Affiliation:
1. University of Delhi, India
2. Jamia Millia Islamia, India
3. GLA University, India
Abstract
In the current dynamic era, outdated systems can easily stymie best-intentioned efforts. The healthcare industry, which at the behest holds best intentions towards the wellness of public, has been on its toes to keep systems updated. Innovations in healthcare, however, cannot be restricted to medical aspects only; it has been impacted by non-medical innovations as well. Among non-medical innovations, FinTech holds its own relevance, and events such as COVID-19 speak it all. The convergence of FinTech and the healthcare industry has been observed as a catalyst to deal with some of the most pressing concerns faced by the industry today. FinTech-driven changes that the healthcare industry has witnessed include enhanced customer engagement, better transparency, enhanced claim settlement experience, faster payment processing, and access to affordable insurance. The chapter aims to gain insights on FinTech; Fintech's importance, advantages and challenges; industry scenario; FinTech and healthcare association; and FinTech as game-changer in healthcare.
Reference36 articles.
1. Agarrwal, K., & Joshi, A. (2021, Mar 30). What Is Fintech? Retrieved May 5, 2024, from www.forbes.com: https://www.forbes.com/advisor/in/banking/what-is-fintech/
2. benefits of fintech-driven payments for global businesses. (2020, December 10). https://tranglo.com/blog/5-benefits-of-fintech-driven-payments-for-global-businesses/
3. Bhasin, J. (2024, March 5). Future of Fintech in Healthcare. Retrieved May 1, 2024, from https://health.economictimes.indiatimes.com/news/industry/future-of-fintech-in-healthcare/108219513
4. Vertical integration in health services: Theory and managerial implications
5. Fintech, financial inclusion and income inequality: a quantile regression approach