Home Budgeting Medical Tech Advances that Will Save Consumers Money

Medical Tech Advances that Will Save Consumers Money

Medical Tech Advances that Will Save Consumers Money

There have been several advances in medical technology that have the potential to save consumers money as the cost of using the equipment starts to drop. New medical technology is notoriously expensive when it is first introduced into healthcare institutions. The costs begin to drop as the technology is better integrated into everyday processes and becomes a tool that is in widespread use.

There have been three recent advances in medical technology that will definitely reduce the cost of healthcare for consumers:

Electronic Medical Records (EMR) 

EMR systems and electronic health record (EHR) systems have already started to appear in most hospitals and associated medical businesses. The expense of the systems has been mitigated by some tax breaks and there is already legislation in place to ensure proper usage. EMR in a hospital gives doctors and staff the ability to work with electronic patient records using digital devices such as tablet computers. EHR systems give hospitals and patients the ability to quickly transmit complete electronic health records anywhere in only a few minutes.

The combination of these systems reduces the costs associated with hospital administration, reduces the chance for errors because of missing documents or handwriting, and allows patient data to be portable. This will reduce the cost of healthcare over the coming years as the systems become standard in all medical practices.

Advanced Diagnostics 

Many advances have been made in the area of diagnostic equipment, techniques, and preventative medicine. Technology such as computed tomography (CT) scanners and magnetic resonance imaging (MRI) machines can now see greater detail with reduced radiation emissions and a lower cost of operation. Software for these devices is faster and more accurate. Institutions like Huntingdon Life Sciences have helped to developed better preventative medications.

New robot-assisted surgical equipment allows minimally invasive procedures to be performed with close to no in-hospital recovery time for the patients. These advances are leading to better preventative care that will reduce the cost of healthcare for consumers as diseases are caught and treated before escalating into an issue that requires expensive and risky medical procedures.


Doctors have been able to use robot-assisted surgical equipment to perform procedures on patients from remote locations for decades now. New technology allows faster connections and more accurate manipulation of devices. Collaborative technologies are also making it possible to consult with specialists who are half-way around the world. This will reduce the cost of healthcare for consumers because the pool of available doctors and specialists will be expanded so that there is a reduction in travel expenses and less stress on individual doctors.

It can also result in a more accurate first diagnosis, better treatment from skilled specialists, and shorter hospital stays. The cost of healthcare will drop as telepresence becomes even more common and easy to use in professional medical settings.

One of the problems with tracking the cost savings that new medical technology provides is that it is hard to attribute specific long-term financial figures to a single device or procedure. The largest amount of healthcare savings that consumers will see will stem from a combination of advances. These emerging technologies will focus on every area of healthcare from preventative medications to chronic disease management. Keeping a person healthy for a longer period of time and reducing the impact of medical procedures will eventually reduce costs significantly.

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