Moore’s Law for Medicine

by Larry Emmott on September 10, 2013

in Future Tech,Management

Medical-moneyFrom MIT Tech Review:

Moore’s Law predicts that every two years the cost of computing will fall by half. That is why we can be sure that tomorrow’s gadgets will be better, and cheaper, too. But in American hospitals and doctors’ offices, a very different law seems to hold sway: every 13 years, spending on U.S. health care doubles.

via Cost-Saving Innovation Needed in Health Care | MIT Technology Review.

The linked MIT article makes the perplexing point that health care costs are rising at an exorbitant rate and much of the rise is blamed on expensive new technology. On the other hand technology itself is constantly getting better and cheaper.

What makes medical technology pricing the opposite of all other technology?

The guilty party is a ridiculous pricing system, third party payers, government intervention and the entrenched interests of doctors, hospitals and suppliers. Rather than the high price culprit technology should be the savior.

Inexpensive consumer products like smart phones can be converted to patient based systems that will provide better, faster treatment at a fraction of the cost of current hospital physician based systems.

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