The rapid industrial revolution has transformed information technology (IT) value to business value which facilitates healthcare information management and integration of healthcare systems. 4 Owing to the paramount significance of the inviolable healthcare system, researchers are very keen to evaluate certain mechanisms to enhance the survival and sustainability of this industry. 1 - 3 Therefore, the financial sustainability of the healthcare system is essential for macroeconomic stability, labor market efficiency, and social cohesion.
A substantial body of microeconomic literature argued that healthier citizens or workers are more productive, more energetic, more mentally stable, and less likely to get absent from work due to illness. The sustainable development of the healthcare industry is a critical stimulant of human capital, thus, a crucial aspect of economic growth. We also find that financial and ICT development positively moderates the relationship between FinTech development and sustainable performance. Contrary to the substitution effect, our results further indicate that financial institutions are collaborating with FinTechs to facilitate financing at the individual and firm-level. By applying the 2-step GMM technique, we find a robust estimate that digital financial technologies improve the sustainable performance of the firms. Drawing on technological knowledge spillover theory, this study investigates the effect of FinTech development on the sustainable performance of healthcare firms using panel data comprised of 11 Asia-Pacific countries. Thus, it is important to address and fill the knowledge gap by identifying factors that improve a firm’s sustainability. Maintaining a sustainable, resilient, and durable healthcare system facilitate economies to achieve sustainable competitiveness.
Healthcare organizations are setting new targets of sustainable practices to improve their financial performance without depleting social and natural capital.
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