Health care industry has grown over the last 20 years. With technology advancing and health care growing entrepreneurships have flourished independently and corporate wide. This paper will touch on the affects of entrepreneurship in health care, describe the positive and negative ways that entrepreneurship has affected the health care field, give an example of a current entrepreneurial business, and how it has affected the way patients receive service.
The United States has more Nobel Prize winners then any other country because of the commitment to innovations in health care. Corporations as John Hopkins Health (JHH) and The Institute for National Health (NIH) are always looking for innovations to cure disease. If it were not for these
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This has created a demand by patients and physicians for more innovation by entrepreneurs. Physicians want to be able to provide their patients the latest technology as a reasonable cost. Entrepreneurs compete for the best product. Another positive aspect of the new health care technology is based on recent scholarly evidence, that products contribute to increases in longevity and mobility, reductions in disease and pain, improvement in worker productivity and improvement in quality of life (Burns, 2008). Cost of new technology is a negative aspect, health expenditures have increased over the past 40 years by 20 to 40% (Burns, 2008). Entrepreneurship has increased the availability of health care entities across the United States. Health care is more competitive and more treatment modalities are available for society. Health care competition can be looked as both negative and positive. Physicians and health care organizations are looking for new innovations and business opportunities to draw more clientele. New technology keeps physicians and health care organizations competitive and forces them to provide better and safer patient care.
Most people look at entrepreneurship as someone starting a new business; however, corporate