Saturday, April 18, 2009

Medicine, Technology, and the Economy

Thanks to President Obama, Health IT (or HITECH) will play a huge role in helping today's economy recover. Medicine is changing rapidly and there are many new drugs and biologic agents in the pipeline. The FDA has been on the slow side approving new drugs, so sometimes I wonder how that's impacting the economy. Technology is allowing medical device companies to come up with innovative devices to help patients manage their disease. Doctors are getting more sophisticated with the use of medical technology. Small healthcare companies are expected to grow rapidly in the recession. This is especially true for medical companies focused on using information technology. How will they leverage electronic health records (EHRs) or electronic medical records (EMRs) to improve patient care?

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