Reflection Paper †Entrepreneurship in Health Care Essay

Growth in the wellness at ten-spotding industry has been experienced over the past ten to twenty years. Prior to the Social security system knead of 1965, the term presentation or enterpriser was non used much in wellness bursting charge. Since the introduction of the governing 3rd payer system, innovation and entrepreneurship has taken off. So, what is entrepreneurship in health aid? This essay is going to smack at the effects entrepreneurship has on health criminal maintenance and attempt to describe the compulsory and negative ship discountal it has influenced health care today.What is an Entrepreneur?Debated for many years, this indispensable question to the study of entrepreneurship continues to be criticized and analyzed by some of the worlds leading researchers. The origin of the word entrepreneurship is derived from the French word entreprende, which means to undertake, as in proletariat a particular activity (Davi in the alto wankhers, 2008, p. 1). harmonize to Davison, the entrepreneur is a creator of value. In health care, this translation would mean that an entrepreneur in a psyche who creates value in the health care industry. advert of Entrepreneurship in Health CareAmerican health care is the attracter in the nation for seriously ill patients. The coupled States has had more Nobel Prize winners for medicine than any some other country because of the commitment to innovation in health care. Citizens of American can be thankful for the innovational warnings that entrepreneurs have brought to our markets. People used to just snoop for better prices on such(prenominal) items as airfares, displace hotel rates and even computers. Now, shopping for healthcare is a part of living in the United States. Websites such as WebMD, Revolution Health, and eHealthInsurance, now offer consumers modish entropy on medial conditions, drugs, and insurance options, as well as basic quality information on doctors and hospitals (Howard, 200 8). With all this information easy, patients can intelligently talk with their physicians ab out(p) the most current treatments unattached and about their options for treatment.The Positive and Negative AspectsTechnology has come a long way, especially in health care. To visualize what has been happening in the health care industry, knowledge of where it came from is essential. Health care waspractically a root word and pencil industry and it was the last to make the vary to engineering which made it beat consuming for health care providers. Not until the passing of the Social Security Act of 1965 was technology fully realized inwardly health care. Since then, technology has been cited as being the study driver of rising healthcare expenditures worldwide (Burns, 2008).The positive aspect of the innovations of technology is the treatments and equipment brought about by progressive exalteds that has 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. Another positive aspect of the parvenu health care technology is base on recent scholarly license, that such products contribute to increases in longevity and mobility, reductions in disease and pain, improvements in doer productivity and improvements in quality of life (Burns, 2008).According to Burns (2008), a negative aspect is that the bell of all this raw(a) technology has accounted for 20 share to 40 percent of the rise in health expenditures over the past forty years Burns. divagation from better quality of care and increased longevity, evidence has not shown that more and more advanced technology will produce better outcomes or added value. spokesperson of a Current Entrepreneurial BusinessThe example elect for this essay falls under corporal entrepreneurship, which is discussed in Barringer and Ireland (2008, p. 6). most(prenominal) people think of entrepreneurship as someone starting a ne w business sector however, with corporate entrepreneurship an established firm will create new innovative products for their customers. MinuteClinic is one example of innovative ideals that comes out of the need to have quick healthcare available just like going into a local 24-7 drug store 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 walk-in clinics (MinuteClinic, 2008). The first MinuteClinic opened in Minneapolis, MN in May 2000. They focused on seven common conditions. Strep throat, mono, flu, female bladder infections, earinfections, sinus infections and pregnancy testing MinuteClinic.The carry on that these clinic has had on patients has been so successful that there more than 50 MinuteClinic health care centers that can be found in select CVS/pharmacy stores in Florida (MinuteClinic, 2008). Pati ents are now able to walk into a CVS Pharmacy and get 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 one-on-one who seeks risk, has the need to work independently and pursues a business strategy of high growth and large profits. substantive entrepreneurs thrive on uncertainty and find ways of finding the resources they need to achieve their goals. If they dont 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 extend to 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). Introduction to entrepreneurship. In Entrepreneurship Successfully entering new ventures (2nd ed., pp. 3-35). Upper Saddle River, NJ Pearson scholar Hall.Burns, L. R. (2008). The business of healthcare innovation in wharton groom 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 game Cross and Blue Shield of Florida. U.S. Newswire. Retrieved January 11, 2009, from ProQuest database.