Health–Related Entrepreneurial

Activities in the Community

Setting
COMMUNITY HEALTH NURSING LECTURE
 Entrepreneur
❑ Ability to take the factors of production or
service-land, labor and capital and use them to
produce new goods or services.
❑ Perceives opportunities that other business
executive does not see or do not care about.
❑ Sees a need and then brings together the
manpower, materials, and capital required to meet
that need.
 Entrepreneurship
❑ Initiating changes in production.
❑ Always search for change, respond to it and exploit it as an
opportunity.
❑ Need to shift resources from approaches that have
produced low value into areas of higher productivity and
yield.
❑ Creates value.
 The key sectors of healthcare industry can be
broadly classified into following four
❑
sub-segments:
Health care services and facilities.
❑ Medical devices, equipment, and hospital supplies
manufacturers.
❑ Medical insurance, medical services and managed
care.
❑ Pharmaceuticals & Related Segments
 Public Health Entrepreneurship
❑ The opportunistic creation and implementation of
catalytic innovations intended to offer sustained
improvement in the health of populations in the face
of need; without being limited by the resources
currently in hand; involving collaboration with and
accountability to the constituency served and the
outcomes created.
 Entrepreneurship Basic Principles for Success
Be a Solution Provider - “Look for a way to make life
easy for others”
Have a Vision - “Successful entrepreneurs are those
that were able to transform their vision into reality”
Choose the Right Team - “Good team work builds
speed”
Viable Product/Service - Good products most times
sell itself”
Capital - “Capital isn’t scarce; vision is”
Entrepreneurship Basic Principles for Success
Accountability - “Accountability breeds responsibility”
Growth and Marketing - “Without continual growth
and progress, such words as improvement,
achievement, and success have no meaning”
Know Your Customer– “Always treat your customers
as special guests”
Priorities - “Things which matters most must never be
at the mercy of things which matter least”
Never Give Up - “Never, Never, Never Give Up”
Public Health Inherently Anti-Entrepreneurial
❑ No profit motives
❑ Governmental stuck in the box (Clinical vs PH)
❑ Slow moving relative to corporate world
❑ Products are harder to sell (cigarette and alcohol VS
milk)
❑ Lack of accountability (individual level)
❑ Stifled by funding restraints -best practice paradox.
Public Health Inherently Anti-Entrepreneurial
❑ Brain drain-under trained work force, both in
numbers and specialties
❑ Hard to target an audience when we have no
specific target audience (healthy population)
❑ We don’t really know how we’re doing
❑ Our focus is need and not just needs that will pay.
Public Health Offers Inherent Opportunities for
Entrepreneurship:
❑ Play on people’s fears!!!
❑ They may not know it, but everybody needs us, and
the market is wide open.
❑ We are selling some fabulous things; decreased
expenses, increased happy times
❑ Small bites = big change
❑ Passion abounds
Public Health Offers Inherent Opportunities for
Entrepreneurship:
❑ The market is more receptive. The time to innovate is
now!!
❑ Timing is good for public health and medicine to play
nice again
❑ The nature of public health is responsive.
❑ There is an inherent need for innovation because we
have failed with things in the past. So something has
to change!
❑ Evaluation tools for outcome (improved health)
 The Scope of Public Health Entrepreneurship
❑ Life insurance companies
❑ Large scale companies/factories
❑ Public health insurance / benefits schemes
❑ Health product production establishment
❑ Public health consultancy agencies
❑ Fitness centers
 Role of Entrepreneurship in Economy
❑ Identifying Existing Opportunities in the Market
❑ Creating Employment Opportunities
❑ Contributing to National Income
❑ Infrastructure Development
❑ Contributing to Community Development
 Nurse Entrepreneurs Place to Work
❑ Own offices
❑ As an independent nurse contractors for hospitals
❑ In home healthcare visiting patients
❑ Nurse educators
❑ Freedom to set their own hours and flexibility of
work based on the company they establish
 Nurse Entrepreneur Does the Work by:
❑ Use his/her nursing background to start own
business in healthcare industry
❑ This can either through medical devices, home
health products, nursing services, patient care,
nursing education, and consulting work
❑ It also includes accounting, marketing or sales, and
developing a customer base.
 Roles and Duties of Entrepreneur Nurse
❑ Establish business using his/her nursing profession
and experience
❑ Business promotion (advertisement and sales to
attract clients
❑ Human resources
❑ Accounting, payroll and tax issues/concerns
❑ Provide healthcare products or nursing services
Main Barriers to Business Entrepreneurship in
Nursing
❑ Legal and regulatory issues
❑ Regulation of profession
❑ Job career culture
❑ Social values
❑ Medical-centered model
❑ Hospital care mode
❑ Reimbursement for health systems
❑ Collaborative arrangements with physicians
Main Barriers to Business Entrepreneurship in
Nursing
❑ Economic crises and recessions
❑ Personal and ethical conflicts
❑ Lack of acceptability and recognition by the public
❑ Lack of corporatism among nurses
❑ Lack of public policies
❑ Lack of technical supports
❑ Non-change culture
❑ Unfair competition and Gender issues
 Thanks
you for
listening!
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