The Social Contract and Its Consequences During COVID-19 for Profit-Oriented PPPs: A Systemic Perspective in Emerging Economies.

Problem Definition In emerging economies and countries such as India, during COVID-19, health facilities across the globe, especially in India, do 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 providers who wish to serve the nation during crises that critically affect economic growth. Academic Relevance In India Profit profit-oriented PPPs has been a viable solution when the government-led public sector formed a synergetic 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 the health service sector and academicians/practitioners in emergency medical services in developing and emerging economies. Methodology In this study, we are taking a step towards analytical modelling 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 between 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 have to decide the capacity to handle the number of patients. Apart from this, during this crisis and scarcity, public private partnerships (PPP) bids can decide the type of service provider (Non Profit or Corporate) that can help to ensure optimal health outcomes with quality, equity, access and fair distribution.