Entrepreneurs have been credited for driving change in all sectors of the American economy. There is no doubt that all the areas of the economy are presently witnessing favorable changes courtesy of forward-thinking entrepreneurs coupled with technology.
However, the healthcare industry lags behind other sectors. And Mike Townsend, in a piece published on TechCrunch, attributes the sluggish advancements in the healthcare sector to unreasonably many regulations, political interests, and counter-intuitive payment incentives. As a result, many smart entrepreneurs are shying away from the evidently lucrative industry.
The few entrepreneurs that join the American healthcare industry do so out of necessity. John Crowley is one such entrepreneur. Initially a manager, Crowley became part of the American healthcare sector because his two children were born with Pompe disease. At the time of their diagnosis, little information was available about the neuromuscular disorder. Crowley could no longer risk staying in management while his two children were at risk; he set out to find a cure for them. And just like that, he became an entrepreneur in the health sector, starting several healthcare companies such as Novazyme Pharmaceuticals, which he credits for ultimately saving his kids’ life.
While America celebrates Crowley for being a hero, the country should refrain from depending on entrepreneurs that make their way into the healthcare industry by chance. The government should deliberately initiate efforts to woo as many entrepreneurs as possible into the healthcare industry. Thanks to Aneesh Chopra for launching programs such Open Data Conference, Startup America, Argonaut Project, etc. designed to attract entrepreneurs, and by extension, innovation into the industry. Chopra was the first CTO of America.
He is a little-known figure that blends into the ranks of corporate America but has been instrumental in shaping the healthcare sector’s Electronic Medical Records (EMRs) development for over a decade. The University of Iowa College of Engineering graduate has held numerous positions in healthcare companies since he graduated in 2002. One of those companies is Nordic Consulting Partners where he was the president between 2011 and 2016. Under Madden’s tenure, Nordic’s expanded by an average of 8, 316 percent regarding revenues, employees, and partners.