This paper analyzes the effects of technology on health care economics. Modern technology is a key driver in rising health expenditures. Most countries consider rising health expenditures as an enduring challenge that requires balancing of cost control, affordable and equitable access to beneficial treatment, and support for innovation. By support for innovation, it means healthcare facilities apply new technologies to help treat various diseases. Public spending on health grows at a faster rate which raises concern on the average spending per capita when innovations are put in action. Despite rising public expenditure, several technological inventions help to improve the health outcome of patients.
effects of technology on health care economics
POSITIVE EFFECTS OF TECHNOLOGY IN HOSPITALS
In hospitals, the positive effects of technology are as follows. Digitization of health records allows for easy storage and tracking of patient records and payment this reduces the tiresome task of manual retrieval of patients’ documents. Additionally, Electronic health records (EHRs) contain summaries of health records of the patient which includes diagnosis, lab reports, and prescriptions. This enables health care workers to keep track of medication and tests of the patients which helps to improve health outcomes. Technology impacts health care economics by reduction of time spent on the performance of a single task, therefore, increases productivity. Also, it reduces the cost of traveling for patients in search of certain medical technology.
positive effects of technology in hospitals
THE IMPORTANCE OF HEALTH CARE ECONOMICS
Health care economics has the following importance. It determines how to improve health outcomes and bring about better patients’ lifestyle patterns. This is through improved interaction between health care providers and individuals. Thus, Cost-utility is an aspect of health care economics. This ensures the improvement of the quality of life of patients to reduce mortality. It also performs cost-benefit analysis where the cost of establishment of innovation has an equal match on the positive effect of technology.
importance of health care economics
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