Reflection Paper †Entrepreneurship in Health Care Essay

Growth in the wellness assist pains has been experienced over the past ten to twenty y heads. Prior to the complaisant Security Act of 1965, the term base or enterpriser was non used much in health care. Since the introduction of the government 3rd remunerator system, innovation and entrepreneurship has taken off. So, what is entrepreneurship in health care? This try on is deprivation to look at the effects entrepreneurship has on health care and attack to describe the overconfident and negative ways it has influenced health care today.What is an enterp leapr?Debated for many years, this vital question to the study of entrepreneurship pass offs 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 style to undertake, as in undertaking a particular activity (Davison, 2008, p. 1). concord to Davison, the entrepreneur is a creator of value. In health care, this d efinition would convey that an entrepreneur in a person who creates value in the health care industry.Affect of Entrepreneurship in Health CareAmeri after part health care is the drawing card in the nation for seriously ill patients. The United States has had more(prenominal) Nobel plundering winners for medicine than any other country because of the commitment to innovation in health care. Citizens of American can be thankful for the innovative ideals that entrepreneurs view as brought to our markets. People used to just shop for better prices on such(prenominal) items as airfares, lower hotel rates and even computers. Now, shopping for healthcare is a part of living in the United States. Websites such as WebMD, gyration Health, and eHealthInsurance, right off offer consumers up-to-the-minute information on medial conditions, do drugss, and restitution options, as well as basic quality information on doctors and hospitals (Howard, 2008). With all this information available, patients can intelligently talk with their physicians about the close to current treatments available and about their options for treatment.The Positive and Negative AspectsTechnology has come a long way, especially in health care. To understand what has been happening in the health care industry, knowledge of where it came from is essential. Health care waspractically a paper and pencil industry and it was the last to make the change to engine room which made it while consuming for health care providers. Not until the departure of the Social Security Act of 1965 was technology fully realized in spite of appearance health care. Since then, technology has been cited as being the major driver of move healthcare expenditures worldwide (Burns, 2008).The positive aspect of the innovations of technology is the treatments and equipment brought about by innovative ideals that has developed into quality care. This quality of care has created a require by patients and their physician s for more and more innovation by entrepreneurs. Another positive aspect of the juvenile health care technology is based on recent scholarly evidence, that such products contribute to increases in longevity and mobility, reductions in disease and pain, improvements in worker productivity and improvements in quality of look (Burns, 2008).According to Burns (2008), a negative aspect is that the cost of all this new technology has accounted for 20 percent to 40 percent of the rise in health expenditures over the past forty years Burns. asunder 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.Example of a Current Entrepreneurial BusinessThe example chosen for this essay falls under corporal entrepreneurship, which is discussed in Barringer and Ireland (2008, p. 6). Most people hold of entrepreneurship as some nonpareil starting a new business however, with corporate entrepr eneurship an established firm will create new innovative products for their customers. MinuteClinic is one example of innovative ideals that comes out of the read 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, consume 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 come in clinics (MinuteClinic, 2008). The first MinuteClinic opened in Minneapolis, MN in May 2000. They centre on seven common conditions. Strep throat, mono, flu, female bladder infections, earinfections, sinus infections and pregnancy testing MinuteClinic.The impact that these clinic has had on patients has been so no-hit that there more than 50 MinuteClinic health care centers that can be found in select CVS/pharmacy stores in Florida (MinuteClinic, 2008). Patients are now able to walk into a CVS Pharmacy and g et quick health care. Most visits will take from 15 minutes to 1 second 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 separately and pursues a business strategy of high growth and large profits. hearty entrepreneurs thrive on uncertainty and experience 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 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). Introduction to entrepreneurship. In Entrepreneurship Successfully launching new ventures (2nd ed., pp. 3-35). Upper Saddle River, NJ Pearson Prentice 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.