue to advance, their applications in healthcare hold immense potential for improving patient outcomes and driving innovation. However, ethical considerations are paramount to ensure the responsible and equitable deployment of AI-driven solutions. This paper delves into key ethical dimensions including privacy and data security, bias and fairness, accountability and transparency, and patient autonomy and consent. It identifies challenges such as technological limitations, regulatory complexities, and organizational barriers that impede the implementation of ethical frameworks. Additionally, it proposes approaches including collaborative governance models, ethical design practices, and continuous monitoring and evaluation to address these challenges. Through case studies and examples, the paper illustrates successful implementations of ethical frameworks in AI healthcare startups, highlighting lessons learned and their impact on patient outcomes and trust. Ultimately, this examination underscores the critical importance of ethical considerations in shaping the future of AI in healthcare entrepreneurship and provides insights for researchers, practitioners, and policymakers navigating this rapidly evolving landscape.

Concept of Micro Healthcare Entrepreneurship (MHE) to Facilitate Universal Health Coverage (UHC): Prospects and Challenges

In the pursuit of Universal Health Coverage (UHC), developing countries with limited resources face significant hurdles. Traditional top-down approaches, spearheaded by governments, often entail lengthy planning periods and substantial costs to reach underserved communities. This paper proposes a bottom-up, cost-effective, and preventive approach aimed at empowering local human resources and using advanced technology. We call it the Micro Healthcare Entrepreneurship (MHE) model. The MHE model comprises four primary components: (1) utilization of local human resources, (2) disruptive healthcare technology, (3) continuous training, and (4) available funds. Extensive testing of the digital health and social business elements across diverse contexts underscores their efficacy. Furthermore, the viability of social business funds has been established. To solicit feedback and refine the MHE concept, three workshops, conducted in phases, engaged 60 community healthcare service providers. This paper elucidates both the potential advantages and the challenges inherent in implementing the MHE model. By shifting the paradigm toward grassroots empowerment and leveraging existing community assets, this approach offers promise in advancing healthcare accessibility and sustainability in resource-constrained settings to achieve UHC.

Healthcare entrepreneurship: current trends and future directions

PurposeThe goal of this article is to provide an overview of healthcare entrepreneurship, both in terms of its current trends and future directions.Design/methodology/approachThe article engages in a systematic review of extant research on healthcare entrepreneurship using the scientific procedures and rationales for systematic literature reviews (SPAR-4-SLR) as the review protocol and bibliometrics or scientometrics analysis as the review method.FindingsHealthcare entrepreneurship research has fared reasonably well in terms of publication productivity and impact, with diverse contributions coming from authors, institutions and countries, as well as a range of monetary and non-monetary support from funders and journals. The (eight) major themes of healthcare entrepreneurship research revolve around innovation and leadership, disruption and technology, entrepreneurship models, education and empowerment, systems and services, orientations and opportunities, choices and freedom and policy and impact.Research limitations/implicationsThe article establishes healthcare entrepreneurship as a promising field of academic research and professional practice that leverages the power of entrepreneurship to advance the state of healthcare.Originality/valueThe article offers a seminal state of the art of healthcare entrepreneurship research.

Sustainable Rural Healthcare Entrepreneurship: A Case Study of Serbia

This article deals with the under-researched phenomenon of rural health entrepreneurship and its major characteristics. The purpose of this study is to explicate the process of providing health services in rural areas of a developing country and their relation to SDGs. The paper is based on six semi-structured interviews conducted with Serbian health entrepreneurs in rural areas (two private practices, two policlinics, and two dental practices), a review of laws and strategies relevant to the field, and three sessions of discussions with eight experts (four authors and four additional experts). The research methodology follows an empirical, mixed-method case study research procedure. The results are presented in relation to the aspects of frugality, family orientation, and sustainability-oriented innovation. The timeline of the six case studies demonstrates the increasing importance of health entrepreneurs in rural areas due to the aging population and, therefore, increased needs for quality healthcare in these areas. The financing instruments have also become more formal and substantial in recent years, enabling the growth of healthcare businesses in rural areas. However, a major obstacle to further sustainable development remains the non-refundability of services before the state-owned, obligatory health fund, creating major social inequalities, especially in rural areas.

