Franchise
Franchise (medicine)
Franchise (pronounced: /ˈfran(t)SHīz/) is a term that, while not traditionally associated with medicine, has found its place in the field in the context of healthcare services and business models.
Etymology
The term 'franchise' originates from the French word 'franchir', meaning 'to free', and was used in the context of granting rights or privileges. In the modern context, it refers to a business model where a franchisor grants the right to a franchisee to operate a business using the franchisor's established model and brand.
Medical Franchise
A Medical Franchise is a business model where a healthcare professional or entity is granted the right to operate a healthcare service under the brand and model of an established healthcare provider or organization. This model has been increasingly adopted in various healthcare sectors, including pharmacy, dental, and optical services.
Related Terms
- Franchisor: The entity that grants the franchise.
- Franchisee: The individual or entity that is granted the franchise.
- Franchise Agreement: The legal contract between the franchisor and franchisee outlining the terms and conditions of the franchise.
- Royalty Fee: A fee paid by the franchisee to the franchisor, usually a percentage of the franchise's revenue or profit.
See Also
External links
- Medical encyclopedia article on Franchise
- Wikipedia's article - Franchise
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