The rising cost of healthcare in the United States has prompted many researchers and industry analysts to examine recent changes and trends in the sector. New technology is changing the way medical services are administered, and in the interest of expenditures, this evolution can be a double-edged sword.
One potential money-saving movement is technology meant to aid home health care. Devices designed to monitor basic indicators of well-being, such as smartphone applications and wearable items equipped with sensors, may help seniors and their caretakers avoid the cost of nursing homes and around-the-clock supervision.
"It shows you can really do simple things with simple technology," Louis Burns of CareInnovations said about a related study, according to Reuters. "It's about getting the right information into the right hands at the right time."
New technology can also have the opposite financial effect. The cost of many treatments that involve specialized machinery has risen in recent years and is leading to a growing national issue, along with other healthcare expenditure factors. The U.S. Centers for Medicare and Medicaid Services notes that by 2015, national healthcare spending is expected to hit $3.4 trillion, far higher than the $2.6 trillion spent in 2010.