Joanne Thanavaro, DNP Rebecca Lorenz, PhD Jerome Katz, PhD

Saint Louis University

•  Identify opportunities for inter-professional collaboration that ultimately lead towards creation of new health care models •  Recognize the importance of inter-

professional partnerships •  Identify areas for supporting DNP

students to develop the spirit of entrepreneurship

•  Merriam-Webster: “one who organizes, manages and assumes the risks of a business or enterprise.” •  Dictionary.com: “a person who organizes and manages any

enterprise, especially a business, usually with considerable initiative and risk.” •  The Coleman Foundation's definition of Entrepreneurship as coined by

John E. Hughes: “Self-employment through business ownership which has significant elements of risk, control and reward.”

•  1. Business Focus •  2. Confidence •  3. Creative Thinkers •  4. Delegators •  5. Determination

•  6. Independent •  7. Knowledge-Seeker •  8. Promoter •  9. Relationship-Builder •  10. Risk Taker http://businessjournal.gallup.com/content/168527/talents-drive-entrepreneurial-success.aspx?

• Passion • Positivity • Adaptability • Leadership • Ambition

•  Is there a learnable and teachable “core: to entrepreneurship?

• Why it’s the best time in history to be a healthcare entrepreneur

Craig (2014). Forbes Wilson, Whitaker & Whitford (2012). OJIN.

•  Rising to the Challenge of Health Care Reform & Entrepreneurial Nursing Initiatives

•  Examples of healthcare entrepreneurs

•  Coleman Fellows Program • 200+ Fellows nationally • 20 Fellows at SLU • Teaching entrepreneurship across the campus • Provides financial & topical support for Fellows

•  SLU’s Entrepreneurship Program • USNews rank: 14 (undergrad), 14 (MBA) • #2 Textbook: Entrepreneurial Small Business •  Innovations: co-taught, practical, networked

•  Seed entrepreneurial thinking in all disciplines •  Help faculty think & behave entrepreneurially •  Connect like-minded faculty •  Connect faculty to resources

•  See & measure impacts: before & after •  Share via website & online affinity groups

•  Entrepreneur module developed and incorporated into an existing course (Leadership in Health Care) •  Basic premise: • If the DNP students are provided with the knowledge needed to develop a business and marketing plan, then students who take this course will have a greater likelihood of establishing an independent practice (entrepreneurship) or implement new health care delivery models within the existing health care delivery system (intrapreneurship).

• Clinician • Educator • Health Care Leader

• Communication and relationship management • Professionalism • Leadership • Knowledge of the healthcare system • Business skills and knowledge

Garman & Johnson, 2006.

•  Communication and relationship management •  Demonstrate the ability to communicate clearly and concisely •  Facilitate constructive interactions with individuals and groups

•  Professionalism •  Demonstrate the ability to align personal conduct with ethical and professional standards •  Discuss the importance to engage in lifelong learning

•  Leadership •  Differentiate the leadership styles needed for various situations encountered in the health care setting •  Establish a clear vision, long and short-term goals for their career and professional life •  Identify mentor(s) to provide guidance for further development of competencies after graduation

•  Business skills and knowledge •  Define entrepreneurship from a health care perspective with a focus on the elements of risk, control and reward that

are inherent in self-employment •  Develop skills to analyze entrepreneurial ideas for various health care setting including basic business principals. These

include financial management human resource management, organizational dynamics and governance, strategic planning and marketing, risk management, and quality improvement

•  Demonstrate skill in planning, evaluating, and determining sustainability of entrepreneurial endeavors in health car

• Realistic business simulation • Synchronous and asynchronous multiplayer experiences

•  70 hours spent with a nurse leader who work in a health care setting • Goal and objectives • Reflection paper

• A business plan presentation • A written business plan that demonstrates mastery of the

course material

• Online program demands the use of technology to create a virtual classroom • Presentation is designed to convince investors that they

want to financially support this new business

•  Life Enhancement Center •  Equine facilitated mental health therapy •  Hippotherapy to improve strength and functioning •  Canine program

•  Women’s Care Center •  Medical Home •  Independent Intensivist NP practice •  After-hours primary and urgent care clinic •  Concierge health care

•  Unexpected events •  Incongruities •  Process need • Market changes •  Demographics •  Changes in perception • New knowledge

• ACA opens opportunities in ways we can’t even begin to understand yet!

•  Ansoff Matrix: 4 ways to grow

•  Four ways to imagine growing your practice • Product Development – “next-step” services • Diversification – taking on services from others • Market Penetration – finding more patients • Market Development – finding new types of patients

•  Diamond in the Rough •  Entrepreneurship Diplomate •  Idea to Product (I2P) •  The ‘Real’ Elevator Pitch Competition •  Billiken Angel Network Pitch & Catch Competition •  Billiken Angel Network Business Plan Competition •  Innovation Challenge •  SPICE Series

Creating an entrepreneurial spirit!