• Title/Summary/Keyword: Healthcare Business

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The Necessity of Business Intelligence as an Indispensable Factor in the Healthcare Sector

  • KANG, Eungoo
    • The Korean Journal of Food & Health Convergence
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    • v.8 no.6
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    • pp.19-29
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    • 2022
  • Business intelligence (BI) is a process for turning data into insights that inform an organization's strategic and tactical decisions. BI aims to give decision-makers the information they need to make better decisions Patient safety analysis, illness surveillance, and fraud identification are just a few healthcare decision-making processes that can be supported by data mining. Thus, the purpose of the current research is to outline the need if BI as an essential factor in the healthcare sector by reviewing various scholarly materials and the findings. The present author conducted one of the most famous qualitative literature approach which has been called as PRISMA (Preferred Reporting Items for Systematic Reviews and Meta-Analysis) statement. The selecting criteria for eligible prior studies were estimated by whether studies are suitable for the current research, identifying they are peer-reviewed and issued by notable publishers between 2017 and 2022. According to the result based on the PRISMA analysis, BI plays a vital role in the healthcare sector and there are four business intelligence factors (Data, Analytic, Reporting, and Visualization) that will ensure that the healthcare sector provides the right healthcare services to the customers to be addressed in this section include; data, analytics, reporting, and visualization.

Entering Uncharted Territory: Ownership of Healthcare by Business Corporations

  • Kim, Dongho;Youn, Myoung-Kil
    • Asian Journal of Business Environment
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    • v.9 no.1
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    • pp.29-31
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    • 2019
  • Purpose - The aim of this paper is to examine the newly formed a partnership of Amazon, Berkshire Hathaway (Berkshire) and JPMorgan through the lens of strategic alliance, corporate philanthropy, and corporate social responsibility. Research design, data, and methodology - This is an analytical case study that examines the existing scholarly articles in strategic alliances, corporate philanthropy, and corporate social responsibility to explain the recent strategic alliance. Results - There is a clear limitation in explaining this type of unconventional strategic alliance with exiting definitions and concepts because there is no existing study or case available today. Forming a strategic business alliance to create and operate healthcare for their domestic employees could be viewed as a social innovation that resulted from an effort to resolve a social problem, the ineffective healthcare system in the U.S., rather than focusing on business benefits and profits. Conclusions - The success or failure of this type of business alliance would certainly affect the current healthcare system of the United States and global businesses and healthcare industries in the future. However, just entering or tapping into uncharted territory by these three companies to deal with a social issue is significant enough to merit further exploration and analysis for scholars and practitioners.

A Study on the status of Healthcare Market and Healthcare Facilities Infrastructure in Emerging Countries (신흥국의 의료시장 및 의료시설 인프라현황에 관한 조사연구)

  • Nam Gung, Jin;Lee, Sang-Ho
    • Journal of The Korea Institute of Healthcare Architecture
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    • v.18 no.1
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    • pp.7-14
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    • 2012
  • In this study, the status of healthcare infrastructure in foreign countries was investigated for a Korean healthcare business planning to expand its business to these countries. Countries selected and surveyed are China, India, Indonesia, and the Middle East. When the surveyors visited the hospitals, the hospital facilities were investigated and medical professionals were interviewed to scrutinize the healthcare conditions in the hospitals. Also studied are healthcare related laws, trend of healthcare policies, hospital operations, medical staffing, and global healthcare service providers. Korea has expanded their overseas healthcare market only to small-sized hospitals and clinics. In order to keep up with global market expansion in the healthcare domain, strategic marketing is required. Especially, the most important key for overseas marketing is to make a synergizing system among hospitals, construction companies, medical equipment providers and IT solution providers. For the next step, the in-depth study will be conducted through real projects in the target countries per type of business.

