Can Information Technology Cut Healthcare Costs?
As U.S. President Barack Obama refocuses efforts on universal healthcare, the burdensome question of how to fund it all returns. But without a handle on the rising costs in the current healthcare system, the possibility for new coverage seems a pipedream. A recent report from the Board of Trustees of Social Security and Medicare indicates that the trust fund supporting the federal Medicare program will be insolvent in 2019—a full seven years sooner than previously projected. Additional statistics indicate just how dire the healthcare cost situation is becoming. According to figures from the White House, “the U.S. spent approximately $2.2 trillion on healthcare in 2007, or $7,421 per person—nearly twice the average of other developed nations.” Statistics from the Congressional Budget Office estimate that by 2025, “one out of every four dollars in our national economy will be tied up in the health system.” With U.S. healthcare expenses and health insurance premiums skyrocketing in respon
