Evaluate The Impact Technological Changes Have Had On The Economics Of Health Care

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Evaluate the impact technological changes have had on the economics of health care and what these changes mean to the health care industry, addressing at least two (2) changes. There are a myriad of disruptive technologies impacting the economics of healthcare today. Two of the most disruptive in terms of re-ordering capital expense (CAPEX) spending are cloud computing's impact on medical records management (Corredor, Martínez, Familiar, 2011) and telemedicine administered remotely over the Internet (Johansson, Wild, 2010). The economics of healthcare are being changed both structurally and at the patient experience level, which together are re-ordering the entire value chain of healthcare service delivery and monitoring. Cloud computing-based medical records management is making it possible for hospitals and treatment centers to have a single, unified system of record for their current and past patient population (Corredor, Martínez, Familiar, 2011). This has drastically reduced duplication of records management systems, minimized reporting and billing errors, and created a highly effective platform for patient-based analytics (Martin, Yen, Tan, 2002). The insights and intelligence gained from the analytics driven from patient systems is also making it possible for healthcare providers to better redefine process workflows, making hospital operations more cost-effective. The combining of cloud computing platforms and telemedicine is streamlining the treatment plans for
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