Innovation and Entrepreneurship in Healthcare

Innovation and Entrepreneurship in
Healthcare
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Table of Contents
Table of Contents.............................................................................................................................2
INTRODUCTION...........................................................................................................................3
QUESTION 1..................................................................................................................................3
Relevant health and social care legislation and policy initiatives provided RMBC with the
impetus to invest in telecare program..........................................................................................3
QUESTION 2..................................................................................................................................4
Impact of legislation and policy initiative of the innovation and entrepreneurship of RMBC. . .4
QUESTION 3..................................................................................................................................5
Characteristics of innovation and entrepreneurship along with application of it to RMBC
innovation....................................................................................................................................5
QUESTION 4..................................................................................................................................7
Different types of pivots in the entrepreneurial life cycle and their application to RMBC's
initiative.......................................................................................................................................7
QUESTION 5..................................................................................................................................8
Value proposition risks of telecare program................................................................................8
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9
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INTRODUCTION
Innovation and entrepreneurship in healthcare is a way and process of creating value in
digital health products (Carroll and et.al., 2019). This study is about developing telecare program
that is also innovative via which patients can receive timely treatment and can protect against
getting affected from severe disease.
QUESTION 1
Relevant health and social care legislation and policy initiatives provided RMBC with the
impetus to invest in telecare program
National regulations for medical devices: This legislation in innovation and
entrepreneurship is being developed for enabling patients easy and safe access to innovative
medical devices. If all rules are being followed by RMBC while implementing telecare program,
then it can protect patients from getting affected from unsafe devices. This regulation is being
also developed for ensuring public health benefit, safety of patients, community and health
workers. New European medical device regulation can also make RMBC in accomplishing their
goal with proper measurement and clinical trials of its initiative.
Health profession act: This act and legislation is mainly developed for encouraging
innovation in healthcare (World Health Organization, 2020). As per this. the main responsibility
of healthcare professions is to ensure quality of healthcare services, provided to patients. So, by
clinical trials and ensuring that model, that is being developed by RMBC is ethical and safe for
patients use, it can make its initiative successful.
HITECH Act: It is known as health information technology for economic and clinical
health. It is also relevant to innovation and entrepreneurship in healthcare. The main aim of
developing this act is to promote adoption as well as appropriate use of health information
technology as per the HHS website. It is essential for RMBC to implement and follow all rules of
this regulations because it can ensure patients that their data, information are safe with healthcare
providers. The main role and aim of following this legislation is to determine by healthcare
providers that they are compliant with privacy and security of all information of patients that
they are storing and maintaining via technology (Adler-Milstein and Jha, 2017).
Also, as per the guidelines and rules of this legislation, it is important for healthcare
professionals to inform patients and notify them about unauthorized access. So, by teaching all
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