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Article
Publication date: 14 April 2021

Ranjit Tiwari

This study seeks to understand the nexus between intellectual capital and profitability of healthcare firms in India with interaction effects.

Abstract

Purpose

This study seeks to understand the nexus between intellectual capital and profitability of healthcare firms in India with interaction effects.

Design/methodology/approach

Relevant data were extracted from the Centre for Monitoring Indian Economy (CMIE)'s Prowess database for a period of ten years 2009–2018 for a sample of 84 selected firms from the healthcare industry. This study uses value added intellectual coefficient (VAIC) and modified value added intellectual coefficient (MVAIC) as a measure of intellectual capital. Further, the study employs panel regression techniques to explore the relationship between intellectual capital and profitability.

Findings

The empirical findings reveal that the intellectual capital coefficient of healthcare firms in India averages 2.7757. It is also observed that a majority of the healthcare firms' intellectual capital coefficient is below the industry average. From the regression analysis, it is evident that the intellectual capital coefficient is positively related to the profitability of healthcare firms in India. As far as the components of intellectual capital coefficient are concerned, the capital employed coefficient (CEC) is the only component driving the profitability of healthcare firms in India. A further introduction of interaction terms improves model explainability and moderates the impact of the predictor variable on the response variable. Furthermore, it is observed that the intellectual capital coefficient of the healthcare industry is immune to changes in political regimes in India.

Practical implications

The findings reveal that intellectual capital is an important driver of corporate performance, thus healthcare firms in developing economies like India need to enhance their intellectual potential. Therefore, corporates and governments in developing economies should stimulate investments in developing intellectual capital for enhanced corporate performance and economic growth. Thus, this study might be used as a reference by policymakers while drafting the future policy for the development of intellectual capital in general and healthcare sector specifically.

Originality/value

This is among the first few studies to explore such an empirical relationship for healthcare firms in India and among the few studies of this kind across the globe. It also makes novel contributions in considering interaction variables and seeking the consistency of results across different political regimes. However, the study examines one nation and one industry; thus, the generalisation of findings requires caution.

Details

Journal of Intellectual Capital, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1469-1930

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Article
Publication date: 2 October 2007

Alexander Komashie, Ali Mousavi and Justin Gore

The purpose of this paper is to review the historical development of quality assessment methods in manufacturing industry and healthcare. It examines the gap between…

Abstract

Purpose

The purpose of this paper is to review the historical development of quality assessment methods in manufacturing industry and healthcare. It examines the gap between methods across the two sectors, as well as the extent to which industrial techniques have been successfully adopted in healthcare. Finally, a proposal for a new approach is presented.

Design/methodology/approach

Firstly, a review of the evolution of quality assessment was conducted, based on books written by prominent experts in the field. Secondly, a study of the current approaches in healthcare was undertaken. Publications from varied sources, including worldwide operations research and healthcare sources were selected according to criteria and reviewed.

Findings

While, the concept of quality has a long history, quality management in healthcare is not as advanced as in industry. There are a number of reasons for this, such as differences in concerns and processes across the two sectors. Further, quality researchers have differing views towards the best approaches. It was deduced that the way forward in healthcare quality is the enhancement of staff ownership and pride in a way akin to the era of the craftsmen, but with the use of new technology.

Practical implications

The findings provide a picture of how far quality management has advanced in industry and healthcare. There is a note of caution for the use of industrial techniques in healthcare, which may provide useful direction for further research and implementation.

Originality/value

This work uniquely examines the origins of the concern for quality, and follows the changes in demand and supply in industry and healthcare. It argues that understanding this historical review, and the nature of processes across both areas, is key to the future of healthcare quality. Finally, a new approach based on discrete event simulation is proposed.

