Technology is the Biggest Influencer in Reducing Health Care Costs

• Health care economists estimate that 40-50% of annual health care cost increases can be linked to new technologies or the increased use of old ones. Consequently, the control of technology is one of the most important factors in reducing the price of medical services. 
•  Millions of American consumers had their first video consults in 2016, were prescribed by their first health apps and used their smartphones as diagnostic tools for the first time. This increased access to healthcare at any time and in any place is expected to change consumer expectations and fuel innovations. 
• Approval of ‘novel new drugs’ has jumped significantly in recent years. Many of these FDA approved pharmaceuticals are designated as breakthrough therapies because clinical evidence indicates that they may ‘substantially improve at least one clinically significant endpoint compared with other available therapies. 
•  Behavioural telehealth visits are expected to increase access to and the convenience of health care services. In 2014, more than 100,000 U.S. veterans had behavioural telehealth visits at local community-based clinics. These visits were shown to reduce psychiatric admissions by 24%. 
• Care delivery will also change in the coming years. ‘Bedless’ hospitals and virtual care centres – which will provide services to many patients in remote locations – will drive a move towards alternative payment methods and new database tools, increasing access to healthcare.
  
  
  Given many people’s lost faith in the government to improve the quality and cost of healthcare, as well as access to medical services – magnified by extreme societal inequality – do you think that we now have to rely on technology to achieve consumer expectations
  
  
  http://www.hhnmag.com/articles/7641-technology-biggest-influencer-of-health-care-costs