Exploring Healthcare Entrepreneurship Ecosystem to Foster Solutions for Underserved Communities

Exploring Healthcare Entrepreneurship Ecosystem to Foster Solutions for Underserved Communities

Entrepreneurship in care for elderly people with dementias: situated responses to NPM-based healthcare reforms in the Netherlands

BackgroundDespite the great confidence of Western governments in the principles of New Public Management (NPM) and its ability to stimulate “healthcare entrepreneurship”, it is unclear how policies seeking to reform healthcare services provoke such entrepreneurship in individual institutions providing long-term healthcare. This study examines such situated responses in a Dutch nursing home for elderly people suffering from dementias such as Alzheimer’s disease.MethodsA four-year inductive longitudinal single-case study has been conducted. During this time period, the Dutch government imposed various NPM-based healthcare reforms and this study examines how local responses unfolded in the nursing home. Through interviews conducted with managers, administrators and supporting staff, as well as the examination of a large volume of government instructions and internal documents, the paper documents how these reforms resulted in several types of entrepreneurship, which were not all conducive to the healthcare innovations the government aspired to have.ResultsThe study records three subsequent strategies deployed at the local level: elimination of healthcare services; non-healthcare related collaboration with neighboring institutions; and specialization in specific healthcare niches. These strategies were brought about by specific types of entrepreneurship – two of which were oriented towards the administrative organization rather than healthcare innovations. The study discusses the implications of having multiple variations of entrepreneurship at the local level.ConclusionGovernmental policies for healthcare reforms may be more effective, if policymakers change output-based funding systems in recognition of the limited control by providers of long-term healthcare over the progression of clients' mental disease and ultimate passing.

A Review Study on Healthcare Management

Healthcare is an integral part of the mankind development. Managing the Healthcare sector has its own sphere of challenges. There are players in the market who have been contributing quit well towards healthcare. These Entrepreneurs who enter the field of Healthcare product demonstrate a unique feature of commercialisation with the moral attributes of producing product that protects the health interest of People. The Healthcare Entrepreneurship which entails to provide the solutions to the Healthcare Needs of the Society has been a great advent in the society since ages. Healthcare Startups have also gained momentum with time. The Healthcare starts ups in the Nation have been adopting innovative practices to solve needs of people. Healthcare Management supports this momentum and involves supervising medical services and facilities to ensure efficient patient care through tasks like planning, organizing, staffing, and resource allocation.&#x0D; This review paper is a descriptive article attempted by collecting data through the Secondary sources. The study aims to understand the concept &amp; essence of Healthcare Management. It further aims to gather insights on the Healthcare Management through structured review of literature. The authors have contributed a Healthcare Management recommendation based on the review study. The study depicts the knowledge on Healthcare Management and the literary effort can serve as Literature for further studies. The authors have considered Healthcare Management aspects at large rather any specific wing of Healthcare sector. Hence this may be the limitations of the study. The inferences drawn from the study may be indicative in nature rather exhaustive.

Determinants of private entrepreneurship in Kinshasa healthcare in the Democratic Republic of Congo: a structural equation modelling approach

Background Since the 1980s, the liberalisation of the healthcare sector, driven by structural adjustment policies promoted by the Bretton Woods Institutions, has resulted in a significant increase in private healthcare entrepreneurs. One of the primary goals of this shift was to enhance geographical access to healthcare. However, there have been no comprehensive studies analysing the determinants of local healthcare entrepreneurship development in the Democratic Republic of Congo (DRC). This study aims to evaluate the relationship between the health zone profile and the development of private healthcare service provision in the DRC. Methods This research employs a cross-sectional and analytical approach, using a quantitative methodology based on the Partial Least Squares Path Modeling (PLS-PM) technique. The focus was on measuring the relationship between variables associated with the health zone profile and the growth of private healthcare services. An econometric analysis was used to test and validate this relationship. Results The findings reveal a positive relationship between the profile of the health zone and the development of private health services in Kinshasa (coefficient of 0.720). The health zone profile is primarily influenced by the mortality rate (coefficient of 0.793), while the development of private healthcare entrepreneurship is most strongly reflected by the number of paramedical practices (coefficient of 0.293). Conclusions The study suggests that continuous training initiatives and efforts to reduce mortality are crucial for improving health zone management. Moreover, managing healthcare infrastructure effectively in response to growing urbanization, rather than merely increasing the number of health areas, is recommended for better health zone management in the DRC.

Nurturing next generation physicians: A new Israeli healthtech fellowship

The Israeli Society for HealthTech aims at advancing the integration of innovation and healthcare entrepreneurship into medical practice and across traditional health professions, to benefit patients and improve quality of care. In 2021, the Society launched the first fellowship for board certified physicians in HealthTech. This backstory discusses the motivation of launching the program and reviews the design of the fellowship, including curriculum, the expertise of the lecturers, and initial tangible results of the program.

In a Search for Contemporary Growth Drivers: Does Public Healthcare Entrepreneurship Affect Economic Growth?

