Social Contract and Its Consequences Post COVID 19—A Systemic Perspective in Emerging Economies

Problem Definition Emerging economies and countries such as India, during COVID-19, health facilities across theglobeespecially in India, does not have the capacity to handle the number of patients.This research aims to reduce health disparities in the Indian context through funding mechanisms to service providerswhowish to serve the nationduringcrisis that criticallyaffect economic growth. Academic Relevance In India PPP has been a viable solution when the government-led public sector formed a partnership with the technically advanced and innovative private sector. Through this study, we are taking a step towards modelling PPP contracts where the government is planning to integrate emergency services that may provide insights into research in academicians/practitioners in emergency medical services in developing and emerging economies. Methodology In this study, we are taking a step towards analytical modeling of PPP contracts where the government is planning to integrate emergency services and examine various scenarios applying The principal-agent model by characterizing the equilibrium contracts among the Government and the Service provider. Results Results imply that the government needs to develop policies that require immediate action to aid service providers who have a reputation for providing quality emergency health services to survive in a circular economic situation thereby providing a solid foundation to the newly integrated emergency medical services in emerging economies like India. Managerial Implications During COVID-19, management of emergency service providers in India has to decide the capacity to handle the number of patients. Apart this, during this crisis and scarcity, public partnerships (PPP) bids and decide the type of service provider (nonprofit or corporate). that can help to ensure optimal health outcomes with quality, equity, access, and fair distribution.