Evolution of Business Models in Regenerative Medicine: Effects of a Disruptive Innovation on the Innovation Ecosystem

Banda, Geoffrey; Tait, Joyce; Mittra, James

doi:10.1016/j.clinthera.2018.06.003

Cited by 38 publications

(25 citation statements)

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“…Innovations of business models in health care mainly concern areas related to the socalled digitalization, e-health and telemedicine (Garrety et al, 2014;Jog et al 2015). In addition, innovations may also concern the extension of health care for the elderly, as well as the modification of the business model in the field of regenerative medicine (Banda et al, 2018). Another problem for taking managerial decisions is information asymmetry as the lack of perfect information (Bergh et al 2019).…”

Section: Literature Reviewmentioning

confidence: 99%

Business Model Transformation – Challenges for the Management of the Health Care Entity

Szewieczek¹

2019

EMS

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Every organisation has shaped its business model, which defines the way of creating value. Obviously, there several incentives for development as well as factors limiting the modification of business models. They can concern various sectors and also be analysed in various information sections. When looking for the determinants of shaping business models, one should carry out their classification. Conducting medical activity takes place in a special environment and the creation of business models in a health organisation requires close attention. Financing health care is predominantly made from public funds. As a result, shaping the revenue stream is significantly limited, as well as its differentiation. In turn, in terms of costs, unfavourable phenomena occur, causing their growth. Healthcare services are provided under quite special circumstances. Among other phenomena, one can perceive the movement of human resources from less wealthy economies to those offering more favourable employment conditions. It is also possible to identify determinants resulting mainly from the law regulation, as well as located in the field of behavioural, cultural and social factors. The phenomena mentioned above results in the transition of the business model of medical activity. These effects are also noticeable in financial flows of costs and revenues, as well as in cash flows. All of the mentioned above phenomena are important for managers who tend to pursue the set goals. In some situations, it is advisable to change the way the organization operates, to shape its organizational structure and network of connections with the environment. The aim of the article is to identify and classify barriers and incentives of business model transformation in health care organizations. The hypothesis states that among the determinants of business model transformation in health care organization tax optimization and limited resources availability are very important for their managers. The research methods contain meta-analysis of literature, observation, case-study and cause and effect relationship analysis as well as the method of synthesis.

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Section: Literature Reviewmentioning

confidence: 99%

Business Model Transformation – Challenges for the Management of the Health Care Entity

Szewieczek¹

2019

EMS

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“…the change of business models over time. The transformation could be explored on the level of an entire sector or industry -music industry (Vaccaro & Cohn, 2004), sustainable technologies (Bohnsack, Pinkse, & Kolk, 2014), airline sector (Bieger & Agosti, 2005) or regenerative medicine (Banda, Tait, & Mittra, 2018) as examples. An alternative research perspective is to study the evolution of a business model of a specific organisation or enterprise.…”

Section: Introductionmentioning

confidence: 99%

The evolution of business models of Polish health resort enterprises

Kozarkiewicz¹,

Kabalska²

2020

JEM

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Aim/purpose-The aim of the paper is to explore the evolution of business models of health resort enterprises. The sector is perceived in this research as a case of a particular, traditional sector based on natural (here: balneological) resources which has been undergoing significant changes. In addition to the analysis of the evolution of business models, the purpose was to investigate the role of different categories of resources, e.g. infrastructure or relational competences, in substituting natural resources in the creation of business models. Design/methodology/approach-The exploration was based on a quantitative approach and survey research. The data gathered through the questionnaire were used in cluster analysis which adopted the agglomeration (hierarchical) method, i.e. grouping of features by Ward's method. Findings-Business models in the health resort sector in Poland have evolved and the major change incorporated their shift from business models focused on an idiosyncratic category of resources, i.e. natural, balneological resources, to business models based on other categories, like human resources, e.g. employees' competences, tangible resources like modern infrastructure or financial resources (for example contracts). The application of a clustering method facilitated tracing the evolution of business models from various perspectives, such as the importance of interorganiational cooperation, different value propositions, and focus on various customer segments. The evolution of business models of Polish health resort enterprises 63 Research implications/limitations-The research implication for management studies is the recognition and presentation of the categories (archetypes) of business models of health resort enterprises in Poland as well as the characteristics of the evolution of business models within the scope of their components. The primary practical implication from a managerial perspective is to provide the basis for evaluation of opportunities and threats related to the adopted business model when comparing to the alternatives currently chosen by competitors. The major limitation of the research is the small sample size. Originality/value/contribution-The paper presents the results of the original research conducted among health resort enterprises in Poland. The paper identifies and characterises various categories (archetypes) of business models of the health resort enterprises in Poland as well as the evolution of the building blocks of implemented business models. The study contributes to the discussion on the usefulness of resource-based-view (RBV) as a theoretical perspective of business model research. The results are consistent with RBV as well as adhere to competence approach and relational view. From a practical perspective, they offer a recipe (formula) for managers of health resort enterprises interested in introducing changes into their business models.

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“…This paper builds on the authors' previous research [1,6,7]; providing new empirical data and analysis to inform our thinking on disruptive innovation and how the concept can be operationalized to deliver a more supportive policy environment [5]. The key to this approach is to attend to the extent of disruption of incumbent company business models, the location of that disruption within specific value chains, and the impact of regulatory and policy choices on the location and extent of disruption.…”

Section: Introductionmentioning

confidence: 99%

“…The calls for 'closed manufacturing systems' are based on the need to reduce some of these 'necessary redundancies' of current clean room operation procedures for cGMP requirements. Other challenges include lack of value chain integration, technology delivery gaps, and arguably inappropriate or disproportionate governance of innovative technologies [4,6]. Given the disruptive nature of RM, new firm-to-firm linkages are needed to create new value chains and, during early development phases, brokerage is important to create links with stakeholders [6].…”

Section: Introductionmentioning

confidence: 99%

“…Other challenges include lack of value chain integration, technology delivery gaps, and arguably inappropriate or disproportionate governance of innovative technologies [4,6]. Given the disruptive nature of RM, new firm-to-firm linkages are needed to create new value chains and, during early development phases, brokerage is important to create links with stakeholders [6]. These disruptive challenges are not experienced by manufacturers of small molecules and other biologicals and they are important for understanding the unique hurdles RM manufacturers face in assuring cellular product safety, quality and efficacy, as well as traceability and attendant ethical considerations.…”

Section: Introductionmentioning

confidence: 99%

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Regenerative medicine as a disruptive technology: implications for manufacturing & clinical adoption

Banda¹,

Tait²,

Mittra³

2019

Cell Gene Therapy Insights

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Although regenerative medicine has been described as a disruptive innovation, there has been little critical enquiry into the nature and location of the disruption. This paper, based on ten cases in the UK, analyses the nature of disruption for allogeneic and autologous therapies in terms of manufacturing, distribution and adoption in clinical settings. We discuss the challenges of dealing with inherent variability in living systems and how this necessitates co-evolution of technologies and innovations. We propose that understanding of the distinction between disruptive and incremental innovation, and of the nature, extent and location of the disruption across sectoral value chains, can help to guide company innovation strategies and government innovation support policies for regenerative medicine, as already proposed for industrial biotechnology.

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Evolution of Business Models in Regenerative Medicine: Effects of a Disruptive Innovation on the Innovation Ecosystem

Cited by 38 publications

References 10 publications

Business Model Transformation – Challenges for the Management of the Health Care Entity

Business Model Transformation – Challenges for the Management of the Health Care Entity

The evolution of business models of Polish health resort enterprises

Regenerative medicine as a disruptive technology: implications for manufacturing & clinical adoption

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