Health expenditures continue to grow very rapidly in the U.S. Many healthcare cost experts point to emerging medical technology as one of the key drivers for healthcare expenditures.
Advances in medical technology have long been a part of the healthcare systems around the world, and have played a significant role in the American healthcare system.
Many medical advances produce better results for many patients, but many others are more expensive without providing a net benefit to patients. In many cases, older technologies are more cost effective and accurate. The health insurance reimbursement system is believed to encourage the adoption and prevalent use of these technological advancements, often before the cost-benefit of these technologies is known.
Given the significance of this cost driver, it is important to consider strategies that encourage a fair assessment of the benefits and costs of new technologies.