“Will technology save the day?” asked Bertha Coombs, a general assignment reporter for CNBC and a moderator of a keynote panel at the 11th Annual World Health Care Congress in National Harbor, Md., on April 8th. She asked the question to Bob Kocher, MD, partner at venture capital firm Venrock.
His response: “Is technology going to save the day? Yes.”
But, he provided a few caveats. Technology that helps providers, who will increasingly bear financial risk for the care they provide, improve efficiency will be highly sought after. Technology that increases healthcare costs with mixed evidence for increased efficacy could face significant challenges.
Technologies poised for growth include those that help providers increase productivity and efficiency (think staffing, patient tracking and supply chain systems, among others) as well as those that help providers adhere to care protocols and evidence-based medicine.
What technologies might face challenges? Providers may be less willing to purchase a “$200 million proton beam, when you’re capitated for prostate cancer,” said Mr. Kocher, by way of example.
While technology does require significant up-front costs, it holds great potential for aiding health systems in driving efficiency and providing better care.
“I feel very optimistic that we’re on a path to lower cost,” said Mr. Kocher. Technology may be the one key driver getting us there.
