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Article
Publication date: 13 February 2023

Justin Jahn and Sabine Bohnet-Joschko

This study aims to explore the rise of virtual specialty care startups and understand how the ventures leverage digital services to create a new market space. Given the high level…

519

Abstract

Purpose

This study aims to explore the rise of virtual specialty care startups and understand how the ventures leverage digital services to create a new market space. Given the high level of competition in an established industry like health care, the authors investigate the business models and competitive strategies of leading virtual specialty care startups with unicorn status (i.e. emerging, current and exited unicorns).

Design/methodology/approach

The authors performed an analysis of Crunchbase data to examine whether rising virtual care ventures target specialty care. They focused on companies from the USA, Europe and Asia-Pacific. The identified virtual specialty care ventures were investigated in-depth via a multiple case study. By reviewing corporate websites, Crunchbase data and media coverage, the authors analyzed the ventures’ business models and competitive strategies.

Findings

This study demonstrates that even in established and highly competitive markets such as health care, managers and entrepreneurs can still leverage digital services to unlock new market spaces. The data analysis reveals that virtual care startups target the field of specialty care. They create a new market space by focusing on fast access to services, personalization, measurable outcomes and affordability. The majority of investigated companies pursues a platform-based business model approach.

Originality/value

In the context of an established industry like health care, this study gives insights into a new generation of virtual specialty care ventures. By investigating the ventures’ business models and competitive strategies, the authors advance a young field of research.

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Article
Publication date: 14 June 2022

Justin Jahn and Sabine Bohnet-Joschko

This study aims to investigate whether health insurers are transforming from pure payers into ecosystem-based health service companies. The authors discuss the findings’ impact on…

257

Abstract

Purpose

This study aims to investigate whether health insurers are transforming from pure payers into ecosystem-based health service companies. The authors discuss the findings’ impact on health insurers’ business model approach and their sources of competitive advantage.

Design/methodology/approach

The authors conducted a multiple case study of 25 incumbent and rising health insurers from the USA, Europe and Asia-Pacific. The selection of firms was based on databases from Forbes, S&P Global Market Intelligence and Crunchbase. By performing a review of financial reports, app descriptions, corporate websites and media coverage, the authors analyzed health insurers’ digital service offerings and underlying strategic approaches for providing those services.

Findings

This study demonstrates that major health insurers are transforming into ecosystem-based health service companies. They expand the traditional insurance value chain by offering value-adding health services along the patient journey. The analysis results are summarized in a table displaying 18 digital service categories along core patient journey phases with corresponding examples of health insurers and underlying strategic approaches.

Originality/value

The role of digital services and ecosystems has been explored for many industries. This study investigates this subject area with a focus on the health insurance sector, advancing a young field of research. The analysis gives insights into the latest digital service offerings and strategic approaches of an internationally diverse set of incumbents and rising ventures.

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