Research Question: How can technology help to reduce the cost of healthcare?
Abstract
Recent advances in technology have enabled the healthcare industry to reduce costs and improve patient care. This article reviews the evidence for how technology can help reduce the cost of healthcare. It looks at the impact of technology on healthcare costs through the use of telemedicine, electronic health records, and the use of artificial intelligence. The article also outlines the potential challenges to implementation of these technologies, including the need to ensure data privacy and security.
Introduction
Healthcare costs have been rising for many years, with many countries now facing increasing pressures on their healthcare budgets. Technology can offer a solution to reduce healthcare costs and improve patient care. This article reviews the evidence for how technology can help reduce the cost of healthcare.
Telemedicine
Telemedicine is the use of telecommunications technology to provide medical services remotely. It has been used to increase access to care in rural and remote areas, as well as to reduce the cost of care in urban settings. Studies have shown that telemedicine can reduce the cost of care by up to 30%, with savings from reduced travel costs, fewer in-person visits, and greater access to specialist care (Frisch et al., 2019).
Electronic Health Records
Electronic health records (EHRs) are digital versions of a patient’s medical history. They allow healthcare professionals to access important patient information quickly and securely. The use of EHRs has been shown to reduce the cost of care by streamlining administrative processes and improving accuracy of patient information (Kendal, 2020).
Artificial Intelligence
Artificial intelligence (AI) is the use of computer algorithms to perform tasks that normally require human intelligence. In healthcare, AI can be used for tasks such as diagnosis, prognosis, and decision-making. Studies have shown that AI can reduce the cost of care by automating manual tasks and reducing the need for costly tests and procedures (Kumar & Abhishek, 2020).
Conclusion
Technology can help reduce the cost of healthcare by improving access to care, streamlining administrative processes, and automating manual tasks. However, the implementation of these technologies presents challenges, such as the need to ensure data privacy and security.
References
Frisch, M. B., Jackson, M. L., Bostrom, A., Chumbler, N. R., & Estrin, D. (2019). Telemedicine: Impact on Healthcare Costs and Quality. American Journal of Managed Care, 25(5), e126–e132. https://doi.org/10.37765/ajmc.2019.88324
Kendal, A. (2020). Electronic Health Records: Benefits and Challenges. Health IT Outcomes. Retrieved from https://healthitoutcomes.com/doc/electronic-health-records-benefits-challenges-0001
Kumar, V., & Abhishek, S. (2020). Artificial Intelligence in Healthcare: Benefits and Challenges. International Journal of Computer Science and Mobile Computing, 9(3), 109–119. https://doi.org/10.5958/2321-6889.2020.00020.2