HLTHAGE 2F03 Lecture Notes - Lecture 14: Prescription Drug
22 Mar 2018
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Document Summary
Technical progress in health - care and cure. More progress in cure than care: care is the task of observing and providing support. Itc/robots and evidence-based decision making tools: cure is the task of actually performing something: it can be more easily supplemented or substituted for by machines and robots (cameras), and molecules. Cure is the activity in health care where productivity gains are possible (and potentially large). Effect of technical progress on cost - substitution and expansion. Technological progress does two things: cuts (cid:272)osts per ser(cid:448)i(cid:272)e pro(cid:448)ided (cid:894)(cid:862)su(cid:271)stitutio(cid:374) effe(cid:272)t(cid:863)(cid:895, i(cid:374)(cid:272)reases de(cid:373)a(cid:374)d for ser(cid:448)i(cid:272)es (cid:894)(cid:862)expa(cid:374)sio(cid:374) effe(cid:272)t(cid:863) through lo(cid:449)er u(cid:374)it (cid:272)osts a(cid:374)d/or better quality. Prescription drug use is rising, and the cost of new drugs is increasing rapidly. National prescription drug spending rose 11. 1 percent between. Utilization of hospital services and medical technology is rising. Outpatient hospital care spending grew 15 percent from 1998-2001. Inpatient hospital care jumped 5. 9 percent during the same period.
