Medical Entrepreneurship: Trends and Prospects in the Digital Age

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This book brings together conceptual, theoretical, policy-based, and empirical contributions from multidisciplinary lenses to bridge the existing knowledge gap in the field of medicine, entrepreneurship and health economics. This book serves as a much needed intellectual resource providing guidance to the entrepreneurial-minded medical doctors (Medipreneurs), social entrepreneurs, policymakers, academics on the subject matter with a view of applying the knowledge gained for reinvigorating the healthcare delivery system leveraging a business approach. The contributions serve as a guide to connect entrepreneurially with market opportunities, especially to provide relevant health-oriented products, services, technologies and other medical solutions for social impact in the developed and developing countries with the overarching goal of assisting policymakers to accelerate the attainment of the Sustainable Development Goal 3 (SDG3).

Author(s): Lukman Raimi, Ibrahim Adekunle Oreagba
Publisher: Springer
Year: 2023

Language: English
Pages: 379
City: Singapore

Foreword
Contents
Editors and Contributors
1 An Overview of Medical Entrepreneurship: Trends, Prospects, and Challenges in the Digital Age
1 Introduction
2 Overview of Book Chapters
3 Conclusion
References
2 Medical Entrepreneurship: Conceptualization, Perspectives, Scope, Dynamics, and Implications
1 Introduction
1.1 Methodology/Approach
2 Defining Medical Entrepreneurship/medical Entrepreneur
3 Perspectives on Medical Entrepreneurship
4 Scope of Medical Entrepreneurship and Emerging Jobs
5 Conclusion and Implications
References
3 Business Model for Medical Entrepreneurship
1 Introduction
2 Literature Review
2.1 Business Model for Medical Entrepreneurs
3 Methodology
4 Insights
4.1 Key Elements for Medical Business Model Innovation
4.2 Six Approaches/Business Models in the Traditional Medical Care Model
4.3 Challenges of Operating a Model
5 Conclusion
References
4 Medical Ethics and Entrepreneurship: Convergence and Divergence
1 Introduction
2 Literature Review
2.1 Concept of Ethics and Its Theoretical Models
2.2 Medicine, Health, and Health Promotion
2.3 Conceptualizing Medical Ethics
2.4 Concept of Entrepreneurship and Theories
2.5 Entrepreneurship and Medicine
3 Design/Methodology/Approach
4 Findings/Results/Insights
4.1 Research Question One: What Are the Roles of Medical Ethics and Entrepreneurship in Innovative Development?
4.2 Research Question Two: What Are the Ethical Issues in Medicine and Health Promotion?
4.3 Research Question Three: What Are the Convergence and Divergence Points of Medical Ethics and Entrepreneurial Principles?
5 Discussion/Conclusion
6 Implications of the Findings and Policy Prescriptions
References
5 Reconciling Medical Ethics and Entrepreneurship: Convergence and Divergence Debates
1 Introduction
2 Literature Review
3 Methodology/Design
4 Results
5 Discussion
5.1 Goal of the Stakeholders
5.2 Delivery of Quality Service at Relatively Low Cost
5.3 Establishment of Health Facilities and Employment of Health Professionals
5.4 Fees for Medical Services
5.5 Care Accessibility to All and Ensuring Mass Coverage
5.6 Management of the Available Limited Resources and Standardizing Medical Practice
5.7 Extent at Which Use of Technology and Artificial Intelligence (AI) Is Allowed
5.8 Conduct of Research and Operation of Do-It-Yourself (DIY) Labs
5.9 Physician Referral System
5.10 Conflicting Roles of Medical Care Organizations (MCOs) and Health Insurance Companies
5.11 Organ Procurement, Transplantation and Medical Tourism
6 Implications of the Findings and Policy Prescriptions
References
6 Investment Opportunities in Medical Entrepreneurship from a Global Snapshot
1 Introduction
2 Methodology/Approach
3 Demand–Supply Gap Analysis in the Healthcare Industry
4 Investment Opportunities in Medical Entrepreneurship
5 Requirements Before Investing in Medical Entrepreneurship
6 Conclusion and Managerial Implications
References
7 Funding Sources for Medical Entrepreneurship in the Digital Age (Middle East Perspective)
1 Introduction
2 Literature Review
2.1 Digital Medical Entrepreneurship in the Middle East: Trends and Challenges
2.2 Financing Structure for Medical Entrepreneurs: A Theoretical Background
2.3 Financing Sources for Medical Entrepreneurs in the Middle East Region
3 Research Methodology
4 Empirical Findings
4.1 Comparison of Financial Performance Between Medical Entrepreneurship Investments Based on Internal and External Funding Sources