Details

Journal of Management History, vol. 13 no. 4
Type: Research Article
ISSN: 1751-1348

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Article
Publication date: 1 March 2012

Xiaoli (Charlie) Yuan, Dennis M. López and Dana A. Forgione

The purpose of this paper is to analyze the market for audit services for publicly traded companies operating in the US for-profit (FP) healthcare sector. Complex national…

Abstract

The purpose of this paper is to analyze the market for audit services for publicly traded companies operating in the US for-profit (FP) healthcare sector. Complex national and local healthcare laws and regulations suggest the importance of assessing fee effects of joint nationallevel and city-specific expertise among auditors. Using cross-sectional OLS regression analysis, we find that joint expertise significantly affects audit pricing in the healthcare sector. We find a fee premium of 33.6 percent on engagements where auditors are both national and city-specific specialists. We also find that Big-4 auditor reputation is significantly priced over and above the effects of joint auditor expertise, and a significant positive association exists between audit and non-audit service fees-indicating the presence of knowledge spillover effects among healthcare company auditors.

Details

Journal of Public Budgeting, Accounting & Financial Management, vol. 24 no. 4
Type: Research Article
ISSN: 1096-3367

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Article
Publication date: 4 October 2011

Martín Tanco, Carmen Jaca, Elisabeth Viles, Ricardo Mateo and Javier Santos

Since the field of healthcare was a latecomer to the quality movement, knowledge transfer has generally flowed in one direction, from industry to healthcare. However…

Abstract

Purpose

Since the field of healthcare was a latecomer to the quality movement, knowledge transfer has generally flowed in one direction, from industry to healthcare. However, organisations can also be enriched by healthcare. In particular, this paper aims to show industry that important lessons can be learned regarding how teamwork is generally managed within healthcare.

Design/methodology/approach

To identify the useful lessons that healthcare can teach industry, the authors started with a brainstorming session among the members of the research team to pin‐point the lessons based on their experience with healthcare and industrial environments. Afterwards, an exhaustive review of the relevant literature from the last ten years was carried out.

Findings

Industrial organisations need to develop teamwork frameworks focused on involving every employee in cross‐disciplinary, empowered and trained teams. Moreover, from a team perspective, special care must be shown when defining clear roles, focusing on end clients, formulating shared objectives and facilitating internal communications.

Practical implications

The ten lessons from healthcare teamwork best practices believed to be the most important are given in the paper. Although some of these lessons may not be completely new concepts for industrial organisations, the paper shows how healthcare develops, spreads and applies these concepts in the real world.

Originality/value

The paper summarises, in ten useful lessons for organisations, healthcare's best teamwork practices in the literature.

Details

The TQM Journal, vol. 23 no. 6
Type: Research Article
ISSN: 1754-2731

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Article
Publication date: 10 May 2019

Puneeta Ajmera and Vineet Jain

Lean concept is implemented in healthcare organizations, as it deals with improvement processes so that best services may be provided to the patients and competitive…

Abstract

Purpose

Lean concept is implemented in healthcare organizations, as it deals with improvement processes so that best services may be provided to the patients and competitive advantage may be achieved. The purpose of this paper is to evaluate the important factors which influence implementation of lean principles in the healthcare industry.

Design/methodology/approach

The factors influencing lean implementation in the healthcare industry have been determined through literature review and results of a survey where questionnaires were distributed among 325 healthcare professionals. Fuzzy Interpretive Structural Modeling (FISM) approach has been used to analyze the interrelationships among these factors. A FISM model has been developed to extract the key factors influencing lean implementation.

Findings

Results of the survey and model show that lean leadership, professional organizational culture and teamwork and interdepartmental cooperation are the top level factors. Clarity of organizational vision, communication of goals and results, follow up and evaluations are the factors with strong driving as well as strong dependence power. Even a slight action taken on these factors will have a significant impact on other factors.

Practical implications

The healthcare professionals and managers can acquire information from the drive power dependence matrix so that they can thoroughly understand the relative importance, interdependencies and relationships among these factors. The model will help in determining the hierarchy of various actions and activities which may be taken by the management for managing the factors that remarkably affect the lean management in hospitals.

Social implications

In this paper, only 15 variables appropriate for the Indian healthcare industry have been identified. The model developed in the present research has not been validated statistically which can be done by structural equation modeling (SEM).

Originality/value

Though there are various studies which depict that lean principles have been implemented successfully in various industries, there are few studies specifying the application of lean principles in healthcare sector in India. This paper is an attempt to identify various factors which are important for application of Lean concept in the healthcare sector.

