IDEAS home Printed from https://ideas.repec.org/a/spr/annopr/v328y2023i1d10.1007_s10479-022-05016-4.html
   My bibliography  Save this article

National IoMT platform strategy portfolio decision model under the COVID-19 environment: based on the financial and non-financial value view

Author

Listed:
  • Chih-Hao Yang

    (Ming Chuan University)

  • Yen-Yu Liu

    (Soochow University)

  • Chia-Hsin Chiang

    (Yuan Ze University)

  • Ya-Wen Su

    (National Defense University)

Abstract

The Internet of Medical Things (IoMT) is an emerging technology in the healthcare revolution which provides real-time healthcare information communication and reasonable medical resource allocation. The COVID-19 pandemic has had a significant effect on people’s lives and has affected healthcare capacities. It is important for integrated IoMT platform development to overcome the global pandemic challenges. This study proposed the national IoMT platform strategy portfolio decision-making model from the non-financial (technology, organization, environment) and financial perspectives. As a solution to the decision problem, initially, the decision-making trial and evaluation laboratory (DEMATEL) technology were employed to capture the cause-effect relationship based on the perspectives and criteria obtained from the insight of an expert team. The analytic network process (ANP) and pairwise comparisons were then used to determine the weights for the strategy. Simultaneously, this study incorporated IoMT platform resource limitations into the zero–one goal programming (ZOGP) method to obtain an optimal portfolio selection for IoMT platform strategy planning. The results showed that the integrated MCDM method produced reasonable results for selecting the most appropriate IoMT platform strategy portfolio when considering resource constraints such as system installation costs, consultant fees, infrastructure costs, reduction of medical staff demand, and improvement rates for diagnosis efficiency. The decision-making model of the IoMT platform in this study was conclusive and significantly compelling to aid government decision makers in concentrating their efforts on planning IoMT strategies in response to various pandemic and medical resource allocations.