4.2 Comparison of Financial Performance Between Medical Entrepreneurship Investments Based on External Funding Sources
5 Discussion and Conclusion
References
8 Funding Sources for Medical Entrepreneurship in the Digital Age (African Perspective)
1 Introduction
1.1 Methodology/Approach
2 Conceptual and Theoretical Issues
2.1 Sources of Funds for Medical Entrepreneurship (ME) in the Digital Age
2.2 Theory of Resource-Based View
3 Key Entrepreneurial Challenges
4 Findings/Result/Insights
5 Summary, Conclusion, and Recommendations
References
9 Future Health Care and Medical Entrepreneurship in the Age of Pandemic
1 Introduction
1.1 Deviating Number of Patients to Remote Care
1.2 Enhanced Focus on Data Analysis and Surveillance Systems
1.3 Progress of Political, Legislative, and Healthcare Management Systems
1.4 Progress of Communication Technology-Based Methods
1.5 Evolution of Financial Models to Support Scientific Research, Crisis Awareness, and Cooperation
1.6 Disaster Awareness vs. Applied Improvisation
2 The Requirement for a New Status Quo
2.1 Allowing Patients to Manage Their Health Proactively
2.2 Revealing Artificial Intelligence Potential: The Road to Future
2.3 Disclosing Patterns in Disease, Reaching a Diagnosis Swiftly, and Advancing Therapies Promptly
3 Prime Considerations for a Resilient, Technology-Driven, Sustainable Future
3.1 Next-generation technologies
4 Future Leaders of Evolution
4.1 Interoperable System
4.2 New Paradigms of Chronic Care
4.3 Sustainable Supply Chain
5 Conclusion
References
10 Medical Schools and Curriculum Enrichment in Entrepreneurship
1 Introduction: Medical Curriculum in Context
2 Curriculum Reforms: Minor or Major Reforms—Making a Case for Entrepreneurship Education
3 Literature Review
3.1 Concept of Entrepreneurship
3.2 Defining Medical Entrepreneurship
4 Medical Curriculum Enrichment and Methods of Teaching Entrepreneurship Education
4.1 Curriculum Design
4.2 Teaching Methods for Cascading Medical Entrepreneurship
5 Possible Pitfalls in Medical Entrepreneurship
6 Conclusion
References
11 Social Entrepreneurship and Medical Entrepreneurship: Lessons from Nigeria
1 Introduction
2 Literature Review
3 Methodology
4 Insights
5 Discussion and Conclusion
6 Implications of Findings and Policy Prescription
References
12 Case Studies of Medical Entrepreneurship
1 Introduction
2 Literature Review
2.1 Medical Entrepreneurship: Commercial Vehicles
3 Theoretical Development
3.1 Entrepreneurship
3.2 Medical Practice
3.3 Entrepreneurship in Healthcare
4 Design/Methodology/Approach
5 Findings
5.1 Category 1: Platforms
5.2 Category 2: New Innovations
5.3 Category 3: At-Home Services
5.4 Category 4: Technology Developers and Suppliers
5.5 Category 5: Healthcare Logistic Services
5.6 Category 6: Additional Services
6 Summary
7 Conclusions and Recommendations
8 Appendix: List of Cases
References
13 Healthcare Consumerism and Implications for Care Delivery
1 Introduction
2 Literature Review
2.1 Consumerism and Healthcare Consumerism
2.2 Healthcare Consumerism and Patient Care
2.3 Healthcare Industry and Consumerism: Current Status in India
2.4 State of Healthcare Consumerism During COVID-19
2.5 Healthcare Consumerism is a Motivation for Change
2.6 Healthcare Consumerism: Marketing’s New Command
3 Challenges and Opportunities for Healthcare Consumerism in India
4 Conclusion
References
14 Empirical Analysis of Health Innovation/Digital Health Entrepreneurship and Resilience in European Countries
1 Introduction
2 Literature Review
2.1 Healthcare Innovation & Entrepreneurship
2.2 Digital Health Entrepreneurship
2.3 Bibliometric Analysis of the Literature in the Field
3 Data and Methodology
4 Empirical Results
5 Conclusions
References
15 Future Healthcare Payment Models in Medical Entrepreneurship
1 Introduction
2 Literature Review
3 Policy Prescriptions and Recommendations
4 Conclusion
References
16 Healthcare Innovation & Entrepreneurship, Digital Health Entrepreneurship
1 Healthcare Innovation
2 The Need for Innovation in Healthcare
2.1 Innovative Healthcare Technologies
2.2 The Healthcare Innovation Attraction
3 How Healthcare Innovation Helps in Economic Growth and Efficiency
3.1 Healthcare Entrepreneurship
3.2 Business Practices Make the Industry Work
3.3 Latest Payment Models Reward Value
3.4 Technology Shifts Modern Healthcare
3.5 Recent Development in Digital Health Entrepreneurship
4 Uniqueness of Digital Health
4.1 Consumer-Focused
4.2 Technology
4.3 Business Model
5 Obstacles to Innovation
References
17 Alternative Medicine in Health Care: Is the Time not Now to Standardize African Phytomedicine to Indigenize Health Care and Create Entrepreneurial Opportunities?
