Today, the global population has surpassed 7 billion. This expansion has come with a high cost for the world’s finite resources. The healthcare industry is one of the most expensive industries to run and maintain. Cost is not the only consideration when evaluating an industry. The type of care, quality, and accessibility all play a role in deciding whether or not to enter this field. Furthermore, the type of care provided will significantly impact the population’s quality of life.
The Aging population
The population of the world is aging. It means that more people are over 65 than under that age. This change in demographics brings a rise in healthcare costs and resources. Many older people have chronic diseases like diabetes, arthritis, and heart disease that require constant monitoring and treatment. The healthcare industry must be prepared for this change. Many factors contribute to the aging population’s health concerns, including; lifestyle, diet, and exercise.
Creativity and Competition
The healthcare industry is one of the most competitive fields in the world. Competition is essential to stay afloat and to remain profitable. The healthcare market is very competitive because many companies compete for the same customers. There are many different types of medical insurance that people can purchase, which provide extensive coverage to Americans. Other factors contribute to the competition. Technology, such as genetic testing and medical imaging, has made it possible for physicians to diagnose illnesses much earlier than they could.
Technology Advancements
Technology has changed the way that doctors diagnose and treat patients. Technology has made it possible to create various tests performed at a doctor’s office. Doctors can perform simple blood tests, such as an EKG, MRI, and x-ray. Technology has also enabled doctors to perform more complex tests that used to be done in hospitals or specialty clinics. Technology has been helpful in the diagnosis of cancer by allowing physicians to detect certain mutations in tumor cells.
Healthcare is a very important part of our society, and we must continue to improve and expand upon our system of health care. The healthcare industry is constantly evolving and changing. For the industry to continue to thrive in the future, several challenges need to be addressed. The challenge that needs to be addressed relates to the costs associated with healthcare and healthcare policy changes.