September 2024 

Every second, technology is transforming the way we live and work.

At Monash University Malaysia School of Business, researchers are at the forefront of studying tech-driven solutions to today’s real problems in every sector of society.

In the field of healthtech, Professor Nafis Alam, Head of School and renowned fintech expert, has been studying the emergent area of digital health and how it can make healthcare more affordable and accessible.

He is part of an interdisciplinary research team comprising experts from Monash campuses in Australia, Indonesia and Malaysia. Their incubator project analysed the fiscal space for health in the South and Southeast Asia regions.

“We wanted to understand what the opportunities in digital health are, existing challenges and how health fintech platforms and alternative financing platforms can bridge gaps and support patients in covering medical expenses,” Professor Nafis explained.

Additionally, researchers explored how policymakers and regulators can play their part in creating a digital health ecosystem that is friendlier for patients.

“Ultimately, we hoped to discover how traditional funding (loans and grants) along with financial technology and digital health services can help countries find sustainable ways of sustaining their healthcare systems without an over-reliance on international aid,” he said.

The study found that the introduction of technology through digital health and health fintech should have the sole purpose of achieving pareto efficiency (when resources are allocated most efficiently) in the healthcare industry, either by promoting timely innovations or conserving medical resources.

The research project was funded by the Monash University Incubator Grant, one of the university’s strategic ways of encouraging academic faculty to conduct impact-driven research.

Whilst strides are being made in harnessing technology to create accessible and affordable healthcare systems across the region, fellow School of Business researcher Professor Teh Pei-Lee is exploring technology’s potential in a different way.

Advancing lives of self-sufficiency for older people

Professor Teh is part of a sub-programme under the Transforming Cognitive Frailty into Later-Life Self-Sufficiency (AGELESS) program which focuses on transforming cognitive frailty into self-sufficiency in later life.

“Our area of focus dives into how cognitive frailty impacts mobility and how technology can provide cutting-edge, innovative solutions to enhance mobility. There are 50 researchers in the AGELESS team and Monash is the only private university to lead the sub-programme,” she shared.

The scholar is passionate about uncovering practical, meaningful solutions for today’s ageing societies. She firmly believes that seniors deserve the tools and support to live independently and with dignity.  

Her research, Overcoming cognitive frailty among older adults through mobility solutions for seamless and sustainable ageing, is funded by the Long-Term Research Grant under the Ministry of Higher Education, Malaysia.

Professor Teh is a leading expert on gerontechnology, a field that studies how technology can improve the lives and work of older people.

She is also the founder of the Gerontechnology Lab at Monash University Malaysia, the first of its kind in the nation.

“I’m very passionate about ageing research and our AGELESS team is the first to conduct any kind of ageing research in East Malaysia. The AGELESS team has published 187 papers and have 6,000 seniors in our database whom we constantly engage,” she said.

Research findings so far have been presented to stakeholders and partners, shaping policy and ground initiatives that tackle challenges facing older people, such as dementia and frailty.

“In fact, in August this year (2024) the AGELESS team had a policy roundtable discussion on the implementation of the National Dementia Action Plan in Penang,” Professor Teh enthused.

AGELESS work was also featured in  ‘Dementia in the Commonwealth’, a 2024 report by the Commonwealth Association for the Ageing.

Impactful research is interdisciplinary and solves real problems

The School of Business is blazing the trail for world-class research that transforms curious questions into strategic business insights, which in turn contribute to a more equitable, sustainable world.

From ageing societies to rural communities, the common thread tying the School’s diverse research endeavours is the unflinching commitment to identify viable solutions to real-world problems.

For research to be sustainable and impactful, however, both Professor Nafis and Professor Teh firmly believe in knowing the why behind any research endeavour.

“It’s not about just publication or having curiosity; we must have a shared goal to solve a real problem. As researchers, we have brilliant ideas but sometimes, we don’t work on them,” Professor Teh said, adding that efficient use of resources is also essential.

The School of Business is committed to supporting scholars keen to harness their knowledge, skills and interests to advance the research space in Asia and beyond.

Professor Nafis, whose project was awarded AUD 70,000 (approx RM201,827), encouraged aspiring researchers to seek suitable research grants, think ahead to emerging areas and work on interdisciplinary projects.

“Know your passion, find like-minded collaborators and remember that every research project has a business element embedded into it whether it is economic viability or economic benefits ,” he advised. “That’s how you’ll grow.”

Learn more about the School of Business’ programs here.