Entrepreneurship in Healthcare
Entrepreneurship – Write a 2000-2500 word essay addressing each of the following points/questions. Support
your ideas with at least three (3) scholarly citations in your essay. Use strict APA guidelines to format the paper.
The cover page and reference page do not count towards the minimum word amount and an abstract and table of
contents are not necessary and if included are not part of the overall word count.
Describe an innovative idea you have been entertaining. Include what grants you could write and the potential
outcomes of the idea. Include how entrepreneurship drives successful healthcare innovation. In this assignment
you can discuss any idea you can imagine but be sure to include the financial implications of implementing the
plan.
Sample Solution
I have been entertaining the idea of creating a mobile app that would help provide support and resources to people living with chronic illnesses. This app would be designed to make managing long-term health conditions easier by providing access to personalized care plans, helpful information and tips, and connecting users with other patients who can offer mutual support. It would also serve as an education resource for those interested in learning more about their condition or treatment options.
To bring this concept to fruition, I could apply for grants from government organizations such as The U.S. Small Business Administration which offers loans specifically for entrepreneurs in the healthcare industry (U.S Small Business Administration , 2020). Additionally, I could seek out funds from private organizations like The Robert Wood Johnson Foundation which recently launched a grant program focusing on digital health solutions aimed at improving health outcomes among vulnerable populations (Robert Wood Johnson Foundation , 2019 ).
Entrepreneurship plays an integral role when it comes to successful healthcare innovation since it provides the drive needed to develop new ideas into viable solutions. It allows individuals with unique perspectives on health issues such as myself the opportunity to explore creative ways of addressing these challenges through new products or services that may otherwise not exist without taking risk . For instance, my proposed mobile app could provide patients with greater control over their own well-being while simultaneously allowing providers real-time insight into patient progress and helping reduce costly medical errors due to inadequate communication .
In conclusion , my mobile app concept has potential financial implications if brought forth by innovative entrepreneurship efforts . With adequate funding via grants from public & private institutions focused on advancing healthcare technology development , my vision has immense possibility for positively impacting the lives of many facing chronic illness related struggles.