Details

International Journal of Lean Six Sigma, vol. 11 no. 2
Type: Research Article
ISSN: 2040-4166

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Article
Publication date: 11 April 2018

Bhavana Mathur, Sumit Gupta, Makhan Lal Meena and G.S. Dangayach

The purpose of this paper is to examine the causal linkages among supply chain practices, effectiveness of supply chain performance (SCP) and organizational performance…

Abstract

Purpose

The purpose of this paper is to examine the causal linkages among supply chain practices, effectiveness of supply chain performance (SCP) and organizational performance (OP) in Indian healthcare industries.

Design/methodology/approach

This paper is helpful in developing a framework for linking a healthcare supply chain practice to its OP, and thus identifies how such a linkage can be connected to the effectiveness of SCP. Such effort also enables the authors to derive a set of recommended supply chain practices for SC performance.

Findings

From the literature review, this paper finds that, in the context of Indian healthcare industries, efficient SC performance may play a critical role for overall OP improvement, as there is a close interrelationship between supply chain management (SCM) practices and SCP that may have a more significant effect on OP improvement.

Research limitations/implications

The principle limitation of the paper is that it is performed only in a particular industry and with a questionnaire survey which could be extended in future for other industries also. Another limitation of the paper is that it is focused only on the SCP of medical device and equipment supply chain which is a small portion of the whole healthcare supply chain, and therefore requires further research covering various other domains of healthcare supply chain. Another limitation of the study is that the sample survey has been taken from only one respondent per company at one point of time which may create biasness in the results. Thus, future research should collect data through multiple members from the organization.

Practical implications

This study contributes to know the effect of SCM practices on healthcare SCP and provides a practical and useful tool to evaluate the extent of effectiveness of SCP and finally their impact on the healthcare OP. Finally, this study provides conceptual and descriptive literature regarding SCM practices that leads to improvement in healthcare performance.

Social implications

This study adds to the knowledge on healthcare SCM performance by exploring the relationship between supply chain practices, healthcare SCP and healthcare OP and by developing and testing a research framework thus help in improving patient satisfaction.

Originality/value

This study attempts to show how the potential benefits of supply chain practices can no longer be ignored in healthcare supply chain.

Details

Journal of Advances in Management Research, vol. 15 no. 3
Type: Research Article
ISSN: 0972-7981

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Article
Publication date: 17 June 2019

Rocío Rodríguez, Göran Svensson and Carmen Otero-Neira

The purpose of this paper is to assess the future direction of sustainable development in the healthcare industry. This study aims to reveal general similarities and…

Abstract

Purpose

The purpose of this paper is to assess the future direction of sustainable development in the healthcare industry. This study aims to reveal general similarities and specific differences between private hospitals and enabler or hinders of sustainable development.

Design/methodology/approach

Based on an inductive approach, judgmental sampling was applied to select relevant healthcare organizations. Informants were identified according to their knowledge of their organizations’ sustainability initiatives.

Findings

In the context the homogeneity that could be expected, the studied hospitals range from having a very strong organizational conviction as to the future direction of sustainable development to a very weak one. There are some general similarities and specific differences between them reported.

Research limitations/implications

There is no common formula applicable across private hospitals to determine the future direction of their sustainable development. Although hospitals benchmark best practices, others use them only as a general frame of reference. This scenario offers opportunities for further research.

Practical implications

The economic, social and environmental sustainable development across private hospitals may evolve from general principles or guidelines, but the specific sustainable development at each hospital may well evolve along tailored economic, social and environmental actions.

Originality/value

Developing a framework considering similarities and differences between the sustainability actions of each hospital in the healthcare industry is important for understanding future directions. This study provides insights into factors that could enable success or constitute hinders of sustainable development. They can also guide the industry toward a common objective which improves the hospitals sustainability actions in the future, also minimizing the effort required.

