Write a 700- to 900-word paper on the influence of entrepreneurship in health care. This is an opinion paper, so resources are not necessary; however, be sure to provide references if you use specific examples or resources in your essay.
Include the following in your paper:
- The positive and negative ways that entrepreneurship has affected the health care field.
- An example of a recent health care business that you are familiar with that has changed the way health care staff perform their jobs or the way patients receive services.
Format your assignment according to APA guidelines.
Click the Assignment Files tab to submit your assignment.
Expert Solution Preview
The healthcare industry is continuously evolving, and entrepreneurship plays a crucial role in its evolution. In recent years, entrepreneurship has significantly changed the way healthcare delivery systems operate, generating new avenues for patients and expanding healthcare access. However, the impact of entrepreneurship in healthcare is not entirely positive. Concerns over private interests over public health, affordability of healthcare services, and regulatory issues have raised questions regarding the benefits and drawbacks of entrepreneurial healthcare practices. This opinion paper explores the positive and negative ways in which entrepreneurship has affected the healthcare industry.
The positive ways that entrepreneurship has affected the healthcare field
One major positive impact of entrepreneurship in healthcare is the increased access to healthcare services. Entrepreneurs have discovered innovative ways to provide healthcare services that were previously not accessible, either due to geographical or socioeconomic barriers. For instance, telemedicine has helped people in remote areas to access healthcare services through remote consultations and diagnosis. The technology also allows healthcare providers to communicate effectively and securely, exchange data, and collaborate on patient care even at a distance.
Another positive impact of entrepreneurship is the increased patient-centered care. Unlike traditional healthcare systems that focus solely on disease treatment, patient-centered care recognizes the importance of the patient in healthcare decision-making and treatment processes. Entrepreneurs have been instrumental in advocating for the shift towards a patient-centered healthcare system. They have developed tools such as electronic health records (EHRs) and wearable technologies that help providers monitor patient health status, personalize treatment plans, and improve the overall healthcare experience.
Moreover, entrepreneurship has contributed significantly to the development of medical innovations. Entrepreneurs have created start-ups that specialize in developing new technologies, drugs, and therapies that aim to improve patient outcomes and reduce healthcare costs. For instance, robotic surgery and artificial intelligence (AI) have revolutionized medical procedures by increasing accuracy and reducing the risk of error. Medical innovations have also expanded healthcare options and led to improved medical practices.
The negative ways that entrepreneurship has affected the healthcare field
One significant downside of entrepreneurship in healthcare is the challenge of balancing profit-making goals with public health interests. Private entities may focus on maximizing profits, potentially limiting the availability and affordability of healthcare services. For example, drug pricing practices have contributed to the high cost of prescription drugs, making it challenging for some patients to access lifesaving medications.
In addition, the entrepreneurial initiatives may be regulated inadequately, leading to sub-standard healthcare practices. Regulations are necessary to ensure patient safety and the quality of healthcare services. However, entrepreneurs may neglect ethical considerations in their pursuit of profits, thereby compromising the quality of healthcare services. For instance, unethical practices such as overbilling, false advertising, and fraudulent billing practices taint the public image of entrepreneurship in healthcare and increase public skepticism towards healthcare providers.
An example of a recent healthcare business that has changed the way health care staff perform their jobs or the way patients receive services
One recent healthcare business that has disrupted the healthcare industry is Zocdoc, a technology-based platform that connects patients with healthcare providers. Zocdoc has changed the traditional way of booking appointments, where patients would have to call healthcare providers or hospitals to schedule a visit. Zocdoc makes it easy for patients to search for healthcare providers based on their location, insurance coverage, and specialty.
Zocdoc has also made scheduling appointments much more convenient for patients by eliminating paperwork and wait time. Patients can use the Zocdoc app to book appointments immediately, and they also receive reminders on upcoming appointments, helping them manage their health more efficiently.
For healthcare providers, Zocdoc has given them the opportunity to reach new patients and grow their practice. Zocdoc provides healthcare providers with an electronic scheduling system, which enables them to manage their consultation schedule, and they can access patients’ health insurance information and medical history, making consultations efficient and effective.
In conclusion, entrepreneurship has both positive and negative impacts on the healthcare industry. On one hand, it has led to increased access to healthcare services, improved patient-centered care, and innovative medical technologies. On the other hand, lucrative interests may undermine the public’s health interest, and poorly regulated entrepreneurial practices may compromise the quality of healthcare services. Zocdoc is an example of a recent healthcare business that has made significant changes in healthcare delivery systems. Entrepreneurs have a critical role in shaping the healthcare industry, and it’s imperative to create ethical and patient-centered healthcare systems that prioritize both the public interest and profit-making goals.