The Impact of Innovation Strategy on Business Performance in Public vs. Private Healthcare: A Systematic Literature Review

Following the recent focus, innovation is crucial in changing and impacting the healthcare systems, resulting in improved patient outcomes, enhanced organizational performance and impacting society overall. The paper conduct a dual approach to investigate innovation in healthcare. First, it utilizes a bibliometric analysis to delineate the current research landscape, pinpointing significant trends, authors, and developing topics within the sector. Secondly, it offers a systematic literature review (SLR) that explores the influence of various innovation strategies on business performance in both public and private healthcare environments. The bibliometric analysis reveals an increasing scholarly focus on open innovation, digital transformation, and leadership in healthcare innovation. The systematic review consolidates findings from 34 studies, exploring topics such as leadership roles, cross-sector collaboration, and the financial consequences of implementing innovation strategies in healthcare. Research indicates that public healthcare organizations typically gain advantages from collaborative innovation networks, while private companies prefer more adaptable, market-oriented strategies. In both sectors, leadership, intersectoral collaborations, and financial investment are key elements in advance successful innovation. By integrate these findings, the study shows the impact of innovation strategies on healthcare outcomes and furnishes pragmatic guidance for healthcare leaders and policymakers aiming to enhance innovation initiatives and performance within their organizations.