NURSING ENTREPRENEURSHIP

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NURSING ENTREPRENEUR Presented By: Mr. Kishanth Olive., RN RM., M.Sc (N) Lecturer, Department of Psychiatric Nursing, College Of Nursing, JIPMER, Puducherry – 605006. Email: kishantholive@gmail.com

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SPECIFIC OBJECTIVES At the end of the lecture, the group will be able to.... describe entrepreneurs, nurse entrepreneurs and nurse intrapreneur. enumerate the history of nurse entrepreneurs. discuss about innovation and entrepreneur. describe about nursing entrepreneur. list out the skills of nurse entrepreneur. enlist the scope of entrepreneurial practice.

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SPECIFIC OBJECTIVES Cont.. enumerate the significance of nurse entrepreneur. discuss the domains of nurse entrepreneur. list out the services and work settings of nurse entrepreneur. enlist the entrepreneur functions. discuss the possible roles and services of nursing entrepreneur. List out the nurses' roles in entrepreneurship.

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INTRODUCTION Well there is Small but growing percentage of nurses is Reclaiming their traditional right to independent clinical practice. Nurses are expanding their roles and offering a range of services, with the focus primarily on health promotion, illness and accident prevention, rehabilitation and support services, but including clinical specialty practices and management consultancies. These nurse entrepreneurs are providing research-confirmed quality and effective care and establishing a public image as patient advocates, carers, counsellors and educators in addition to efficient clinicians.

NURSING ENTREPRENEUR :

DESCRIBE - ENTREPRENEUR Individual who assumes the total responsibility and risk for discovering or creating unique opportunities to use personal talents , skills and energy , and who employs a strategic planning process to transfer that opportunity into a marketable service or product. ENTREPRENEUR = A PERSON WHO RUNS HIS OWN “BUSINESS”

SPECIFIC OBJECTIVES:

DESCRIBE - NURSE ENTREPRENEUR A proprietor of a business that offers nursing services of a direct care, educational, research, administrative or consultative nature. The self-employed nurse is directly accountable to the client, to whom, or on behalf of whom, nursing services are provided.

SPECIFIC OBJECTIVES Cont..:

DESCRIBE - NURSE INTRAPRENEUR A salaried nurse who develops, promotes and delivers an innovative health/nursing programme or project within a given health care setting.

INTRODUCTION:

HISTORY OF NURSE ENTREPRENEURS FLORENCE NIGHTINGALE The first entrepreneur was Florence Nightingale. She started the first secular nursing training was in England in 1854. She made a worldwide change in health care. The word 'ENTREPRENEUR' is derived from the French word 'ENTERENDRE' that means 'to undertake'.

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HISTORY OF NURSE ENTREPRENEURS Con.. MARY GRANT SEACOLE She volunteered her services in the Crimean war effort. But , the Nightingale School of Nursing and the governing military forces rejected her. Undaunted , she started a hotel where the wounded soldiers on both sides were taken care and to recover conflict.

DESCRIBE - ENTREPRENEUR :

HISTORY OF NURSE ENTREPRENEURS Con.. CLARA BARTON She began her career during the U.S. Civil War. She established the Bureau of Records of Missing Army Men at her own expense to help families find their loved ones. In 1881, she founded the American National Red Cross.

DESCRIBE - NURSE ENTREPRENEUR :

INNOVATION AND ENTREPRENEUR

DESCRIBE - NURSE INTRAPRENEUR :

INNOVATION AND ENTREPRENEUR Innovation means a new idea applied to initiating or improving a product, process or services. - Stephen P. Robbins Entrepreneurs innovate . Innovation is the specific instruments of entrepreneurship. It is the act that endows resources with a new capacity to create wealth. Innovation , indeed, creates a Resource.

HISTORY OF NURSE ENTREPRENEURS :

INNOVATION AND ENTREPRENEUR Cont.. In the organizational context, innovation may be linked to performances, growth and development through improvement in efficiency, productivity, quality, competitive position, market, growth of market etc. All types of organizations can be innovated like, hospitals, universities and local government bodies.

HISTORY OF NURSE ENTREPRENEURS Con.. :

INNOVATION AND ENTREPRENEUR Cont..

HISTORY OF NURSE ENTREPRENEURS Con.. :

INNOVATIVE AND ENTREPRENEUR PROSPECT Innovation is always based on process needs: Needs , Wants, Desire and Expectation of the Society or Environment. Changes in industry structure or market structure: That Catches everyone unawareness and attention. Identified the awareness. The second set of sources for innovation opportunities , a set of these, involves changes outside the enterprise or industry.

INNOVATION AND ENTREPRENEUR:

INNOVATIVE AND ENTREPRENEUR

INNOVATION AND ENTREPRENEUR:

NURSING ENTREPRENEUR

INNOVATION AND ENTREPRENEUR Cont..:

DISCUSS - NURSING ENTREPRENEUR Nurse Entrepreneurs use their nursing education and business background to start ventures within the healthcare industry — establishing , promoting and running their own companies. Nurse Entrepreneur may provide direct patient care, equipment's, consulting services , counselling and education services as it relates to nursing while assuming inherent risks of business accountability . Some develop medical devices, computerized systems (NLS ), Career Guidance, HR consultants, and Home health products.

INNOVATIVE AND ENTREPRENEUR PROSPECT :

SKILLS OF NURSE ENTREPRENEUR Creativity, Business savvy, Ability to find funding and Identify a nice market, as well as a consistent customer base.

INNOVATIVE AND ENTREPRENEUR:

SCOPE OF ENTREPRENEURIAL PRACTICE Health sector allows for a wide range of activities in which nurses may potentially become professionally self-employed and experts. Basically, nursing entrepreneurship involves nurses owning and selling , products and/or services: Nursing services, Health care products and devices: Development (NLS Software, Websites (Rn pedia, Current Trends etc.,) Assessment Sale Legal services, Health care/policy consultation, and Health care/policy publications.

