Healthcare business is an industry that consists of everything to do with the healthcare sector. This includes healthcare facilities, pharmacies, healthcare apps, medical blogging, and much more. In a world where most people are troubled by some illness or the other, the healthcare business can be a profitable venture. In the US, the healthcare business is worth around $808 billion. If you are someone who wants to reap the benefits of this industry, there are various things you need to learn first. It is a competitive business, and requires thorough research before proceeding. To help you learn everything you need to know, we have compiled a list of the 5 best healthcare business books for you.
The 5 Best Healthcare Business Books
Below we have listed the 5 best healthcare business books. These books will help you come up with innovative ideas, teach you the skills required for a healthcare business, and much more. Moreover, these books are useful for those already working in this industry. Finally, we have also listed books that talk about investment in the healthcare business.
1. Home Healthcare Business Startup on a Budget By Cindy Grace
This book will cover every aspect of beginning an in-home care services business, including variations for professional and unskilled service providers. The author will walk you through the process of starting this company from the ground up, step by step. Once the company is formed, she will walk you through the process of growing and running it, including marketing, advertising, and dealing with employees.
The book discusses topics such as:
- What different levels of care encompass
- The different types of services your new agency might provide
- 8 steps for building your business
- How to gain clients through advertising and partnerships
- How to craft a solid business plan
Further, the author describes some true-to-life, real-world examples of what she is teaching you in action, using personal stories from those who have worked in this area.
2. Healthcare Disrupted: Next Generation Business Models and Strategies By Jeff Elton and Anne O’ Riordan
This book offers an in-depth examination of the disruptive forces driving change in the healthcare industry. Further, it acts as a guide for defining new operating and business models in reaction to these profound changes.
Based on original research, the book gives an insightful view of the state of the industry, what’s to come, and new emerging business models. Moreover, it provides businesses with options for adapting and remaining relevant, as well as four new business models that can drive long-term growth and performance. It shows how real-world data is combined with scalable technologies and advanced analytics to radically change how and where healthcare is provided, connecting to population health and expanding responsibility for both. Finally, it demonstrates how this shift in healthcare delivery will greatly improve patient outcomes and the value realized by health systems.
3. HBR’s 10 Must Reads on Strategy for Healthcare (featuring articles by Michael E. Porter and Thomas H. Lee, MD)
This book consists of the 10 most important articles from Harvard Business Review to help you catalyze your organization’s strategy development and execution in the healthcare sector. Leading strategy experts provide you with useful advice and insight in this book. Specifically, they discuss how the rules of corporate competition translate to the healthcare sector, and how you can create a vision for an uncertain future in this business. Further, they talk about how you can segment your market to better serve diverse patient populations. The articles discuss how you can get the best health outcomes and the lowest cost. Last but not least, you will learn what disruptive innovation means for healthcare.
4. The Business of Healthcare Innovation By Lawton Robert Burns
This book examines the trends in scientific innovation and business for each sector of the healthcare business. Further, it discusses the revenue models used to commercialize the innovations, and the regulatory issues within each domain. The author also discusses market structure and competition, the economics and reasoning for product development, pricing, and sales. Further topics include contract talks with buyers, alliances versus mergers, business strategies, and growth prospects, and much more. The book, written by Wharton School professors and industry executives, explains why healthcare sectors are such an essential source of growth in any nation’s economy.
5. Healthcare Investing: Profiting from the New World of Pharma, Biotech, and Health Care Services By Les Funtleyder
Health-Care Investing provides a thorough explanation of the industry’s massive size and complexity. Further, it talks about how you can use it to your advantage, as well as why healthcare is more resistant to changes in economic cycles than other markets. The author provides a comprehensive overview of the industry so you can make informed decisions.
Additionally, he gives you a detailed look at traditional market patterns and the events that have shaped the industry. You will also find specific strategies you can use to maximize your profits, whether you invest in pharma, biotech, managed services, or a combination of them. Lastly, this comprehensive and practical guide includes a questionnaire that will help guide your decision-making process.
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Conclusion
This article lists the 5 best healthcare business books. Healthcare business is a profitable one. More importantly, though, it is in the service of people. Like any business, it requires skills and knowledge, and the best way to learn these is from professionals in the field. Thus, we have compiled this list for you.