Healthcare is a dynamic industry that impacted and driven by technology. Although the dawn of organized health care was one of the most significant changes to the healthcare field it is under a constant state of change. The healthcare field has evolved considerably in the areas of technology, finance, and economics. Technology continues to mold and drives the direction of healthcare by advancing the practice far beyond the practice of educated guessing to a detailed and highly accurate science. While finances, type of pay structure and payers change, grow and become more extensive as well. Another significant shift in healthcare is the economics of healthcare. Healthcare finance continues to be stressed, and the cost of health care services are still too expensive for many to afford. The medical field has seen steady increases in cost throughout the years and is currently being reconfigured to make appropriate adjustments.
Past
Over the last decade, the technology behind health care has changed drastically. The technology of the past has been developed upon, many services and pieces of machinery have been enhanced and corrected in many cases to achieve better outcomes. Technology has continued to evolve and progress which has resulted in a steep increase in the healthcare spending over the last few years. These increases were one of the reasons that have caused the economics behind health care to move into a critical state.
As a result of price hikes, the cost of health insurance plans rapidly trended upward driving the prices to an uncomfortable range. In some cases, the price doubled. In 2008, the average cost for employer-sponsored health insurance premium had risen to 12,700 from 6,800 in 2000 (Furnas, 2016).
Finance has continuously been a huge issue within health care in the United States. One of the other things that have significantly impacted the health care industry is the rapid increase in the cost of medication and medical treatments in comparison to the rest of the economy. To combat this disparity, the financial and economic tools and methods used to address issues regarding patients ability to afford care was the issuance of the Patient Protection and Affordable Care Act (PPACA). The sole mission of the act was to increase the amount of ensuring person in the United States and make health insurance more affordable. Part of this legislation worked towards decreasing unnecessary hospital admissions and the enforcement of high-quality care thus decreasing avoidable and extraneous repeat medical treatments.
Present
In the present day, health care is seemingly in a constant state of transition. Technology continues to be at the root of many of these healthcare shifts; however, expanding on health insurance coverage and rectifying medical spending seems to be the primary focuses. The state of health care is still currently in an enormous medical crisis. The financial and economic tools and methods being used in the healthcare industry today are the implementations of the Patient Protection and Affordable Care Act (PPACA) as well. This law has been in effect for some time now but is still in a transitional phase.
The PPACA, according to health care economist will transform the health care system into a “higher-quality, higher-productivity system with strong incentives for efficient, coordinated care” (Kocher, M.D & Sahni, B.S., 2010, para. 1-5). The intention of this act is that the adjustment will both increase the quality of care while reducing cost.
Current day health care has also concentrated on the preventative aspects of health care as opposed to the reactive and treatment based care that was practiced in the past.
The current standard of payment and payment sources and mechanisms used in the healthcare industry today have changed considerably as well. There is currently several different types of health insurance structures that are catered to the needs and health profiles of various types of patient. There is the option of health maintenance organization (HMO), preferred provider organization (PPO), exclusive provider organization (EPO), and point of service(POS) plans. In the past, there were not many options. There was only the basic HMO.
Future
The future of healthcare is set to continue with the journey of correcting the health care crisis. The focus on this correction centers on the economic plight that medical care is undergoing as well as the quality of the medical services that patients receive. This total makeover of the health care system explores five major changes that are set to improve the medical field.
The future of healthcare includes the shift from quantity to quality of services. This change forces healthcare institutions to provide better care to the patients rather than providing numerous services and a large number or billable treatments. Another of these changes is the proposed change of patient accountability perspective. Patients will be admonished to consider healthier lifestyles rather than reactionary medical treatments. They will be encouraged to take care of themselves and incentivized for following through with these behaviors. Next, is the utilization of telemedicine and telehealth technology. Instead of face to face doctors visits, patients will begin to receive treatments via telehealth were reasonable. This service will help to minimize costs as well.
Healthcare will also benefit from the use of electronic health records. These files allow for access to the vital patient information and a decrease in additional funds spent on repeat labs and testing. Finally, considering and reevaluating the price and pricing criteria or pharmaceuticals will significantly improve the state of the healthcare system (Fry, 2015).
The focus will continue to create and explore ways to decrease medical spending, increase the overall health of Americans, expand health insurance coverage and emphasize coordinated care for patients. Technology will continue to grow as the demand for more detailed information is required by patients hopefully in a more responsible fashion.
Conclusion
In conclusion, the healthcare system has changed drastically over the last ten years and will continue to do so through its lifetime. One of the primary directional drivers of the health care industry is technology. Technology shapes health care by dictating the flow, delivery, and price of services. Healthcare economics has also seen quite a drastic shift in the last decade as well. Although the particular challenges have changed throughout healthcare past and present, the goal if to have health patients. The medical field is well on its way to solidifying a system that can both benefit the patient and settle at a spending level that that is suitable for all parties.



