Digital Transformation and Industry 4.0 Initiatives for Market Competitiveness: Business Integration Management Model in the Healthcare Industry

The main objective of this research is to examine the concept of industry 4.0 through digital transformation using the business integration management model for market competitiveness in the healthcare industry. Partial objectives are to analyze its effectivity in terms of a value proposition, specifically, value delivery transformation, value capture transformation, patients' empowerment, community-based transformation, market competitiveness, and globalization transformation. We further analyze the role of advanced technology in digital transformation. For this purpose, we employ a structured questionnaire completed by 4429 respondents representing stakeholders from the United States and Pakistan. We use SEM-based multivariate approaches such as exploratory and confirmatory factors analysis and conditional process modeling for the data analysis. The findings of this study demonstrate that the digital transformation integration model significantly and positively affects value delivery transformation, value capture transformation, patients' empowerment, community-based transformation, and globalization transformation for market competitiveness. The findings further reveal that technological advancement has a significant moderating impact between the digital transformation integration model, value delivery transformation, value capture transformation, patients' empowerment, community-based transformation, and globalization transformation that also increase the market competitiveness of healthcare industries, including hospitals, pharmacies, laboratories, pharmaceutical companies, and other related industries. The findings of the undertaken study have imperative theoretical and practical implications. Industry practitioners can gain optimal financial and social competitiveness through digital transformation using the business integration management model.