A Transaction Cost Economics Assessment of a Diabetes Self-Management Solution

A Transaction Cost Economics Assessment of a Diabetes Self-Management Solution

Indrit Troshani (University of Adelaide Business School, Australia), Nilmini Wickramasinghe (RMIT University, Australia) and Steve Goldberg (INET International Inc., Canada)
DOI: 10.4018/978-1-60960-183-6.ch016
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Diabetes is one of the leading chronic diseases affecting Australians and is increasingly becoming a serious challenge and threat for both the quality of healthcare while increasing cost pressures on the Australian healthcare system. The goal of this study is to provide a transaction cost economics framework which can be used as a tool for high-level assessments of the economic viability of a pervasive technology solution developed by INET in the form of a wireless enabled mobile solution to facilitate superior diabetes self-management. In doing so, we prepare the inroads for proposing an approach for refined quantifiable assessments of a pervasive IT-enabled healthcare solution.
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As there is no cure for diabetes, non-medical approaches are used jointly with medical approaches so that patients can have a life which is as normal as possible. However, non-medical approaches can be challenging as they require effective lifestyle management and meticulous attention and monitoring by both patients and healthcare professionals (Britt, et al., 2007). Particularly, to be successful, patients need to be both informed and active in their treatment regimen (AIHW, 2007, 2008). This can be achieved by effective self-management which is a non-medical approach and which constitutes the focus of this chapter.

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