Global Business and Innovation in Finnish Healthcare

Abstract

Business innovation has become influential for hospitals as healthcare systems confront international competition. However, there is limited research on how Finnish hospitals leverage their technological strengths to support internationalization. Therefore, this study aims to identify the key factors shaping Finnish hospitals' global strategies and to explore how innovation contributes to their international expansion. A qualitative research strategy was applied, following an interpretive philosophy, an inductive approach, and a case study design. Data was collected through interviews, written responses, and questionnaires with healthcare professionals. Thematic analysis was then used to identify patterns in the data, supported by the VRIO framework to evaluate the strategic value of internal resources.

Empirical results show that external factors affecting the international strategies of Finnish hospitals include global competition, EU healthcare regulations, and rising demand for digital healthcare. On the other hand, internal strategic assets include strong digital infrastructure, knowledgeable medical staff, and a collaborative research culture. Furthermore, innovation is necessary to extend healthcare services beyond Finland, particularly in telemedicine and AI-assisted diagnostics. The study indicates that all resources in the health care industry align with the Resource-based view.

The study recommends that hospitals should improve international cooperation and coordinate innovative initiatives with strategic planning. Also, Finnish hospitals can enhance their global footprint. Generally, they are well-positioned to participate in the global healthcare economy by leveraging their professional knowledge and technological expertise. The government should also support the efforts by providing clear policies, streamlined regulations, and targeted funding to strengthen the internationalization of Finnish hospitals.