Essay on "Using Technology to Lessen Health Care Costs"
Essay 2 pages (833 words) Sources: 4
[EXCERPT] . . . .
One of the significant challenges in lessening the rising costs of health care is the high costs of developing or producing new medical products. Generally, a huge portion of innovative products in medical markets are characterized by huge up-front costs of development and relatively less marginal costs of production (Jessup, 2012).Policymakers have attempted to deal with this challenge through patents i.e. government protection that is geared to safeguard innovative products for some time. However, these measures have proven ineffective since they do not address the challenge effectively and continue to enhance health care costs. For instance, despite the use of patents, the cost of developing a new innovative medical product in 2006 was more than $1 billion. Policymakers envision that this challenge can be dealt with through the use of technology to develop medical products. Technology provides new means for developing medical products and significantly lessens the high up-front development costs. The discrepancies in these relatively high costs of development are attributed to the differences in the procedures used to create medical products. While some differences in development are not fully eliminated by the use of technology, it provides a standardized measure for production of innovative medical goods. These standardized measures help in lessening the costs of production, which in turn reduces the overall costs of health care.
These attempts by policymakers are successful in lessening the costs of health care because they result in development of substantial innovations that replace more costly technology and offer health improvements. The innovations help in lesseni
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References:
Jessup, A, (2012, May). Health Care Cost Containment and Medical Innovation. Retrieved from U.S. Department of Health & Human Services website: http://aspe.hhs.gov/sp/reports/2012/costandinnovation/ib.shtml
"Snapshots: How Changes in Medical Technology Affect Health Care Costs." (2007, March 2).
The Henry J. Kaiser Family Foundation. Retrieved June 30, 2014, from http://kff.org/health-costs/issue-brief/snapshots-how-changes-in-medical-technology-affect/
"Summing Up HITECH Goals." (n.d.). Success EHS -- A Part of Greenway. Retrieved June 30,
2014, from http://www.successehs.com/item/summing-up-hitech-goals.htm
Takvorian, S. (n.d.). A Reporter's Toolkit: Health Information Technology. Retrieved June 30,
2014, from http://www.allhealth.org/publications/health_information_technology/health_information_technology_toolkit.asp READ MORE
Quoted Instructions for "Using Technology to Lessen Health Care Costs" Assignment:
“TOPIC:Technology and Cost Containment
In response to continually rising health care costs, the Health Information Technology for Economic and Clinical Health (HITECH) provision was created to promote the meaningful use of health care information technology through numerous incentive programs for health care providers. By enhancing data collection, streamlining electronic medical records, and increasing transparency, it is believed that significant cost savings can be realized as well as other positive outcomes. What are some of the tradeoffs involved in this type of policy?
To prepare:
Reflect on the challenges of containing health care costs in the U.S. presented in the Learning Resources and discussed by Dr. Kominski and Dr. Zelman in the media.
Consider how information technology may be used to address health care issues related to cost.
Examine the Health Information Technology for Economic and Clinical Health (HITECH) provision and its goals.
post a cohesive response that addresses the following:
1. Briefly summarize a significant challenge to containing health care costs.
2. How do policy makers envision technology could be utilized to address this challenge (above)? Provide at least one example to support your response.
3. Do you agree or disagree with the policy makers? Describe why you agree or disagree and include one or more insights from this analysis that relate to the question of how information technology could, or could not, help contain costs while supporting health care reform initiatives.
How to Reference "Using Technology to Lessen Health Care Costs" Essay in a Bibliography
“Using Technology to Lessen Health Care Costs.” A1-TermPaper.com, 2014, https://www.a1-termpaper.com/topics/essay/reducing-health-care-costs/383476. Accessed 5 Oct 2024.
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