1 Introduction
1.1 Pharmaceutical Companies and Phytomedicine
1.2 Re Engaging Phytomedicine in Global Health
2 Why Are Pharma Industries and Entrepreneurs Important?
3 Bridging the Gap to Increase the Engagement of Industries and Entrepreneurs
3.1 Quality and Standardization
4 Responsible Innovation in Health, Phytomedicine, and Sustainable Development Goals (SDGs)
5 Conclusion
References
18 Medical Entrepreneurship and Triple Helix Model in the Nigeria Health Sector
1 Introduction
2 Literature Review
2.1 Who is an Entrepreneur? Who is a Medical Entrepreneur?
2.2 Concept of Entrepreneurship
2.3 Definition of Medical Entrepreneurship
2.4 Triple Helix Model (THM)
3 Methodology
4 Results/Findings
5 Conclusion
6 Implications of the Findings and Policy Prescriptions
References
19 Diabetic Care Center and Nutrition/Dietetics in Nigeria
1 Introduction
1.1 Methodology
2 Global Dimensions of Diabetes
2.1 Deleterious Effects of Diabetes Mellitus
2.2 Prevention of Diabetes Mellitus
3 Food Type for Diabetes: Glycemic Index and Dietary Guidance
3.1 Diets for Diabetes Patients
3.2 Food Pyramid
3.3 Carbohydrate Counting
3.4 Calorie Contents of Nigerian Foods and Drinks
4 Foods for the Management of Diabetes Mellitus in Nigeria
4.1 Nutrition and Diabetes
4.2 Dietary Carbohydrate and Diabetes
4.3 Dietary Fats and Diabetes
4.4 Dietary Protein and Diabetes
5 Strategies for the Prevention of Diabetes Mellitus
6 Conclusion
6.1 Recommendations and Future Direction
References
20 Sustainable Innovation in Healthcare Delivery: The Role of Alternative Healthcare Practitioners
1 Introduction
2 Literature Review
2.1 Complementary and Alternative Medicine (CAM)
2.2 Innovative and Sustainable Health Care Delivery
3 Methodology/Approach
4 Insights
4.1 Alternative Health Care Practitioners
4.2 Global Practices of Alternative Healthcare Delivery
5 Discussion
6 Conclusion
6.1 Implication of Findings and Policy Prescriptions
References
21 Alternative Medicine and Healthcare Delivery: A Narrative Review
1 Introduction
2 Literature Review
2.1 Quality of Complementary and Alternative Medicines
2.2 Efficacy of Complementary and Alternative Medicines
2.3 Safety of Complementary and Alternative Medicines
2.4 Regulation of Complementary and Alternative Medicines
3 Discussion
3.1 Role of CAM in the Healthcare Delivery System
3.2 Entrepreneurial Prospects for Complementary and Alternative Medicines
3.3 Complementary and Alternative Medicine in The Digital Age
4 Conclusion
References
22 Digital Innovation in Healthcare Entrepreneurship
1 Introduction
2 Advances in Healthcare Innovation and Digital Health Entrepreneurship
3 The Impacts of Digital Technologies on Healthcare Innovation
3.1 Electronic Health (eHealth)
3.2 Improved Storage and Access to Medical Information and Data
3.3 Big Data
3.4 Improved Lines of Communication
3.5 Electronic Health Records
3.6 Telemedicine and Telehealth
3.7 Mobile Health (mHealth)
3.8 Online Education or eLearning in Health
3.9 Health Apps
3.10 Drones
4 The Limitations, Challenges, and Drawbacks of Digital Technologies in Healthcare Innovation
5 Conclusion
References
Index