how can technology reduce healthcare costs

Technology helps us every day in improving our healthcare system and reducing the cost of it as well. One example could be that as more technological advances occur, more commonly used medicine such as insulin for diabetics becomes cheaper simply because mass production becomes easier due to technology. Similarly, new medical equipments are facilitating with diagnosing patients faster, eliminating the costs for extra tests. Now, because most patient identification information and many other healthcare records are stored in a database, the information can be easily changed and accessed, reducing the amount of paperwork in healthcare costs. In addition, since most medical related information can be found on the internet, it is easier for patients to self-diagnose themselves rather than going to a physician. For example, instead of paying a $25 co-pay to see a doctor, the person could just ask a doctor online for free by posting his/her symptoms. Today, while going to the Penn Nanotech Society meeting, I learned a more indirect way that technology reduces healthcare costs. Silver nano uses nanotechnology to instill silver nanoparticles in water pipes and medical equipments as an antimicrobial device. This method reduces the risk of people contracting bacterial infections, thus indirectly reducing their potential healthcare costs. This last claim is a bit skeptical simply because the companies producing this technology have financial benefits.

Kage, Ben. EPA uses nanotech regulation ploy to target colloidal silver while ignoring all other nanotech particles. NaturalNews.com. (2006). http://www.naturalnews.com/021231.html