High Cost of Healthcare Calls for New Technologies

healthcare medical devicesThe unacceptably high cost of healthcare calls for new technologies to make medicine more accessible and affordable as well as to face the challenges of an aging population. However, the overarching tenet remains patient safety, and government regulations ensure that medical products and treatments will do no harm despite the large human variability. But at what price? The years-long R&D and approval cycle drives up medical costs. The good news is that the industry benefits significantly from global rapid technology innovation, leveraging high-tech advances from miniaturization to wireless to intelligent software. Continue reading