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Health Care Entrepreneurship: Financing Innovation

Author: KYLE L. GRAZIER and BRIDGET METZLER
Published in JHHSA, Vol. 28 No. 4

Entrepreneurship is often described as the ability to create new
ventures from new or existing concepts, ideas and visions. There has
been significant entrepreneurial response to the changes in the scientific
and social underpinnings of health care services delivery. However, a
growing portion of the economic development driving health care
industry expansion is threatened further by longstanding use of
financing models that are suboptimal for health care ventures. The
delayed pace of entrepreneurial activity in this industry is in part a
response to the general economy and markets, but also due to the lack
of capital for new health care ventures. The recent dearth of
entrepreneurial activities in the health services sector may also due to
failure to consider new approaches to partnerships and strategic
ventures, despite their mutually beneficial organizational and financing
potential. As capital becomes more scarce for innovators, it is
imperative that those with new and creative ideas for health and health
care improvement consider techniques for capital acquisition that have
been successful in other industries and at similar stages of
development. The capital and added expertise can allow entrepreneurs
to leverage resources, dampen business fluctuations, and strengthen
long term prospects.

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