Bukh Per Nikolaj, Nielsen Christian
Department of Business Studies, Aalborg University, Denmark.
J Health Care Finance. 2010 Winter;37(2):8-26.
This study focuses on how financial analysts understand the strategy of a health care company and which elements, from such a strategy perspective, they perceive as constituting the cornerstone of a health care company's business model. The empirical part of this study is based on semi-structured interviews with analysts following a large health care company listed on the Copenhagen Stock Exchange. The authors analyse how the financial analysts view strategy and value creation within the framework of a business model. Further, the authors analyze whether the characteristics emerging from a comprehensive literature review are reflected in the financial analysts' perceptions of which information is decision-relevant and important to communicate to the financial markets. Among the conclusions of the study is the importance of distinguishing between the health care companies' business model and the model by which the payment of revenues are allocated between end users and reimbursing organizations.
本研究聚焦于金融分析师如何理解一家医疗保健公司的战略，以及从这一战略视角来看，他们认为哪些要素构成了医疗保健公司商业模式的基石。本研究的实证部分基于对跟踪哥本哈根证券交易所上市的一家大型医疗保健公司的分析师进行的半结构化访谈。作者分析了金融分析师如何在商业模式框架内看待战略和价值创造。此外，作者还分析了全面文献综述中出现的特征是否反映在金融分析师对哪些信息与决策相关且对向金融市场传达很重要的认知中。该研究的结论之一是区分医疗保健公司的商业模式与终端用户和报销组织之间收入分配模式的重要性。