Workflow Engine for Mobile-Based Healthcare System

  • Lee, Sang-Young
    • Proceedings of the CALSEC Conference
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    • 2005.03a
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    • pp.125-129
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    • 2005
  • The recent push for healthcare reform has caused healthcare organizations to focus on ways to streamlined processes in order to secure high quality care as well as reducing costs. Healthcare enterprises involve complex processes that span diverse groups and organizations. These processes involve clinical and administrative tasks, large quantities of data, and large number of patients and personnel. We propose the mobile-based workflow system of passable communication as an important factor in the B2B healthcare. Based on the above proposal the workflow system of business process was designed and implemented on the basis of Java, UML and XPDL.

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Establishment and Application of a Comprehensive Business Model Framework : Focusing on Healthcare Business Models (포괄적 비즈니스 모델 프레임워크 구축 및 적용 : 헬스케어 비즈니스 모델을 중심으로)

  • Yeon, Younghee;Lee, Baekhee;Kim, Eunha;Park, Boyoung;You, Heecheon
    • Journal of Korean Institute of Industrial Engineers
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    • v.41 no.6
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    • pp.530-539
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    • 2015
  • A business model (BM) can be developed based on a business model framework (BMF) consisting of key components such as value proposition, customers, and resources. To systematically generate and analyze emerging BMs such as healthcare BM, an integration of diverse BMF components is needed. The present study is to establish a comprehensive BMF and evaluate its applicability to healthcare BMs. Based on a review of eight BMF studies, ten BMF components were identified and classified into five major components (value proposition, resources, organizing model, customers, and revenue model) and five minor components (technology, service platform, delivery, competitive strategy, and growth/exit) by analyses of frequency and functional importance. Lastly, the BMs of three emerging healthcare companies (WellDoc, Inc., CFW Shops, and Aravind Eye Care System) were analyzed and compared in terms of the proposed BMF components. The comprehensive BMF components presented in the study can be of help for developing new BMs and analyzing the strengths and weaknesses of BMs.

The relationship among ESG management activities, financial performance and technological innovation in healthcare companies (헬스케어 기업의 ESG경영활동에 따른 재무성과 및 기술혁신 관계)

  • Peng Wang;Chang Won Lee
    • Korea Journal of Hospital Management
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    • v.28 no.2
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    • pp.66-78
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    • 2023
  • Purposes: This study explored the difference analysis of financial performance and technological innovation according to the ESG management activities of healthcare companies based on the time before and after the mandatory ESG management reporting of listed Chinese healthcare companies in China. Methodology: This study collected ESG management activities, corporate financial performance, and technological innovation data of Chinese listed healthcare companies by using Bloomberg Database and China-listed company reports to collect data for analyzing differences between groups through T-test. Findings: ESG activities in the healthcare industry have a certain impact on corporate financial performance, but have no impact on corporate technological innovation. Like the world trend, the ESG activities and financial results of China's healthcare industry have shown a positive development direction in recent years, and ESG scores are rising. Practical Implication: Since 2018, ESG activities in China's healthcare industry have flourished, and ESG activities and financial performance have developed in a positive direction.

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Impacts of Transparency and Disclosures on Firm Valuation of the Healthcare Sector in India

  • Saumya, SINGH;Pracheta, TEJASMAYEE;Venkata Mrudula, BHIMAVARAPU;Arpita, SHARMA;Rameesha, KALRA;Sanjeev, KADAM;Poornima, TAPAS;Shailesh, RASTOGI
    • The Journal of Asian Finance, Economics and Business
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    • v.10 no.2
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    • pp.153-161
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    • 2023
  • This study's principal goal is to find the interrelation between transparency & disclosure (TD) and the healthcare sector's firm valuation (FV). The paper uses the market-to-book (MTB) ratio and market capitalization as proxies, where sales measure act as a control variable. Dynamic panel data regression (PD) is the method applied for analyzing data. Data pertains to 10 healthcare companies gathered over five years (2016-2020). Results imply that TD has a negative and significant influence on the FV, where market capitalization acts as a proxy for valuation. This association indicates that a greater degree of TD diminishes FV. TD is also reported to have a negative and insignificant association with MTB. Therefore, TD does not influence FV. The findings of this paper have significant practical implications. Results can help policymakers determine mandatory disclosure levels that are not detrimental to the healthcare sector. Managers and analysts must also analyze the dimensions of disclosure that can negatively impact the firm's valuation and make decisions regarding TD accordingly. This is the first study to assess the influence of TD on the FV of the Indian healthcare sector, which makes it unique. This study is limited to the healthcare sector, which is its shortcoming.

