Business Model for Medical Entrepreneurship

Muazu Hassan Muazu () and Shukurat Moronke Bello
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Muazu Hassan Muazu: Bayero University Kano
Shukurat Moronke Bello: Bayero University Kano

Chapter Chapter 3 in Medical Entrepreneurship, 2023, pp 25-38 from Springer

Abstract: Abstract Medical entrepreneurship has seen development in recent years. This chapter explains what medical entrepreneurship is all about and how the concept evolved over the years. Some innovations of cures to certain ailments, such as cancer and other serious diseases, were researched to understand what business models fit into medical entrepreneurship. The methodology used in this research was a desk-based approach. The findings revealed some workable medical entrepreneurship business models. The concept of a business model for medical entrepreneurs was discussed in the chapter, which includes the Payers—next-generation managed care model, Providers—re-imagining care delivery beyond the hospital, Pharmacy value chain—emerging shifts in the delivery and management of health care and medical tourism, among others. Some basic elements needed to harness the effectiveness of model innovation were also found to include standardizability, separability, and patient-centeredness presented. Equally, approaches to and challenges of developing a business model were discussed in the chapter. It was concluded that medical entrepreneurship business models would further instigate innovation in the healthcare value chain.

Keywords: Business Model; Entrepreneurs; Entrepreneurship; Innovation; Medicine (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_3

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DOI: 10.1007/978-981-19-6696-5_3

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