Abstract
While traditional organizations create value within the boundaries of their firm or supply chain, digital platforms leverage and orchestrate a platform-mediated ecosystem to create and co-create value with a much wider array of partners and actors. Although the change to two-sided markets and their generalization to platform ecosystems have been adopted among various industries, both academic research and industry adoption have lagged behind in the healthcare industry. To the best of our knowledge current Information Systems research has not yet incorporated an interorganizational perspective of the digital transformation of healthcare. This neglects a wide range of emerging changes, including changing segmentation of industry market participants, changing patient segments, changing patient roles as decision makers, and their interaction in patient care. This study therefore investigates the digital transformation of the healthcare industry by analyzing 1830 healthcare organizations found on Crunchbase. We derived a generic value ecosystem of the digital healthcare industry and validated our findings with industry experts from the traditional and the start-up healthcare domains. The results indicate 8 new roles within healthcare, namely: information platforms, data collection technology, market intermediaries, services for remote and on-demand healthcare, augmented and virtual reality provider, blockchain-based PHR, cloud service provider, and intelligent data analysis for healthcare provider. Our results further illustrate how these roles transform value proposition, value capture, and value delivery in the healthcare industry. We discuss competition between new entrants and incumbents and elaborate how digital health innovations contribute to the changing role of patients.
Highlights
Health spending continues to consume large shares of public spending (OECD Stat 2020)
Research indicates multiple reasons why key stakeholders in healthcare have been slow to adopt health IT and leverage opportunities afforded by digital transformation (DT)—defined by (Vial 2019) as ‘‘a process that aims to improve an entity by triggering significant changes to its properties through combinations of information, computing, communication, and connectivity technologies’’—despite its promise for business value (DesRoches et al 2008; Hsia et al 2019)
The results indicate that during the digital transformation of the healthcare industry emerging organizations converted into 15 new market segments and 3 new data collection technologies
Summary
Health spending continues to consume large shares of public spending (OECD Stat 2020). Research indicates multiple reasons why key stakeholders in healthcare have been slow to adopt health IT and leverage opportunities afforded by digital transformation (DT)—defined by (Vial 2019) as ‘‘a process that aims to improve an entity by triggering significant changes to its properties through combinations of information, computing, communication, and connectivity technologies’’—despite its promise for business value (DesRoches et al 2008; Hsia et al 2019). In form of the Health Insurance Portability and Accountability Act. As a result of healthcare’s complexity and regulation, health information silos emerged and interoperability of health IT between key stakeholders is lacking, which hamper efficiency, undermine coordination of care, and increase costs (Gupta and Sharda 2013; Hansen and Baroody 2020; Kellermann and Jones 2013; McClellan et al 2013)
Sign-in/Register to view highlights & summary Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
