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The Value of Innovation and Venture Exposure during Clinical Training
Andrew Parambath1, Korlekuor Akiti2, Sherman Leung1
1Resident, Emergency Medicine, Stanford Medicine, Stanford, CA, USA.
NEJM Catalyst Innovations in Care Delivery
|July 8, 2026
Summary
Physician training needs to include innovation and venture education to equip doctors with skills for health care business development. This prepares them to lead and influence the future of health care delivery effectively.
Area of Science:
- Health Care Innovation
- Medical Education
- Biotechnology Entrepreneurship
Background:
- Technological advancements are transforming healthcare delivery and fostering innovation.
- Physicians are increasingly involved in launching health care companies, with over 25% of high-valuation health tech companies founded by clinicians.
- Traditional clinical training often lacks comprehensive preparation for physician engagement in business and innovation initiatives.
Purpose of the Study:
- To advocate for the integration of innovation and venture education into clinical training programs.
- To define "innovation and venture education" as opportunities that equip physicians with essential skills for health care innovation.
- To outline practical strategies for institutions to foster these skills in physicians.
Main Methods:
- Literature review of current trends in health care innovation and physician entrepreneurship.
- Analysis of existing formal educational pathways and hands-on training opportunities.
- Conceptual framework for innovation and venture education tailored for physicians.
Main Results:
- A significant percentage of successful health care companies have clinician founders, highlighting a gap in formal training.
- Key skills for innovation include problem identification, user-centered design, financing, and systems thinking.
- Existing programs are expanding, but hands-on experience during training remains limited.
Conclusions:
- Integrating innovation and venture exposure into clinical training is crucial for physicians.
- Physicians need to develop transferable skills to effectively contribute to health care innovation.
- Preparing physicians for roles beyond traditional clinical settings is essential for shaping the future of health care.
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