{"title":"Critical success factors of startups in the e-health domain","authors":"Imon Chakraborty , P.Vigneswara Ilavarasan , Sisira Edirippulige","doi":"10.1016/j.hlpt.2023.100773","DOIUrl":null,"url":null,"abstract":"<div><h3>Objective</h3><p>Though health-tech startups are increasingly bridging the affordability, accessibility, and quality gaps in healthcare through innovative solutions, only some sustain and become successful. Knowledge about the critical success factors (CSFs) is limited and shall be helpful for the stakeholders of health-tech startups. The present paper attempts to fill the gap.</p></div><div><h3>Methods</h3><p>We collected data through in-depth personal interviews with founders and other important stakeholders in India. The data were analyzed using Braun and Clarke's thematic analysis process. We also collected structured inputs from the interviewee to classify the identified CSFs. The Service-Technology-Organization-Finance (STOF) framework was used to guide the data collection and analysis.</p></div><div><h3>Results</h3><p>The thematic analysis of the interview transcripts revealed eighteen CSFs and five themes: actor's knowledge and communication process, service value and effectiveness, robust technological infrastructure, revenue generation ability, and regulation management capacity.</p></div><div><h3>Conclusion</h3><p>The delineated CSFs will guide the startups to understand various stakeholders' needs, market demands, regulatory compliance, and policy requisites. The present paper is the first of its kind to extensively examine the CSFs and adds to the knowledge about the health-tech startups' success. In light of the findings, the paper modifies the STOF framework and shares practical implications and future research directions.</p></div><div><h3>Public interest summary</h3><p>Health-tech startups are increasingly transforming the healthcare industry by leveraging technologies to improve patient outcomes, enhance the patient experience, and deliver value to all stakeholders. There is a need to identify the critical success factors to address the high mortality among these firms. The present research identifies the factors under five broad themes: actor's knowledge and communication process, service value and effectiveness, robust technological infrastructure, revenue generation ability, and regulation management capacity. The findings will help entrepreneurs, policymakers, and other stakeholders in the health-tech startup ecosystem.</p></div>","PeriodicalId":48672,"journal":{"name":"Health Policy and Technology","volume":null,"pages":null},"PeriodicalIF":3.4000,"publicationDate":"2023-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Health Policy and Technology","FirstCategoryId":"3","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S2211883723000497","RegionNum":3,"RegionCategory":"医学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"HEALTH POLICY & SERVICES","Score":null,"Total":0}
引用次数: 0
Abstract
Objective
Though health-tech startups are increasingly bridging the affordability, accessibility, and quality gaps in healthcare through innovative solutions, only some sustain and become successful. Knowledge about the critical success factors (CSFs) is limited and shall be helpful for the stakeholders of health-tech startups. The present paper attempts to fill the gap.
Methods
We collected data through in-depth personal interviews with founders and other important stakeholders in India. The data were analyzed using Braun and Clarke's thematic analysis process. We also collected structured inputs from the interviewee to classify the identified CSFs. The Service-Technology-Organization-Finance (STOF) framework was used to guide the data collection and analysis.
Results
The thematic analysis of the interview transcripts revealed eighteen CSFs and five themes: actor's knowledge and communication process, service value and effectiveness, robust technological infrastructure, revenue generation ability, and regulation management capacity.
Conclusion
The delineated CSFs will guide the startups to understand various stakeholders' needs, market demands, regulatory compliance, and policy requisites. The present paper is the first of its kind to extensively examine the CSFs and adds to the knowledge about the health-tech startups' success. In light of the findings, the paper modifies the STOF framework and shares practical implications and future research directions.
Public interest summary
Health-tech startups are increasingly transforming the healthcare industry by leveraging technologies to improve patient outcomes, enhance the patient experience, and deliver value to all stakeholders. There is a need to identify the critical success factors to address the high mortality among these firms. The present research identifies the factors under five broad themes: actor's knowledge and communication process, service value and effectiveness, robust technological infrastructure, revenue generation ability, and regulation management capacity. The findings will help entrepreneurs, policymakers, and other stakeholders in the health-tech startup ecosystem.
期刊介绍:
Health Policy and Technology (HPT), is the official journal of the Fellowship of Postgraduate Medicine (FPM), a cross-disciplinary journal, which focuses on past, present and future health policy and the role of technology in clinical and non-clinical national and international health environments.
HPT provides a further excellent way for the FPM to continue to make important national and international contributions to development of policy and practice within medicine and related disciplines. The aim of HPT is to publish relevant, timely and accessible articles and commentaries to support policy-makers, health professionals, health technology providers, patient groups and academia interested in health policy and technology.
Topics covered by HPT will include:
- Health technology, including drug discovery, diagnostics, medicines, devices, therapeutic delivery and eHealth systems
- Cross-national comparisons on health policy using evidence-based approaches
- National studies on health policy to determine the outcomes of technology-driven initiatives
- Cross-border eHealth including health tourism
- The digital divide in mobility, access and affordability of healthcare
- Health technology assessment (HTA) methods and tools for evaluating the effectiveness of clinical and non-clinical health technologies
- Health and eHealth indicators and benchmarks (measure/metrics) for understanding the adoption and diffusion of health technologies
- Health and eHealth models and frameworks to support policy-makers and other stakeholders in decision-making
- Stakeholder engagement with health technologies (clinical and patient/citizen buy-in)
- Regulation and health economics