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Health Care Trends in the United States and Implications on Financial Planning

Health care, like all commodities, is liable to change and improvement over time. The advent of technology has been embraced by many market segments in the United States and the health care sector has not been left behind. The use of technology in the efficient provision of health services to consumers has been on an upward trend. Among the healthcare trends in the US is the use of wearable medical devices for remote monitoring of patients’ vital parameters such as blood glucose for diabetics, blood pressure for hypertensive patients just to mention. These devices have made it easier for clinicians to adequately monitor their patients without the need for their physical presence at the clinics. The use of big data and artificial intelligence in the prediction of medical trends in terms of disease patterns is also being seen in some of the big hospitals in the country. Such predictions improve the speed of decision making for physicians and hospitals at large. It would have been wiser to concentrate on one specific and narrow trend. If it is use of wearable devices, let it be that and focus on its implication. You have mixed several issues: wearable devices, mara big data, and the subheading below is all too general: implication of technology. This is broad. A specific trend in the application of technology would be appropriate: e.g. use of wearable devices. Assuming it is a trend in the US.

Implications of Technology In Financial Planning and Decision Making in Health Care Organizations

Current applications of technology (be narrow. The paper is short. When you write broadly like this, it implies you are missing the point. Write on the implication of the trend you would have identified) such as the use of hospital management systems and electronic health records improve the efficiency and speed of decision making within hospitals. Acquisition and retrieval of pertinent patient data can be done from many points within the hospital provided the information systems are adequately networked. This works because once a patient’s information is keyed into the system at admission; all departments that are involved in the management of the patient such as the pharmacy and accounts can all access the same data and make decisions without requiring the physical presence of the patient (Santilli, & Vogenberg, 2015). Improvement in the efficiency of health service delivery leads to improvement in quality and increased turnover of patients which translates to improved revenues for the health center. Additionally, hospital inventory management using dedicated software enables proper financial management of the hospital’s assets and thus improves financial planning and security