What is clinical entrepreneurship?

Not everyone has the same desires when it comes to their career. However, there is one profession that often catches people by surprise: clinical entrepreneurship. Did you know by 2025, it is estimated that healthcare costs per person will rise to more than $16,000? The market for medical entrepreneurs will always exist. As the economy recovers and people’s needs grow, those working in this industry will have plenty to keep them busy. Clinical entrepreneurship is becoming increasingly important as we move toward a new model of care that prioritizes value over volume. It provides a way to monetize your ideas while also using them to improve patient outcomes and lower costs. It can also help you advance your career and increase your earning potential as an employee or contractor. Becoming a clinical entrepreneur requires more than an idea or business plan; it involves putting in the hard work and long hours necessary to make your business successful. This article will help you understand if entrepreneurship is right for you, what clinical entrepreneurship is, and how you can set up your own company as a Clinical Entrepreneur.

What is Clinical Entrepreneurship?

A clinical entrepreneur is a person who applies entrepreneurial skills to create and manage clinical ventures, such as setting up companies to provide clinical services or discovering new uses for drug discoveries. Clinical entrepreneurs may also be called clinical scientists, mainly if a university or other institution employs them. You don’t have to have your own business to be a clinical entrepreneur. You can work for someone else but still have the same skills and mindset as someone with their own business. Entrepreneurship is about taking an idea and seeing it through, even if you don’t own that idea.

Why Become a Clinical Entrepreneur?

Medical facilities in the U.S. have lost more than $202 billion due to challenges associated with the pandemic and other issues that affect healthcare providers today. This means that—if we want to improve the quality of healthcare in this country, especially by making it more cost-effective and sustainable—the healthcare industry itself needs to step up and save itself. And entrepreneurs are uniquely positioned to help accomplish this goal. Entrepreneurship is an excellent way to apply your skills and experience to create your path and control your destiny. Clinical entrepreneurship allows you to use your knowledge and expertise in healthcare in a new and exciting way to create value in a way that can impact many people. Many clinicians become entrepreneurs because they want to support the existing healthcare system by improving the patient experience and patient-provider experience. Clinical entrepreneurs can do this by creating tools, products or service-based healthcare businesses that make a difference in the world. A combination of disruptive innovation and technological advances can help spur recovery in an otherwise sluggish industry. Healthcare technology is evolving rapidly, making it difficult to get a firm handle on where the field stands today or what will happen next. You can apply your entrepreneurial spirit to improve health system challenges and leverage innovative technologies such as:

remote patient monitoring
artificial intelligence
digital therapeutics
internet of medical thing
technology in mental health
virtual reality
blockchain

With the help of these emerging technologies, healthcare professionals are able to revolutionize care for millions of people around the globe. Entrepreneurs must develop strategies that will help them bring new and valuable products, services, and concepts to the healthcare field.

The Path to Becoming a Clinical Entrepreneur

No one path leads to becoming an entrepreneur. Instead, there are different routes that each lead to a similar destination. If you’re interested in becoming a clinical entrepreneur, you need to start by deciding what kind of clinical entrepreneurship you’d like to pursue. The following are some of the most common fields for clinical entrepreneurship:

Bioinformatics: The study of computing and analyzing biological data.
Clinical research: Clinical research involves testing new drugs and procedures to ensure they are safe and effective.
digital therapeutics
Healthcare technology: Healthcare technology is any technology used in healthcare, such as medical devices, computer systems, and software.
Pharmaceuticals: Pharmaceuticals include medicines, drugs, and other products made from chemicals.

Tips for Clinical Entrepreneurship

Despite the challenges, becoming a doctor is no easier or harder than any other profession. But for anyone choosing an entrepreneurial path in life – it’s going to be tough. Let’s explore some tips before starting your journey as an entrepreneur.

Research Healthcare Market Although it is easier for a medical professional to build a business based on his knowledge and experience, any future entrepreneur in the field will need to do research into what’s already out there.

Find the right Investor No one can diminish the importance of investors who can help to promote your healthcare business.

Expand your network With a clear grasp of the business goals and market opportunities, you will be able to find investors interested in helping move your startup forward.

Business Ethics vs. Corporate Social Responsibility Healthcare today faces major issues, including a lack of affordable health treatment and services. This has led to the widening gap between rural areas and cities in medical professional availability.

Know Your Limitations Successful entrepreneurs understand the limitations of their businesses and work to overcome obstacles efficiently.

Highlight Your Strengths Medical entrepreneurs must determine the health industry’s goals and see that their strengths are put to use in reaching those lofty heights

Dr. Behrooz Behbod – The Entrepreneur’s Doctor, for instance, is a Harvard and Oxford trained public health and preventive medicine physician turned entrepreneur with more than 25 years of international experience in health, business, and education. Dr. Behrooz Behbod founded “The Entrepreneur’s Doctor,” after experiencing burnout. He dedicates his time to help other healthcare professionals turn their health expertise or lived experience into a thriving online business, so they can scale their impact and have the freedom to do what they love while working less. You can listen to his journey on

and meet more creative healthcare and digital health experts on “The pulse podcast,” Becoming a clinical entrepreneur requires creativity, ambition, and drive. It requires you to be able to take an idea or concept and make it a reality. You need to see potential in situations where others see only problems and challenges. Now that you better understand clinical entrepreneurship, decide which field you’d like to enter and follow the path outlined above and make you dream a reality.