Plenty of doctors around the globe have had innovative ideas to improve healthcare and the medical field in general. However, they’ve also battled a lack of connections, networks, and resources to bring these ideas to fruition.
Fortunately, in recent years, we’ve seen an emergence of opportunities that bring together medical professionals, business owners, investors, market researchers, and developers.
These initiatives have paved the way for new medical technologies to beautifully come to life. Also, they’ve influenced medical students to pursue dual degrees in business or other related disciplines. Plus, more and more physicians are recognizing their value on the business side of medicine, driving them to become healthcare entrepreneurs – better known as “doctorpreneurs.”
What exactly are doctorpreneurs? What do they do? How are they influencing the medical field and the world at large? What does it take to be one?
Let’s roll up our sleeves and dive in.
What are Doctorpreneurs, Exactly?
As the name suggests, doctorpreneurs are health and medical professionals who have become involved in the fields of entrepreneurship, innovation, and/or tech. They have identified a need – usually from their own firsthand experiences – and ventured on to create an innovative solution to fill that void.
These individuals work toward implementing the changes they want to see in their respective fields. They are disrupting the healthcare industry by solving medical problems through creativity and originality.
Really and truly, they’re paving the way for a better future.
How Doctorpreneurs are Changing the World
Harvard Business Review argues that doctorpreneurs are “not just medical experts; they also have other qualities that make them effective leaders.” As such, they’re essential in finding and solving the problems of the healthcare industry.
1. Doctorpreneurs have the health know-how.
They have years of education and training that make them experts and credible resources in the field. This then enables them to make informed decisions when implementing innovative strategies.
And entrepreneurs now recognize that. They understand that physicians have insight that is crucial in ensuring products and services become successful in the market.
That’s why getting doctorpreneurs involved in the development of a medical business increases the opportunities for that business and its offerings to be well-adopted by the market.
More importantly, doctorpreneurs are determined to offer the fruits of their knowledge, skills, and experiences to the greater public in a way that is accessible and affordable. They’re bringing the best of every world.
2. Doctorpreneurs are problem-solvers.
They are business-savvy professionals who are determined to find new and inventive solutions to long-running problems. They build a business from scratch, from a need or struggle that they themselves (or their patients) have experienced. And they want to be part of the solution.
Doctorpreneurs believe that they can use their professional training to cater to people’s needs as much as possible. Whether it’s by offering every possible vaccine in the country, making drug testing accessible for all, or providing support to those living too far from medical centers, they are driven by their compassion to help out others first.
3. Doctorpreneurs are multi-passionate creative thinkers.
Beyond medicine, doctorpreneurs have various hobbies, interests, and talents that they find engaging and worthwhile. And they are motivated to bring these together with their medical expertise to advance healthcare technologies and enhance their patients’ experiences.
Some may take on writing or speaking engagements around major healthcare issues. Others might embark on initiatives with corporations to improve the efficiency and organizational process in the medical field.
Regardless of what they venture in, doctorpreneurs understand that business is essential in delivering high-quality and affordable healthcare, and vice versa.
Advice for Aspiring Doctorpreneurs
As with all things in business and in life, becoming a doctorpreneur requires determination, perseverance, and patience. You might encounter a wall, climb over it, and immediately discover yet another. But once you see that your idea is coming to life and you’re fixing a problem in the industry, you’ll remember why you embarked on this journey in the first place.
Here are some tips for medical students and professionals looking to explore the path to doctorpreneurship:
There are a lot of untapped opportunities in different medical fields. Talk to patients about their pain points, and ask them how they can be better treated. Engage in relevant conversations with your colleagues.
Keeping an open mind will help you link together other people’s struggles with your passions in order to contribute to the greater good.
Be a student of business.
Consider taking online business courses to help elevate your knowledge. Attend conferences, lectures, and networking events on your interest fields. Pay close attention to business matters like capital spending, finances, management processes, and market trends – all of which are vital in establishing and scaling a business.
Remember, there are countless sources of knowledge out there, so the learning does not and will not stop.
Having the right support can go a long way. That’s why it helps to take part in community groups with people who have similar goals and passions as you do.
One such community is Doctorpreneurs, a global non-profit organization that aims to transform healthcare through entrepreneurship and innovation. It connects members to networks and accelerates their entrepreneurial journey through relevant opportunities.
Likewise, explore Matter, a community of healthcare innovators that helps doctorpreneurs from start-up incubation to corporate innovation. It also connects them to potential customers, investors, partners, and sponsors.
The AMA Physician Innovation Network, a platform that pairs physicians and entrepreneurs, is another excellent program. It enables physicians to choose companies to collaborate with, while they receive expert input on their offerings. It’s a win-win.
Doctorpreneurs are changing the medical industry and the world – one smart and impactful innovation at a time. They have the training and expertise to develop something inventive. They are driven by their compassion and need to help solve others’ struggles. And their various passions influence them to think outside of the box.
If you’re looking to become a doctorpreneur, I say go forth and explore it. It may seem like a simple idea now, but you’ll never know where it will lead you. You just might be surprised at how much it can change the world.