Technology can change American’s health future soon. By 2020, fully one-fifth of U.S. gross domestic product will be spent on health. Amazon, Apple, Google and others have increased participation in the health sector.
Personalized medicine based on a patient’s DNA, is also rapidly advancing. Alongside the development of faster diagnostic tests such as liquid biopsy, medical providers will be able to make rapid treatment and provide better outcomes.
A new wave of digital medical technology is also emerging. Remote connectivity, “internet of things” devices, virtual and augmented reality, artificial intelligence, robotics and 3D printing are just a few of the new technologies. They have transforming provider capabilities.
The rapid growth of electronic health records and new health data sources such as wearables is creating new troves of health data.
This will fuel machine learning, pairing with advances in artificial intelligence and delivering new diagnostic insights. IBM CEO Ginny Rometty has claimed that Watson, the company’s proprietary AI, will soon “be able to address, diagnose, and treat 80 percent of what causes 80 percent of the cancers in the world.”
All of these developments in health technology will ultimately benefit patients. They have the potential to reduce cost of care. There is an existing, clear correlation between economic inequality and disparity in U.S. health care outcomes. The richest 1 percent of American men lives 15 years longer than the poorest 1 percent.