Question

Each student should write a page and a half about any factor that contributing in decreasing or increasing the cost of healthcare.

The factors contributing to decrease in costs is:

value-based purchasing

management of physician preference in medical devices.

The factors contributing to increase in costs is:

emerging medical technology

chronic disease

Answer 1

Emerging Medical Technology:

In today's world, technology is overtaking the manual system which has both aspects. But the technology is very costly and in healthcare, without technology, nothing can be done. This not only affects the system but also increases the cost of healthcare. People have to pay more for the treatment because of the technology involved in the treatment.

Medical technology includes robotics, radiology, ultrasound, MRI, Blood test, endoscopy, etc. Without this nothing can be treated perfectly and ultimately no diagnose of the disease. Lack of medical technology may increase the mortality rate also.

So, it is important to have medical technology in healthcare. But patients have to pay more to avail of this facility. Because the cost of technology increases the cost of treatment. In this way, Emerging medical technology increases the cost of healthcare. It is also included for the better screening of the disease for better reports and treatment. Thus, increasing the cost of healthcare.