The Impact Of Medical Technology On Healthcare

878 WordsJul 22, 20164 Pages
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. Funding sources The majority of funding for medical technology and advancements comes from government programs such as Medicare, Medicaid, and private insurance companies. The National Health Expenditure, within the last fifty years has leapt from $147 per capita in 1960 to $8, 953 in 2012. The portion of the GDP that
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