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    Technological Development: Medicare and Medicaid Programs

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    Healthcare has seen some very amazing technological advances over the years. These advances have come from all areas such as diagnostic services, implants, pharmaceuticals and etc. CMS is the single largest purchaser of healthcare services. Would there have been as much technological development without the creation of the Medicare and Medicaid programs? Please help me answer this question in 200 words or more.

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    I'm not an American so I'm always reluctant to answer questions specific to American conditions. Your question however has some general implications so I therefore will answer it, I do hope to your satisfaction. Well Medicare & Medicaid are just forms of financing medical services. But medical service in one form or another has been going on for thousands of years. When I attended medical school in the 1960's one of my professors said that investing your hard earned money in the pharmaceutical industry was a rather safe investment since like people ...

    Solution Summary

    Discusses the development of technology.