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    Economics of Health Care

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    Could you help me evaluate the impact technological changes have had on the economics of health care and what these changes mean to the health care industry? I need to address least two (2) changes.

    Please also help me recommend a methodology decision makers can use to determine the benefit of technological solutions and the expected benefits.

    Finally, please help me elaborate on the idea that the consumer is a health producer. Please discuss the implications of this to the health care industry and the economy.

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    Solution Preview

    Several technological changes over the past few decades have had a significant impact on health care. Some of the impact contributes to increased healthcare spending. However, much of the technological change has also contributed greater efficiency, improved health outcomes, and increased revenue potential for healthcare organizations. Greater efficiency means healthcare organizations can provide care for more patients, to potentially increase revenues. At the same time, better outcomes for patients can also increase revenues, as quicker and better services have the potential to improve the reputation of the organization.

    Two technological changes having a major impact on healthcare are electronic health information systems and stents to keep arteries open and prevent future heart attacks. Electronic health information is one way of improving efficiency of care. It can provide easier and quicker access to patient health information, which can speed up the assessment and treatment of patients. This is particularly true when providers cans share electronic health information. Better and quicker assessment and treatment can reduce costs for health care, when chronic diseases are better managed. However, implementation, use, and maintenance of electronic health record systems increase overall operations costs. Electronic health systems have a great potential if utilized creatively. Communication between patient and provider through the internet can potentially reduce the costs of office visits by 20% (Dabela, 2006). However, both parties must be somewhat ...

    Solution Summary

    The economics of health care are given.The idea that the consumer is a health producer is determined.