Why Doctors Make Great Entrepreneurs
There is an assumption that doctors and business don’t mix. But I believe physicians are ideally placed to bring new clinical innovations from a bright idea to a brand new product. Is there an entrepreneur in the house?!
Arlen Meyers |
Some think that physician entrepreneurship is an oxymoron – an inherent contradiction in terms. Conventional wisdom has it that doctors are lousy businesspeople, and that they should concentrate on patient care and leave the business stuff to someone else. I disagree. As someone who works with, and teaches, those people interested in the business of science and medicine (physicians, scientists, engineers, business students and other health professionals), and also as someone who practices clinical entrepreneurship, I know that doctors have the potential to make great entrepreneurs. Admittedly, only a small percentage of the 625,000 actively practicing physicians in the US have an entrepreneurial mindset and even fewer are innovators. However, it only takes a few to disrupt the system and add substantial value.
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