Details

Journal of Business & Industrial Marketing, vol. 35 no. 3
Type: Research Article
ISSN: 0885-8624

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Article
Publication date: 10 April 2009

Panchapakesan Padma, Chandrasekharan Rajendran and L. Prakash Sai

The purpose of this paper is to determine the dimensions of service quality in Indian hospitals, from the perspectives of patients and their family members/friends…

Abstract

Purpose

The purpose of this paper is to determine the dimensions of service quality in Indian hospitals, from the perspectives of patients and their family members/friends (referred to as “attendants”).

Design/methodology/approach

Based on the existing models and the literature on healthcare services, a framework is proposed to conceptualize and measure hospital service quality.

Findings

Two instruments for measuring the dimensions of hospital service quality, one each from the perspective of patients and attendants, are proposed.

Practical implications

This framework enables hospital managers to understand how patients and their attendants evaluate the quality of healthcare provided in respect of every dimension. A comparison of perceptions between patients and attendants would aid them to allocate resources to various aspects of healthcare, with respect to these two customer groups. Hospital administrators can use the instruments proposed to obtain feedback on their performance on service quality parameters so that they can benchmark themselves with their competitors.

Originality/value

This paper contributes to research on healthcare services by the development of a comprehensive framework for customer (both patient and attendant)‐perceived healthcare quality.

Details

Benchmarking: An International Journal, vol. 16 no. 2
Type: Research Article
ISSN: 1463-5771

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Article
Publication date: 21 October 2020

Sulphey MM and K. Mohamed Jasim

Service quality (SQ) has become an essential and indispensable component in healthcare and many other industries. SQ can deliver guaranteed stakeholder value and…

Abstract

Purpose

Service quality (SQ) has become an essential and indispensable component in healthcare and many other industries. SQ can deliver guaranteed stakeholder value and consequent consumer delight in the healthcare sector. The purpose of this study is to identify the relationships of various SERVQUAL elements with respect to the SQ of surgical instrument suppliers among surgeons.

Design/methodology/approach

Data were collected from a sample of 112 surgeons working in the USA using the “snowball sampling” technique. A few standardised questionnaires, including SERQUAL, were used to collect the data. R-programming was used to perform structural equation modelling (SEM) analysis on the collected data.

Findings

The research study identified that service delivery factors and the SQ of surgical instruments contribute significantly towards medical practitioner sensitivity in the US healthcare industry. Word of mouth (WOM) did not have any significant impact on the medical practitioners' sensitivity.

Originality/value

A review of related literature revealed that studies that examine the surgeon's perspectives of SQ are scarce. Thus, the present study is directed towards this gap in literature. The findings of the study are significant in nature and have made a substantial contribution to management literature.

Details

Benchmarking: An International Journal, vol. 28 no. 1
Type: Research Article
ISSN: 1463-5771

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Article
Publication date: 15 March 2013

Julianne Payne and Jeffrey Leiter

Since the 1970s, the healthcare industry has undergone significant changes. Using neo‐institutional and resource dependency theories, the purpose of this paper is to…

Abstract

Purpose

Since the 1970s, the healthcare industry has undergone significant changes. Using neo‐institutional and resource dependency theories, the purpose of this paper is to explore how managers perceive constraint and enact agency amidst these historic challenges – perhaps most significantly, declining funding and increasing regulation.

Design/methodology/approach

The data come from ten interviews with healthcare managers, spanning for‐profit, non‐profit, and government legal forms and hospital and nursing home sub‐industries in both Queensland, Australia and North Carolina, USA. The authors look for patterns across the interviews.

Findings

The paper shows that governments and umbrella “parent” organizations force managers to adhere to institutional expectations in exchange for resource investment. Managers navigate these environmental obstacles using a shared business‐minded approach and competitive differentiation. Yet various interest groups – including front‐line workers, physicians, and patients – challenge this paradigm, as they demand a focus on quality of care. Managers' efforts are likewise curbed by the very resource and institutional pressures they resist.

Originality/value

The authors understand changes in the healthcare industry as resulting from an increasingly powerful managerial logic, at odds with traditional professional and societal values. Interest groups are best positioned to challenge this logic.

Details

Journal of Health Organization and Management, vol. 27 no. 1
Type: Research Article
ISSN: 1477-7266

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