Medical Device Industry Overview

In today’s generation technology is the key point in all of our lives. With all those new technological inventions a huge percent of those inventions refer to the medical field.

Medical technology is a strong suit in the U.S., most commonly found in more expensive insurance

as defensive medicine practice, new technology, malpractice lawsuit and the uninsured. New technology is the biggest factor of the rising cost of healthcare to treated patient of their illness. New technologies have seemed to be the driving force of high healthcare cost in America. The technology accounts for 38 to 65 percent of healthcare spending in America (Johnson, 2011). The annual spending of health care increased from 75 billion in 1970 to 2.0 trillion in 2005 and is estimated to reach 4.0 trillion in 2015 (Kaiser Foundation, 2013). U.S. citizens spent 5,267 per capita for health care in 2002- 53 percent more than any other country” (2005). “America spent 5267 per capita and in Switzerland they spent 3074 per capita” about 1821 cheaper than ours (Starfield, B 2010). Controlling the technology isn’t easy thing to do because of technology prices are set by manufacturing and the installer of the new medical equipment’s. However, there other way

A third useful tool CMS can present to staff members is continuing education. The Medicare Learning Network offers online courses in a broad range of CMS subjects. Many of the topics discussed offer continuing education credits for the healthcare professional (Web-Based Training, 2014).

I believe in this case the programs were not justified,” Dr. David Nash, collected data on this information and looked into the quality of the program before and after the certificate-of-need program ended (George, 2002).” Only some of the hospitals were performing enough surgeries to remain proficient,

Ensure that there are sufficient trained personnel and technology resources to support surveillance of catheter use and outcomes.

Competition between providers has caused physicians and hospitals to offer the most current healthcare technologies and modern, eye-catching settings has contributed to increasing healthcare costs, as well as providing unwarranted highly technical services (Shi & Singh, 2015). Renovations of the physical settings and the acquisition of expensive technologies elevated healthcare services prices to cover the additional costs of providing high technical services and attracting clients.

Medical technology encompasses a wide range of healthcare products and is used to diagnose, monitor, and treat diseases or medical conditions that affect humans. This may included but not limited too, pharmaceuticals, vaccines, and medical equipment. Such technologies are intended to improve the quality of healthcare delivered through earlier diagnosis, less invasive treatment options and reductions in hospital stays and rehabilitation times. Recent advances in medical technology have also focused on cost reduction. Medical technology may include medical devices, information technology, biotech, and healthcare services. The impacts of medical technology may involve social and ethical issues. For example physicians may seek objective information from technology rather than listening to subjective patient reports. A major contributor of healthcare expenditure in America is the advancement of medical technology. According to several studies it is shown that there is a correlation between the nation’s gross domestic product (GDP) and money allocated to healthcare. One of the leading theories is that medical technology is growing faster than expected.

“Curricula must be aligned with the practice setting (Veltri, 2012). At this time all staff will be handed out a step by step book with screen shots on how to operate the new EMR. This includes opening a patient’s chart, accessing medications, past medical records, and any progress or clinical notes. To accommodate all different types of learning styles to individuals these training sessions will also be recorded for staff to view multiple times or at any time. “Because the purpose of clinical learning is to foster application of theory to practice, clinical learning activities should be related to what is being taught in the classroom” (Gaberson, 2012). Teaching sessions will be mandatory for all staff and their will be make up classes the next week for the individuals who will be off the days of the sessions. A copy of the step by step booklet will also be emailed a power point presentation that they can save to their desktop so they can reference back if they develop any questions. “The lecture method presents information effectively; creative strategies provide diversions that reinforce key material or area of emphasis” (Herman, 2008). During the week there will be small quizzes staff need to take and receive an 90% or higher to show compensates in the EMR system. If someone fails to achieve this percentage they will attend the class again with another quiz at the end of the day. At the end of the week comprehensive test will be given as well and the same 90% grade. The test is very important as it will ensure that staff is able to chart and document in the appropriate section, know where to find vital information such as medications, past medical and surgeries history. Staff who achieves thee highest percentage will have the opportunity to become “super users”

Advances in technology are a primary reason for the high cost of health care. The book, Health Care USA: Understanding its Organization and

What an exciting time to become part of the health care industry! Medical research makes new discoveries to improve the quality of patient care and save lives on a daily basis. Health care reform is gaining momentum, revolutionizing the industry and requiring many administrative changes, such as the creation of the Health Insurance Portability and Accountability Act of 1996 (HIPAA). Rules and standards evolved from this act provide a way to ensure your protected health information remains confidential. In this digital age, it is particularly relevant. The digital evolution impacts many areas. Digital TVs, computers, smart phones and iPods have totally changed the way we do business and enjoy entertainment. In the medical industry, the

Historically, reimbursement has been Fee-For-Service (FFS): tied to volume of visits, hospitalizations, procedures, and tests. This reimbursement structure creates misaligned incentives and fragmented, suboptimal patient care resulting in burgeoning costs and a lack of focus on outcomes. As a result, CMS and the industry have been

It is the King Fahad Medical City commitment to ensure balance, independence, ‎objectivity and scientific rigor in all Continues professional Development (CPD) ‎activities. The desired outcome of this policy is to conduct CPD activities that are free of ‎the appearance of or actual conflicts of interest and the introduction/demonstration of ‎bias in favor or against a commercial product, service, or device in return for known or ‎unknown personal and professional gain. The intent of this policy is to ensure that any ‎potential conflict will be identified openly so that the activity participants may form ‎their own judgments about the presentation with the full disclosure of facts.‎ To comply with government bodies for programs accreditation

The trends serve the purpose of improving the quality of services provided to patients. Making sure that the practitioner has received proper education and has enough knowledge and skills will mean that the practitioner will be able to help people. Secondly, it is necessary to check whether the practitioner who has already received credentialing develops as a professional, since the new methods of treatment and new technology appear all the time.

As it relates to the textbook, this describes some of the scope of the hospitals; which refers to the range of activities which the firm performs internally, the breadth of its product and service offerings, the extent of its geographic market and its mix of businesses. But unlike with the electric company, no regulator caps hospital profits. To the extent that author Steven Brill found any consistency among hospital charge-master practices, this is one of them: hospitals routinely seem to charge 2V2 times what expensive implantable devices cost them, which produces that 150% profit margin.