The healthcare industry in the US is enormous, and it is growing continuously with the rising population.Different industries and healthcare firms work to offer high-notch healthcare facilities to the citizens, which eventually results in high raised expenditure over these facilities.
Can Healthcare mobile applications and various other digital means for healthcare somehow reduce the amount of money spent on healthcare facilities? This is a crucial argument, and Yasith Weerasuriya examines and helps find an answer to the current status of the healthcare industry in the US.
Size of US healthcare industry as per Yasith Weerasuriya
The upkeep of the US healthcare industry went as high as $3.8 trillion in the year 2019, or to be more precise, $11,582 per individual, and it is anticipated to go as high as $6.2 trillion by the year 2028. The US healthcare industry expended around 4 trillion dollars in 2020, and it is expected to rise to 8.3 trillion dollars by 2040. One of the main reasons behind the rising expenditure of the healthcare industry is the use of the latest technology in the healthcare sector.
Different areas in the US healthcare industry
The healthcare industry is a combination of various sectors working together to provide healthcare facilities to the patients. The administration, including the doctors and specialists and the entire healthcare faculty, aims to offer the best advice and treatment to the citizens in need. Several areas of the healthcare industry can be listed as follows:
- Drugs and medications.
- Health insurance.
- Healthcare council.
- Healthcare technical department.
- Healthcare business.
Telehealth
We are all living in an era where everything is digital. From e-books, e-commerce, we have now arrived at telehealth. Telehealth makes connecting to the healthcare specialist easier for the people living in rural areas or those who do not have access to conveyance. Telehealth utilizes mobile phones for making video call connections and includes monitoring equipment for patients.This, in turn,helps in avoiding unnecessary visits to hospitals, thereby saving time and energy.
Around one-third of the US adult population depends on telehealth facility and around 63% of the adults use telehealth as a means of preventive measures.
5G in healthcare
The use of 5G networking in healthcare will act as a base for promoting arising healthcare technologies, which will help rediscover the different areas of healthcare. The three most important areas of healthcare that are improving with the use of 5G technology are:
- It improves the cost savings per year of the financial sector.
- It makes access to healthcare facilities easy.
- It also improves patients’ experience.
5G is expected to give a boost of $600 million annual savings in the year 2021.
Final Words
According to Yasith Weerasuriya, The US healthcare industry is one of the largest as compared to many countries, and it uses the latest technologies to offer not onlyits citizens but patients from different countriesthe best possible treatment and prevention from health defects.
