Tech Increases Healthcare Costs How?
Dr. Voran: You quote Steven Brill's Time magazine piece, in which he writes: "unlike those of almost any other area we can think of... the advance of technology has made medical care more expensive, not less." Why is that so? How exactly is the advance of technology making medical care more expensive? As we all know, price is mainly a function of supply and demand. The supply of medical practitioners isn't going up, but the demand for services is going way up, thanks to an aging population and government-funded programs that pay for or subsidize wellness and a range of other healthcare services. Isn't that the root of escalating healthcare prices? I just don't see the connection between more technology and higher healthcare prices. Correlation isn't causation.