Technological Innovation and Diffusion within the Healthcare Sector

TECHNOLOGICAL INNOVATION AND DIFFUSION WITHIN THE HEALTHCARE SECTOR
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Contents Introduction. 3 Technological Innovation. 3 Definition. 3 Technological Innovation in the Healthcare Sector 4 Benefits of technological Innovation in the Healthcare Sector 5 Risks and Challenges. 6 Technological Diffusion. 7 Definition. 7 Technological Diffusion in the Healthcare Sector 8 Benefits of Technological Diffusion in the Healthcare Sector 9 Risks and challenges. 9 Conclusion. 10 References. 11
TECHNOLOGICAL INNOVATION AND DIFFUSION IN THE HEALTHCARE SECTOR
Introduction
The healthcare sector is a crucial entity because of the services that it provides. Like any other segments, this sector relies heavily on technological innovations to enhance service provision and ensure customer satisfaction. This report looks at the technological revolution in the healthcare sector. Technological innovation entails the way an organization or a firm introduces new techniques, products, or services to enhance its performance. Diffusion of innovation refers to the manner in which innovations spread to other firms and organizations and other regions in different countries. Consequently, this report considers the concept of technological interdependence in the healthcare sector. The main objective of this consideration is to assess the ways in which technological innovation and diffusion has significantly transformed the healthcare sector in terms of enhancing patient experience and improving their outcomes.
Technological Innovation
Definition
According to Camisón and Villar-López (2014), innovation refers to the way a corporate entity creates new commodities, procedures, or conceptions or addresses product portfolio, procedures, and thoughts in novel ways. In the healthcare sector, hospitals and clinics continue to explore the various ways that they can benefit from technology. According to D'Agostino et al. (2021), the technological revolution in the health sector, which has resulted in the significant increase in the application of information and communication technologies, especially during the COVID-19 pandemic, may be because of a revolution among the users whose relationship with ICT has encouraged the healthcare systems to adopt these new innovations. These technologies have been instrumental in shaping internal processes or activities and corporate frameworks in the health sector. Some hospitals mix different strategies to attain maximum efficiency in their operations.
Technological Innovation in the Healthcare Sector
The three categories of innovation implemented in the healthcare sector include incremental, disruptive, and radical innovation (Coad et al., 2014). Incremental innovation uses current tech in an active market. The goal is to improve an existing service by introducing new components, implementing design improvements, etc. Disruptive innovation involves innovating different technologies, processes, or revolutionary strategic plans into established industries. At first glance, developing advancements appear less capable than existing on...