NURSING ENTREPRENEUR:

PROFILE OF A NURSE ENTREPRENEUR - CHARACTERISTICS OF NURSE ENTREPRENEURS PERSONAL QUALITIES Strong self-image and self-confidence, need for achievement Risk taker C reative, shows initiative Visionary Self-disciplined I ndependent, goal oriented A ble to deal with failure, and uncertainty Displays integrity, reliability, patience, enthusiasm Good organizer, planner Proactive

DISCUSS - NURSING ENTREPRENEUR:

PROFESSIONAL QUALIFICATIONS Work experience in nursing (3 - 15 years); Degree or Post-basic education and More.. Competent in communication, negotiation, marketing, Time management, public relations and accounting skills, Knowledgeable in legal, insurance, grants and tax matters. PROFILE OF A NURSE ENTREPRENEUR - CHARACTERISTICS OF NURSE ENTREPRENEURS Cont..

SCOPE OF ENTREPRENEURIAL PRACTICE:

SERVICES AND WORK SETTINGS OF NE Nurse entrepreneurs have used the liberty of independent practice to explore innovative approaches to health care delivery, Applying promotion and prevention techniques as well as treatment skills to different degrees. In most countries, self-employed nurses are legally permitted to offer any service that falls within the practice of nursing and does not infringe on the legislated responsibility or the exclusive practice of another health discipline. Their roles, services and work settings vary with public demands and country to country.

PROFILE OF A NURSE ENTREPRENEUR - CHARACTERISTICS OF NURSE ENTREPRENEURS:

SERVICES AND WORK SETTINGS OF NE Cont.. Applying the Nursing Process often facilitates translating nursing education, expertise and experience into a business. First an assessment of Personality, Nursing experience and health care needs is required to determine what business options are possible. Then a plan must be developed providing a step-by-step procedure for how the business will be established taking into account:

PROFILE OF A NURSE ENTREPRENEUR - CHARACTERISTICS OF NURSE ENTREPRENEURS Cont..:

Who are the customers ? Who are the competitors? – SWOT Analysis. What will customers require from the business? What are the start-up costs? (Funding and its Types) What business structures are needed? Sole, Limited, General Partnership, Cooperation, Non profit cooperation, Trust, joint venture, Association Etc., When will the services/products be required? (Time Frame) What advantages will this business have over the competitors? SERVICES AND WORK SETTINGS OF NE Cont.. Clients needs will be professionally and personally FULFILLED

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ENTREPRENEUR FUNCTIONS Innovation. Risk taking. Recruitment. Raising Fund. Project Planning. Product Analysis. Business Decision. Feasibility Analysis. Analysis of assessment of risk. Organization and Management. Developed Entrepreneurial development programme. When they perform in organization that is called Entrepreneurship.

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POSSIBLE ROLES AND SERVICES OF NURSING ENTREPRENEUR

SERVICES AND WORK SETTINGS OF NE:

Clinician Educators Consultant Therapist Researcher Case manager Supervisor Owner Partner Employer Secretary Accountant Receptionist Marketing consultant Nurse entrepreneur assumes a MULTITUDE OF ROLES directly linked with the professional and business aspects of the practice.

SERVICES AND WORK SETTINGS OF NE Cont..:

Clinician Health assessments Direct nursing care Health maintenance Hospice care Care of the chronically ill Specialist care: midwifery, stoma, diabetes, dialysis, palliative, etc. Occupational health School health Referral service Educators Health promotion: stress reduction Well-child consultations Prevention Programmes : Sex/child/drug abuse, juvenile delinquency, violence, accident, etc. Guidance and C ounselling Continuing education programmes Family planning and Women’s health First aids.

SERVICES AND WORK SETTINGS OF NE Cont..:

Consultant Management consultancy Occupational health consultancy Human resources planning consultancy Counselling and support Therapist Psychotherapy Respiratory therapy Researcher Projects aimed at improving health services and/or the health status of a target population. Case manager Coordination of services Patient advocacy Supervisor Management of personnel Personnel development Owner Provider of locale Facility/architectural/space planning Partner Responsibility sharing Reinforced creative approaches to health care

ENTREPRENEUR FUNCTIONS:

Employer Provider of health services Quality assurance monitoring Distribution of supplies and/or equipment Development of health products/ techniques/procedures. Resources planning, management and development. Management of the work environment. Strategic planning Secretary Correspondence Record keeping Accountant Book keeping Tariff/fee development Financial accountability: Tax, legal, benefits (pension, insurance), personnel, etc.

POSSIBLE ROLES AND SERVICES OF NURSING ENTREPRENEUR:

Receptionist Preliminary and ongoing contacts with potential and actual clients. Triage Marketing consultant Market research Development of business presentation: logo, stationery, announcements, publicity, etc.

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NURSES' ROLES IN ENTREPRENEURSHIP Supervisor Market analyst Case Manager Researcher Therapist Consultant Teacher Clinician Receptionist Accountant Secretary Employer Partner Owner

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REFERENCES Primary References: Aiken, L, Clarke, S, Sloane, D, Sochalski , J, Silber, J. (2002). Hospital Nurse Staffing and Patient Mortality, Nurse Burnout, and Job Dissatisfaction. JAMA, 288:1987- 1993. Secondary References: Batre , C. (1990). Socializing Nurses for Nursing, Entrepreneurial Roles. Nursing and Health Care. 11(1), 35-37. Brent, N. (1989). The Home Health Care Nurse as, Entrepreneur: Exploring the Possibility of Establishing One's Own Home Care Agency. Home Health Care Nurse. 7(5), 6-7.

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THANK YOU

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