New Paradigms in the Business of Healthcare

The healthcare business is growing fast in most countries, particularly the new economic achievers where private medical groups expand in numbers and market share alongside with the health insurance and medical supplies industries, including the multinational pharmaceutical companies. Such development has been accelerated, not only by the economic growth, but also by the increasing demand from the increasing ageing population and technology advancement, such as the Healthcare 4.0 movement, derived from Industry 4.0. New paradigms in the healthcare, and related industries, appear paramount for sustainable development as resources, whether in the public or private sectors, are not unlimited. The world economy was in the brink of recession with the COVID-19 pandemic. This requires the application of ESG in the sustainable development in healthcare. Health in All Policies, mandatory ESG, and SDG 3, research, training, and practice in these approaches are the ways forward. The chapter will present the issues in new directions and models of conducting the business in healthcare and examine how practices can affect sustainable development in health and wellness.