The Economic Perspective: “Reducing Health Care Costs”

Mary: This is Mary Walden with economist MW, welcoming you to the economic
perspective. Today’s program looks at reducing health care costs. Mike, the
affordability of health care is a continuing issue in our country. Solutions tend to focus
on changing health insurance and involvement of government in the health care market.
But are there other ideas that work to change health care in a different way?
Mike: Summary Answer
a. Yes – technology
b. Technology has been used to make many sectors more affordable – farming
c. Two ideas for health care
d. One – monitoring – having health care data from patients sent to doctors on
a regular basis – will alert them to problems before become critical, and
when can be addressed with less costly means
e. Two – use of AI – use data to do preliminary diagnoses – saves time and
money for physicians
f. These methods will soon be coming
g. I’m MW
Mary: And I’m Mary Walden for the Economic Perspective, an NC State Extension
program from the Department of Agricultural and Resource Economics