Medical Entrepreneurship: Conceptualization, Perspectives, Scope, Dynamics, and Implications

Lukman Raimi, Ibrahim Adekunle Oreagba () and Fatimah Mayowa Lukman
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Ibrahim Adekunle Oreagba: University of Lagos
Fatimah Mayowa Lukman: Universiti Brunei Darussalam

Chapter Chapter 2 in Medical Entrepreneurship, 2023, pp 13-23 from Springer

Abstract: Abstract In the global healthcare industry, medical entrepreneurship has found its way into colleges of medicine and entrepreneurship ecosystems. It is a concept that is still largely misunderstood by a large spectrum of physicians, health professionals and nonhealth professionals. This chapter discusses medical entrepreneurship, perspectives, scope, and undercurrent dynamics to strengthen research and practice. A critical literature review (CLR) was exclusively used in developing the chapter. At the end of the CLR, valuable insights emerged. First, medical entrepreneurship as a medical-oriented business model creates new business opportunities in the healthcare industry that meet the needs, demands, and changes in the fields of medicine, biotechnology, and social entrepreneurship. Second, medical entrepreneurship is designed to help stakeholders in the health sector complement and sustain the functionality, quality, and performance of the healthcare system by developing new, creative, and alternative medical-oriented ventures to redress the deficits in the global health sector for dual benefits (economic return on investment and social wellness for the people). Third, the scope of ME covers medical tourism, healthcare entrepreneurship, medical courier services, medical writing services, medical waste disposal services, medical tourism, surgical innovation, surgical cosmetics, health and fitness centers, medical escort services, public health entrepreneurship, and digital health entrepreneurship. Finally, the chapter contributes to policy enrichment by explaining the practical implications of embracing medical entrepreneurship in medical colleges and society at large.

Keywords: Conceptualization; Critical literature review; Medical entrepreneurship; Dynamics; Practices; Perspectives; Scope; Healthcare industry (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-19-6696-5_2

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DOI: 10.1007/978-981-19-6696-5_2

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