The Hidden Costs of Healthcare Innovations
Technological advancements in the healthcare industry can be shockingly effective. They also can exert a significant impact on a hospital’s budget. On this episode of Full Circle Healthcare, a Mesphere Systems podcast, David Macfarlane, Marketing Communications Manager for Medsphere Systems, sat down with host Sean Heath to discuss the challenges of adopting the latest and greatest technologies.
The initial cost of a new healthcare technology can vary widely, based on the size/scope of the product, Macfarlane said.
“If you’re looking at the entire range of IT products, specific to healthcare, so, we’re talking about an entire healthcare platform. An electronic health record that runs a whole hospital, or a healthcare system, and then you could scale all the way down to a single software product that does something very specific, or a single device that does something very specific,” he said.
The cost and budgetary impact of technological advances is apparent across the entire industry, explained Macfarlane.
“There’s a linear relationship between increases in healthcare costs and the introduction of technology into the healthcare environment. When you introduce new technology, costs go up. We haven’t managed to bend that curve, at all,” he said.
Macfarlane also explained that the rapid adoption of healthcare IT systems can decrease the usage by the physicians it was designed to assist.
“They found that they sort of made their lives more complicated, not less complicated,” Macfarlane said. “They found that they spend more time now than they used to, entering data and a lot of hospitals have actually hired people to do that for physicians. So, there’s still a lot of maturity (for these systems) to achieve.”
For the latest news, videos, and podcasts in the Healthcare Industry, be sure to subscribe to our industry publication.
Follow us on social media for the latest updates in B2B!
Twitter – @MarketScale
Facebook – facebook.com/marketscale
LinkedIn – linkedin.com/company/marketscale
Latest
Teach For America Reinvention: Culture Transformation and Educator Recruitment
Teach For America (TFA) started with an idea in 1989 by Wendy Kopp. The TFA formally launched in 1990 with a mission to provide all children in America with an excellent education. More than thirty-three years later, TFA is continually improving itself by expanding its network and resources with initiatives like TFA’s Reinvention Lab. […]
‘Everything Everywhere All At Once’ Reminds Scientists and Metaphysicians That Researching the Multiverse Has Important Thematic Fundamentals
The multiverse theory has been the subject of scientific research and philosophical debate for decades. It is a theory that suggests the existence of multiple universes beyond our own, each with its own unique physical laws and properties. Along with the recent phase of the Marvel Cinematic Universe, 2023’s Best Picture-winning film Everything Everywhere All […]
Adapting the SLR Magic of Anamorphic Filmmaking to the Panasonic Lumix Ecosystem Creates Endless Filmmaking Possibilities
The Panasonic Lumix System revolutionized independent filmmaking through the convergence of a handheld DSLR style body, larger than video camera sensors for a narrow depth of field, and the versatility and utility of interchangeable lenses. By being mirrorless and with the use of adapters, a broad gamut of vintage and modern lenses became available for […]
