Meded Technopreneurship

Physician entrepreneurs play many roles and in many different segments of the US $4T sickcare economy. Some are technopreneurs, digital health entrepreneurs, medical practice entrepreneurs, social entrepreneurs and intrapreneurs. Others design and develop medical education technologies and the platforms and models to disseminate them i.e edupreneurs.

The medical education market size was valued at?USD 74.5 Billion?in 2020 and is projected to reach?USD 122.8 Billion?by 2027 at a CAGR of 7.60%.

Major factors driving the growth of medical education trends are:

• An increase in the privatization of medical schools, a rise in the number of medical schools, and a surge in the number of students seeking a medical education, are all contributing to the growth of the global medical education market.
• The increasing need for digitalization in the education industry is expected to drive the medical education market. When compared to conventional learning methods, tablet-based, multimedia-enhanced training is seen to improve medical examination results.
• Emerging countries are investing in healthcare infrastructure to improve healthcare quality. The increasing infrastructure will trigger the hiring of additional medical personnel. Thus, the worldwide medical education market is projected to benefit as a result of this.
• Projected workforce shortages
• The rising costs and time to educate and train people
• Changing market dynamics and personas
• Pandemic induced threats and opportunities
• A shift away from rote memorization to problem based, project based, simulations and group learning
• Incorporating technologies like AI, extended reality and haptics and the Medaverse into medical education technologies
• New CME business models and accreditation criteria
• The demand for diversity, equity and inclusive access to medical education and training.
• Giving students the knowledge, skills, abilties and competencies they need to do what they want to do, not what schools want them to do.

In addition, edupreneurs are offering new ways to educate and train sickcare professionals that use these new technologies. Here are some recent advances in edupreneurship.

New medical schools are rethinking the curriculum map and existing schools are likewise reforming their curriculum and learning objectives.

But, like all new ventures and products, yours is likely to fail. Here is a tool to help prevent that from happening.

Here is what I learned teaching 1st year medical students entrepreneurship at the University of Colorado and to MBA/HA students.

Here is a list of recently created care innovation centers.

Here is a list of patient education firms.

Whether it be CME, patient education, educational technologies, curriculum reform, non-traditional platforms or assessment and evalution, opportunities abound for physician edupreneurs to solve many vexing problems that are interfering with our ability to address the medical needs of patients and international communities.

Arlen Meyers, MD, MBA is the President and CEO of Society of Physician Entrepreneurs