The Digital Disruption Model: Redefining the Healthcare Sector with Innovation

Abstract

With innovations and developments in virtual reality as well as artificial intelligence, machine learning, robotic process automation, the use of biosensors in mobile technologies etc., healthcare executives are seizing the required benefits for patients. The introduction of new business models by start-ups is causing considerable disruptive innovation, and with investments totaling US$ 679 million in 2018, the future appears bright. However, there is very little literature available on this phenomenon. This study focuses on instigating the discussion in the healthcare sector of India on the field of digital and disruptive innovation to spot what sort of agents of disruption can help policymakers make informed decisions. The scope of the study includes understanding the usage of this disruption, typically by the startups operating in the field of healthcare and so on. Further investigation found ventures from these companies in a digital context can be examined using the criteria of value for cost towards health services, the presence of a robust and sustainable business model, and a platform for customer-centric solutions. The approach was to see patterns that could show incumbents in the industry relying more on sustainable innovation and creating enough space to allow spectacular usage in the future with due changes in their traditional setups.