Toward a More Efficient Healthcare System Using Modelling Approach

Abstract:

This scientific article aims to identify the most optimal healthcare financing model suitable for a country's unique healthcare context while focusing on overcoming the fragmented and costly way in which healthcare is traditionally delivered. The tasks set for this research include evaluating and benchmarking different countries and environments to identify the most efficient model, reducing transaction costs, and analysing the agents and their motivations and decision situations using agent theory and game theory.

To achieve the goal and tasks, the author conducted a comprehensive study based on the transaction cost theory, which explains how inefficient contracts can lead to an inefficient healthcare system. Additionally, the author used agent theory to understand the motivations of various stakeholders involved in healthcare financing and game theory to analyse decision-making processes leading to socially and individually beneficial outcomes. The empirical segment of the research utilised data from the OECD annual healthcare database for 2016-2019.

A range of analytical tools, including descriptive analysis, data visualization, correlation analysis, and hypothesis testing were employed to examine the dataset for this study. The analysis results revealed four healthcare financial models with various indicators with different levels of influence. This research provides valuable insights for senior healthcare managers and policymakers to make informed decisions and lead their organisations toward more efficient and effective healthcare financing models.

In conclusion, this study fills the research gap and addresses the central research question by comprehensively analysing healthcare financing models. The results emphasize the importance of reducing transaction costs and understanding the motivations of different stakeholders for achieving more efficient and effective healthcare outcomes. Countries can move towards a more integrated and cost-effective healthcare system by implementing the most efficient model identified in this study.

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