Entrepreneurship - Essay Example

? Entrepreneurship Reflection Essay Entrepreneurship Reflection Essay Over the past years, entrepreneurship had been perceived less important in the healthcare sector thus it received little attention. The barriers inherent in the culture and structure of healthcare organizations might have also been the main cause. Nevertheless, over the past ten years, healthcare industry has experienced tremendous growth which has promoted and created an environment for entrepreneurship to occur in the industry (Christopher & Kaur, 2011). The entire healthcare field has therefore been affected by entrepreneurship both in positive and negative ways. The level of health care delivered in healthcare organizations have been affected by entrepreneurship in the field. New creative and innovative thoughts have been formulated in the health care industry as a result of entrepreneurial activities. On the other hand freedom of choice plus intellection freedom for both physicians and patients have been greatly hampered with due to entrepreneurship. The main focus of this paper is to describe the manner in which entrepreneurship has affected health care in the organization. It also address the positive and negative ways that entrepreneurship has affected the health care field including an example of a current entrepreneurial business and how it has affected the way staff do their jobs or the way patients receive services. Ways in which entrepreneurship has affected health care The process of entrepreneurship has greatly affected and influenced the level of health care delivered in healthcare organizations. An entrepreneur is a person who creates value or add value to something hence based on this definition, it means that entrepreneurship has created and added value to health care industry. The scope and the speed of delivery of health care have greatly improved as a result of entrepreneurship (Christopher & Kaur, 2011). This is due to innovation and creativity in the health care field brought mainly by entrepreneurship. The innovations and creativity in the health care field exists because of high competition as a result of entrance of new entrepreneurs in the field. This has made it easy for the community to receive good health care services at a high speed. This therefore means that generally, entrepreneurship has positively affected health care field. Entrepreneurial activities have also created networks of access, social relationships and given both patients and physicians good experience in the field (Christopher & Kaur, 2011). A great transformational change in health care industry has been experienced as a result of entrepreneurship. Reduced costs of operation have been experienced in health care industry as a result of entrepreneurship. This is due to new arrivals of entrepreneurs in the field who takes over the market thus creates competition while eliminating inefficiencies such as high costs and poor services (Christopher & Kaur, 2011). Entrepreneurship has made it possible for people to shop for healthcare in the United States and other developed nations across the world. Entrepreneurs have offered consumers with information regarding medical conditions, insurance options and drug information. This information has made it easy for patients across the world to order and arrange for medication in advance. Positive and Negative Ways that Entrepreneurship has affected the health care field Positive Entrepreneurship has created more opportunities in health care rather than exploitation. This is as a result of innovation which has done away with inefficiencies in the field of healthcare. Entrepreneurship has also lead to creation of more opportunities and enabled mobilization of resources (Christopher & Kaur, 2011). Entrepreneurs are people who visualized patterns thus end up creating more opportunities beyond human thoughts. Cultural and behavioral patterns have been created by physicians while investing in them. This has created more opportunities in health care industry that no one thought. Various forms of evolving patterns have been discovered in the society as a result of innovation. The patterns are created through visualizing and consideration of data which the entrepreneur then begins to follow and act upon. The healthcare insurance industry has taken advantage of entrepreneurial activities to leverage the process of negotiation of physician fees together with the healthcare insurance premiums. The industry is trying to find ways through which they can easily appease their consumers and at the same time retain back their powers. Entrepreneurship has enabled physicians to open concierge practices by abandoning their traditional healthcare systems. Majority of physicians today have opened preventive health spas and clinics that are used majorly by wealth patients. Through innovations, entrepreneurship has led to improved healthcare. This is due to developments in various areas, for example, vaccines, DNA technology and gene therapy (Christopher & Kaur, 2011). Negative Only few entrepreneurial ventures in health care industry have benefited the public despite the discovery of different patterns in the society that have been of success. Majority of clinics and spas are expensive hence can only be afforded by the rich people in the society. It is also expensive to shop for healthcare services in the U.S. hence this means that the poor people in the society have not been able to benefit from entrepreneurial health care services. The healthcare system have not been able to properly manage entrepreneurship and the innovations that comes with it such as freedom of choice and intellectuals for both patients and physicians in fact they have greatly hampered with it. There are several restrictions that have been impinged on these freedoms by the rules and regulations set to benefit the system and the secondary stakeholders of the healthcare industry. The mess currently being experienced by the healthcare facility has been brought by entrepreneurship. The stakeholders in the healthcare industry have vested their interests on political system bringing more mess to the industry. The politicians have been listening and acting upon the interests of secondary stakeholders who are in control of the healthcare system bringing more mess and problems to the entire industry. Current Entrepreneurial Business There are several examples of entrepreneurial businesses in health care system in the society today some of which are beneficial while others are disadvantageous to the society today since they negatively affect the manner in which the staff members conduct their jobs and patients receive their services. In-store clinics are an example of entrepreneurial business in health care system. The physicians working in these kinds of clinics have taken advantage of the existence of holes in the drug system (Christopher & Kaur, 2011). They therefore sell drugs at a high cost and offer clinical services at high costs despite the fact that they offer best services to the patients. Entrepreneurs have also taken advantage of the hospital reimbursement defects thus have gone ahead to devastate the society in order to gain profits. These clinics however have not added any value to the kind of services offered to the patients despite devastating the patients with high prices. American Home Care Agency which has been in operation for ten years is another good example of entrepreneurial business in healthcare system. The agency has experienced medical staff members who know how to handle their patient by ensuring that they obtain enough comfort and good services. Some of the Home Care Programs that they offer include: Respiratory Management Program, Cardiac Care Program, Orthopedic/Joint Replacement Program, Respiratory Management Program and Alzheimer’s and Demential Program. American Home Care Agency allows patients to access care in their home environment at a cheaper cost as compared to staying in the hospital (Christopher & Kaur, 2011). In conclusion, the entire healthcare field has been affected by entrepreneurship both in positive and negative ways. New creative and innovative thoughts have been formulated in the health care industry as a result of entrepreneurial activities. Reduced costs, healthcare shopping and mobilized resources are some of the benefits that have been experienced in healthcare as a result of entrepreneurship. High costs of drugs and services and lack of freedom in healthcare industry are some of the negative effects of entrepreneurship in healthcare system. Reference Christopher, D., & Kaur, S. (2011). Entrepreneurship in biotechnology sector. IUP Journal of Entrepreneurship Development, 8(3), 40-59. Retrieved from http://search.proquest.com/docview/927983362?accountid=35812 Read More