Entrepreneurship has been long recognized as an essential driver of economic growth. It is widely accepted that entrepreneurship increases innovation, firm formation, employment, and overall GDP. Despite the increasing research on both public entrepreneurship and entrepreneurship in healthcare, these different research areas have not been combined that much. To fill this research gap, this paper analyses whether public healthcare entrepreneurship influences economic growth. This study exploits the WHO Global Health Observatory database approximating various dimensions of entrepreneurship by specific aspects of compliance with international healthcare regulation. The study uses data for 170 countries from 2010 to 2019. Using the fixed effect panel setting, it tests whether improvements in public healthcare entrepreneurship (PHE) affect a country's economic growth. The results suggest that higher entrepreneurial orientation in public healthcare is associated with larger effects on output per capita, which is channelled through productivity. However, after reaching certain level of PHE development, the contributions to growth start diminishing. The findings from this paper produce several implications. First, by exploring the nexus between public entrepreneurship and healthcare entrepreneurship it introduces the concept of public healthcare entrepreneurship explaining its theoretical and empirical importance. It further provides empirical and quantitative support to the view that developing public healthcare entrepreneurship plays a role in achieving a higher output per effective worker. Thereby, this study provides evidence of a non-linear relationship between public healthcare entrepreneurship and growth. Finally, given the statistical and economic significance of the results, these findings motivate policymakers to consider developing policies that guide developing entrepreneurial orientation within public healthcare. We believe this is possibly the first study that considers entrepreneurial orientation withing a public sector into the economic growth discussion.

Communication for Healthcare Entrepreneurs and Healthcare Professionals

We live and work in a world where persuasion is an essential skill. We tend to communicate by instinct: all of us have learned to express ourselves with a certain fluidity and to try to influence others naturally. As healthcare professionals we frequently speak in public. The need that we have to participate in conferences and to debate our ideas in front of colleagues, write scientific works, or strike up conversations with patients and their families is evident in our training. But the fact is, all of us occasionally have recognized in our field types of people who in some natural way are able to capture the attention of an audience, reach out to the undecided, and make them change their mind.

Technology entrepreneurship in healthcare: Challenges and opportunities for value creation

The healthcare industry is nowadays increasingly forced to adapt to new fast-paced changes, despite its conservatism. Indeed, the number of new technology entrepreneurs and technology value is increasing. In this study, we use modern literature and illustrative cases to identify patterns of technological value creation in the healthcare industry with the purpose to form an understanding of the challenges and opportunities for technology entrepreneurs. Hence, we propose a new challenges-opportunities framework for understanding technology entrepreneurship (i.e., technology innovation, technology proactivity, and technology risk-taking) as a foundation for value creation concerning the needs of patients, medical personnel and hospitals, and the whole industry. We also end the article by outlining practical implications at the micro-level (i.e., patient advocacy and technology-enabled engagement strategies), meso-level (i.e., digital health solutions and motivation for collaboration), and macro-level (i.e., trust building and infrastructure).

Barriers to Entrepreneurship in Healthcare Organizations in Pakistan

There are many barriers to starting a medical institution in Pakistan. Some of the career barriers are entrepreneurship, gender barriers, and lack of knowledge about funding issues. Additionally, purchasing power parity (PPP) related barriers can hinder starting a healthcare startup. Additionally, academic issues can cause a lack of entrepreneurship in healthcare organizations. By understanding these barriers and working to overcome them, healthcare organizations can drive more innovation and growth within their organizations. Job barriers, gender barriers, funding issues, and barriers related to purchasing power parity are some of them. However, while expanding these barriers further, the structural issues are at the core of Pakistan's prevention of healthcare entrepreneurship. According to numerous studies, the state's small business policy, administrative procedures (new company registration, licensing, etc.), tax laws, access to finance (bank loans, grants, etc.), ensuring private property protection, and the standard of living in the country. , political instability/corruption, international trade barriers, a shortage of skilled manpower (HR), and an inefficient judicial system are structural barriers to healthcare startups in Pakistan. This critical reflection discusses these factors in detail and provides empirical evidence to support his claims.

Global entrepreneurship in healthcare: A systematic literature review and bibliometric analysis

AbstractThe Covid‐19 pandemic transformed the global entrepreneurship arena. The healthcare sector also transitioned from the traditional in‐person patient‐physician interaction to the virtual telemedicine healthcare delivery system with global outreach. The entrepreneur alliances in the healthcare sector almost doubled during the pandemic with maximum tie‐ups with international healthcare institutions. The study takes a bibliometric perspective by analyzing articles on global entrepreneurship in healthcare. It provides the most influential authors and institutions, the thematic structure through cluster analysis, co‐word network analysis, and co‐citation analysis related to the literature on global entrepreneurship in the healthcare domain. The findings emphasized the importance of local alliances compared to global alliances in healthcare service delivery, especially during a pandemic. Technology was found to be a great enabler for global entrepreneurship. The study also highlights the emerging research themes for scholars working on global entrepreneurship in the healthcare sector.