Direction of Healthcare Expenditure on Research and Development (보건의료 연구개발비 현황과 발전방향)

  • Park, Eun-Cheol
    • Health Policy and Management
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    • v.28 no.4
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    • pp.327-328
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    • 2018
  • The quality of healthcare in Korea is very good, especially in life threatening disease. However, the level of healthcare research in Korea is not good relative to that of engineering. International university rankings also were showed that engineering was generally higher ranking than medicine. The reason of this phenomenon was deeply related to expenditure on research and development (R&D). Although Korea had a lot of gross domestic expenditure on R&D (GERD), 75% of GERD was from business enterprise that was related to engineering. Healthcare expenditure of R&D from business enterprise is small. Healthcare expenditure from government budget allocation on R&D (GBARD) was smaller than engineering. Higher education expenditure on R&D of GERD was also small and the quantity and quality of researcher in higher education was not enough. For Korea's healthcare to become the growth engine for future, GBARD should be invested heavily in the healthcare, a large part of the increased GBARD must be invested in higher education, and the higher education should invest to secure the higher quality researcher stably.

An Analysis on Role of Stakeholders for Security System in Smart Healthcare Environment (스마트 의료환경에서 보안체계 구축을 위한 이해관계자 역할 분석)

  • Kim, Yanghoon;Jeong, Wonwho
    • The Journal of Society for e-Business Studies
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    • v.24 no.1
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    • pp.17-27
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    • 2019
  • With the occurrence of the 4th Industrial Revolution, environmental change is happening in the healthcare industry as overall flow of Industry heads to ICT-based business environment. Healthcare Industry, which has the characteristic of public goods, is requiring a reliability and continuity of healthcare industry, however, the introduction of security is being delayed due to the problem of compatibility and extendability of existing system. Accordingly, in this research, we have built a section and role for stakeholders to be concerned in order to induce, analyze and introduce a needed security technology for rapidly building a security system in a smart healthcare environment. We have suggested a possibility of extendability regarding a multi-dimensional effort of stakeholders for establishing a healthcare security system.

The Assessment of Patients Satisfaction with Healthcare Services Provided in the Hawtat Bani Tamim During the COVID-19 Pandemic

  • Ahmed Saied Rahama, ABDALLAH;Mohammed Omar Musa, MOHAMMED
    • The Journal of Asian Finance, Economics and Business
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    • v.10 no.2
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    • pp.41-48
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    • 2023
  • This study aims to evaluate patients' satisfaction with healthcare services in Hawtat Bani Tamim Governorate during the spread of coronavirus. The importance of this study stems from the fact that Covid-19 is challenging countries all over the world. The study adopted a questionnaire for collecting the data. The sample size reached 231 members. The study applied descriptive statistics and inferential statistical methods to obtain the result of the study. The analysis of the data revealed that most of the participants are satisfied with the healthcare services in hospitals and health centers during the Corona pandemic, Health precautions and distancing measures were applied appropriately, Vaccination against corona was available in health centers and easy to access, and rapid response of health care service providers to patients' requests. The participant's opinions showed that the application of Mawid is a suitable method to access healthcare services during Corona, the application is more efficient in providing the required healthcare services and facilitating their access to healthcare services. In addition, patient satisfaction with the "My health" application provided fast and convenient services during the Corona pandemic and provided medical consultations easily.