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Medical entrepreneurship

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This is a presentation for students in the field of medicine taking up entrepreneurship course.

Published in: Health & Medicine
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Medical entrepreneurship

  1. 1. MEDICAL ENTREPRENEURSHIP Can doctors be entrepreneurs?
  2. 2. At a school of Medicine, students are trained to be MBA at the same time
  3. 3. At MBAH program of the same famous Graduate School, Entrepreneurship is a desired elective
  4. 4. 1. Running hospitals 2. Starting clinics and diagnostic centers; 3. Starting pharmas 4. Research 5. Running businesses unrelated to medical practice Many doctors are engaged in business entrepreneurship:
  5. 5. Why are so many doctors entrepreneurs?
  6. 6. Built to be entrepreneurs
  7. 7. 1.Sustained efforts (marathon duty, study, exams) 2.Focus 3.Helping others Traits developed in MD training:
  8. 8. Study of word algorithm: MEDICAL ENTREPRENEURSHIP
  9. 9. Entrepreneurship: “Creating something from virtually nothing “ (bootstrapping) “Creating something of value with resources one does not have control of”
  10. 10. Are cures by MDs/meds miracles?
  11. 11. Activities related to entrepreneurship:
  12. 12. Weekly exercises at MBAH - What is new? NU 10
  13. 13. Imitation:
  14. 14. TREATMENT PROTOCOLS
  15. 15. Machines and medical equipment
  16. 16. Creativity involves: Basic and Applied Research
  17. 17. Office Design
  18. 18. New cures and protocols
  19. 19. Innovation: Creating items/process of lower value to higher value: 1. industrial to commercial establishment
  20. 20. 2. Ordinary room to ICU
  21. 21. 3. Surgery to stem cell therapy
  22. 22. 4. Surgery to laparoscopy
  23. 23. 5. Radiation to monoclonal cancer therapy
  24. 24. Invention: 1. RF Scalpels
  25. 25. 2. RF instead of fat removal by surgery
  26. 26. 3. Prosthesis val by surgery pment from eye implants
  27. 27. 4. Cheaper cautery equipment
  28. 28. 4. Cryosurgery
  29. 29. 5. Diagnosis of diabetes from eye implants
  30. 30. What can be new?
  31. 31. MAIN VALUE PROPOSITION
  32. 32. 1. Key Activities 2. Key Resources 3. Key partners (often overlooked: pharma, suppliers, banks, Philhealth, HMOs)
  33. 33. FINANCIALS
  34. 34. What can be new:
  35. 35. What can be new: Complaint reduction (mortality rate in hospital
  36. 36. Examples of new:
  37. 37. Foreign models of ENTREPRENEURSHIP “Intelligence and capability are not enough. There must be the joy of doing something beautiful.” – Dr. G. Venkataswamy “Making a dent in global blindness” Devi Prasad Shetty is an Indian philanthropist and a cardiac surgeon. He has leveraged economies of scale to provide affordable healthcare. Both are from India
  38. 38. Vision – to the be McDo of cataract surgery in India Does a $5.00 cataract hospital Practices economies of scale, use of non nursing grads as nurse, cross subsidy The Aravind Eye Care System – An Ophthalmic Mark of Excellence
  39. 39. - a philanthropist cardio thoracic surgeon - his hospital does a $1,200 bypass operation, $10 hemodialysis - Practices cross subsidy, economies of scale, and partnering with foundations to help the poor/indigent get operated on. Devi Prasad Shetty
  40. 40. When you are admitted in Dr. Shetty’s hospital, the concern is the cure of the patient, not the money issue; money will come they say….
  41. 41. Connect with foundation Opening account to solicit funds
  42. 42. What should inspire you? 1. Your mission as an MD is to help others (oath as an MD) 2. Your greater purpose in life – to live in the loving presence of God. What will you say to God when you face Him
  43. 43. Examples of what is new? Use of ordinary plastic bag for colostomy bag Suka plastic bottle for thoracic drain Prosthesis designed by artist Portable cautery unitUse of ordinary ice cream container for cataract surgery
  44. 44. Other examples: 1. No cash out for delivery using Philhealth 2. P5t for cataract surgery (using in batch enzymes) 3. Clinics and hospitals whose MVP is to train residents, rather than profit. 4. Obtaining equipment for government hospital using Sumpaico formula
  45. 45. Others: 1. Software for integrated hospital admin: admission, billing, accounting, records 2. Apps for lab results 3. Software for lab results 4. Partnering with suppliers for equipment 5. Pharma on every floor 6. Pharma serving the public 7. Fast foods in hospital
  46. 46. The Makati Medical Center Case
  47. 47. MMC story – turn around from losses 1. Use of solar and wind turbines 2. Use of banks to collect fees/admission 3. Use of cooperatives to run Pharma to be vat free and thus lower med costs, lower losses from pilferage 4. Mall within the hospital for added revenue 5. Use of technology for admission and record keeping
  48. 48. Research: 1. Alzheimer Fund – resulted in decline Alzheimer cases. 2. Michael Milken Prostate Foundation – resulted in 25% decline in deaths from prostate cancer. Efficient, effective – 5 page paper and 90 days turn around
  49. 49. Basic and applied research being run as a VC, or enterprise - many outputs, results, less inputs.
  50. 50. What will you love doing to help mend the broken our outdated health care system
  51. 51. MDs can and will be entrepreneurs; must in a medical school MD – MBA program
  52. 52. Thank you
  53. 53. Presentation by: Jorge U. Saguinsin
  54. 54. Slide Title • Make Effective Presentations • Using Awesome Backgrounds • Engage your Audience • Capture Audience Attention
  55. 55. Slide Title • Make Effective Presentations • Using Awesome Backgrounds • Engage your Audience • Capture Audience Attention
  56. 56. Slide Title Product A • Feature 1 • Feature 2 • Feature 3 Product B • Feature 1 • Feature 2 • Feature 3

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