Suggested Citation

  • Chih-Hao Yang & Yen-Yu Liu & Chia-Hsin Chiang & Ya-Wen Su, 2023. "National IoMT platform strategy portfolio decision model under the COVID-19 environment: based on the financial and non-financial value view," Annals of Operations Research, Springer, vol. 328(1), pages 1151-1179, September.
    • Handle: RePEc:spr:annopr:v:328:y:2023:i:1:d:10.1007_s10479-022-05016-4
    DOI: 10.1007/s10479-022-05016-4
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1007/s10479-022-05016-4
    File Function: Abstract
    Download Restriction: Access to the full text of the articles in this series is restricted.
    File URL: https://libkey.io/10.1007/s10479-022-05016-4?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Denicolai, Stefano & Previtali, Pietro, 2020. "Precision Medicine: Implications for value chains and business models in life sciences," Technological Forecasting and Social Change, Elsevier, vol. 151(C).
    2. A. Charnes & W. W. Cooper & R. O. Ferguson, 1955. "Optimal Estimation of Executive Compensation by Linear Programming," Management Science, INFORMS, vol. 1(2), pages 138-151, January.
    3. Chen, Peng-Ting & Lin, Chia-Li & Wu, Wan-Ning, 2020. "Big data management in healthcare: Adoption challenges and implications," International Journal of Information Management, Elsevier, vol. 53(C).
    4. Kuziemski, Maciej & Misuraca, Gianluca, 2020. "AI governance in the public sector: Three tales from the frontiers of automated decision-making in democratic settings," Telecommunications Policy, Elsevier, vol. 44(6).
    5. Nakamura, Hiroki & Managi, Shunsuke, 2020. "Airport risk of importation and exportation of the COVID-19 pandemic," Transport Policy, Elsevier, vol. 96(C), pages 40-47.
    6. Kroezen, Marieke & Van Hoegaerden, Michel & Batenburg, Ronald, 2018. "The Joint Action on Health Workforce Planning and Forecasting: Results of a European programme to improve health workforce policies," Health Policy, Elsevier, vol. 122(2), pages 87-93.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Chih-Hao Yang & Yen-Chi Chen & Wei Hsu & Yu-Hui Chen, 2023. "Evaluation of smart long-term care information strategy portfolio decision model: the national healthcare environment in Taiwan," Annals of Operations Research, Springer, vol. 326(1), pages 505-536, July.
    2. Wojtek Michalowski & Włodzimierz Ogryczak, 2001. "Extending the MAD portfolio optimization model to incorporate downside risk aversion," Naval Research Logistics (NRL), John Wiley & Sons, vol. 48(3), pages 185-200, April.
    3. Kadziński, MiŁosz & Greco, Salvatore & SŁowiński, Roman, 2012. "Extreme ranking analysis in robust ordinal regression," Omega, Elsevier, vol. 40(4), pages 488-501.
    4. Thomas L. Saaty, 2013. "The Modern Science of Multicriteria Decision Making and Its Practical Applications: The AHP/ANP Approach," Operations Research, INFORMS, vol. 61(5), pages 1101-1118, October.
    5. Yanagida, John F. & Book, Don N., 1984. "Application of the Least Absolute Value Technique as a Data Filter for Detecting Structural Change in the Demand for Meat," Northeastern Journal of Agricultural and Resource Economics, Northeastern Agricultural and Resource Economics Association, vol. 0(Number 1), pages 1-5, April.
    6. Dima, Bogdan & Dincă, Marius Sorin & Spulbăr, Cristi, 2014. "Financial nexus: Efficiency and soundness in banking and capital markets," Journal of International Money and Finance, Elsevier, vol. 47(C), pages 100-124.
    7. Hamalainen, Raimo P. & Mantysaari, Juha, 2002. "Dynamic multi-objective heating optimization," European Journal of Operational Research, Elsevier, vol. 142(1), pages 1-15, October.
    8. Tsoukias, Alexis, 2008. "From decision theory to decision aiding methodology," European Journal of Operational Research, Elsevier, vol. 187(1), pages 138-161, May.
    9. Gaskin, Darrell J. & Zare, Hossein & Delarmente, Benjo A., 2021. "Geographic disparities in COVID-19 infections and deaths: The role of transportation," Transport Policy, Elsevier, vol. 102(C), pages 35-46.
    10. Richard W. Cottle, 2017. "On “Pre-historic” Linear Programming and the Figure of the Earth," Journal of Optimization Theory and Applications, Springer, vol. 175(1), pages 255-277, October.
    11. Kroezen, Marieke & Schäfer, Willemijn & Sermeus, Walter & Hansen, Johan & Batenburg, Ronald, 2018. "Healthcare assistants in EU Member States: An overview," Health Policy, Elsevier, vol. 122(10), pages 1109-1117.
    12. Zhang, Weidong & Zuo, Na & He, Wu & Li, Songtao & Yu, Lu, 2021. "Factors influencing the use of artificial intelligence in government: Evidence from China," Technology in Society, Elsevier, vol. 66(C).
    13. W. Cooper & C. Lovell, 2011. "History lessons," Journal of Productivity Analysis, Springer, vol. 36(2), pages 193-200, October.
    14. Demirci, Mehmet & Bettinger, Pete, 2015. "Using mixed integer multi-objective goal programming for stand tending block designation: A case study from Turkey," Forest Policy and Economics, Elsevier, vol. 55(C), pages 28-36.
    15. Tsai, Wen-Hsien & Hsu, Jui-Ling, 2008. "Corporate social responsibility programs choice and costs assessment in the airline industry—A hybrid model," Journal of Air Transport Management, Elsevier, vol. 14(4), pages 188-196.
    16. Tan Yigitcanlar & Rashid Mehmood & Juan M. Corchado, 2021. "Green Artificial Intelligence: Towards an Efficient, Sustainable and Equitable Technology for Smart Cities and Futures," Sustainability, MDPI, vol. 13(16), pages 1-14, August.
    17. Glover, Fred & Sueyoshi, Toshiyuki, 2009. "Contributions of Professor William W. Cooper in Operations Research and Management Science," European Journal of Operational Research, Elsevier, vol. 197(1), pages 1-16, August.
    18. Koenker, Roger & Park, Beum J., 1996. "An interior point algorithm for nonlinear quantile regression," Journal of Econometrics, Elsevier, vol. 71(1-2), pages 265-283.
    19. Antonella Zucchella & Pietro Previtali & Roger Strange, 2022. "Proactive and reactive views in the transition towards circular business models. A grounded study in the plastic packaging industry," International Entrepreneurship and Management Journal, Springer, vol. 18(3), pages 1073-1102, September.
    20. Vasiliki Koniakou, 2023. "From the “rush to ethics” to the “race for governance” in Artificial Intelligence," Information Systems Frontiers, Springer, vol. 25(1), pages 71-102, February.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:annopr:v:328:y:2023:i:1:d:10.1007_s10479-022-05016-4. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.