ANALYZING THE IMPACT OF COVID-19 CRISIS ON THE BUSINESS MODEL OF THE HEALTHCARE SYSTEM IN INDIA: A SYSTEMATIC REVIEW
Mohammed Aslam Khan*
ABSTRACT
In light of the current COVID-19 crisis, healthcare systems face a variety of challenges in a complex and fast-changing environment. The COVID-19 pandemic tremendously challenged governments, society, and businesses worldwide. While some industries suffered from minor consequences, the healthcare sector has suffered the most with its limited resources and sudden rise in workload. The COVID-19 crisis enforced a massive shift to the delivery of society‘s important services, such as healthcare services. Moreover, the lockdown has changed how health care providers will offer primary healthcare services in the future, given the new rules and regulations concerning social distancing. Given this severe and still ongoing crisis, healthcare sectors are in need to change, and further support a new business model. This paper aims to gain insights into which type of business models the healthcare system has adopted as a means to respond to the disruption. These insights regarding business models are then explored to critically review the role of innovation in the business model and redefinition of business model innovation of healthcare system during COVID-19 pandemic. The paper performs a systematic literature review on the published article and analyses the impact of the COVID-19 crisis on the business model, and proposes measures to innovate the business model in the healthcare system. The paper concludes with recommendations on alternative methods to minimize the impact.
Keywords: Business Model; Business Model Innovation; COVID-19; Healthcare; India.
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