This post The $3 Trillion Dollar Industry Tech Investors Need To Know About appeared first on Daily Reckoning.
What’s the first thing that comes to mind when you hear the names Apple or Samsung?
Smartphones? Computers? Tablets?
Dominating these technologies over the last 10 years made them the tech titans they are today.
But now there’s little room for growth in these markets so tech companies are looking elsewhere…
Apple, Samsung, and a growing list of Big Tech companies are betting their fortunes on addressing the $3 trillion question: How can we fix our broken health care system?
While politicians debate health care policy on Capitol Hill and the media speculate on the winners and losers, the general public is largely unaware of the investments Big Tech is putting into the health space.
In a moment, you’ll see how their bets will unlock value for patients — and huge profit potential for you.
But first let’s take a closer look at the market Apple CEO Tim Cook claims to be the largest growth frontier for his company.
Disrupting a Multitrillion-Dollar Industry
We spend $3 trillion every year on health care.
To say that there are runaway costs is an understatement…
According to a study published in JAMA: The Journal of the American Medical Association, as much as $1 out of every $3 spent on health care is simply wasted away.
That money goes to cover unnecessary fat in the system: excessively high drug prices, duplicated diagnostic tests and unnecessary treatments due to poor communication, among other inefficiencies.
In most markets, companies that don’t create positive outcomes at a reasonable cost go bankrupt.
But the health care industry has been the exception…
Instead of being rewarded for the outcomes of treatments and therapies, health care providers are rewarded for the volume of products and services delivered regardless of their value.
This means that when you walk out of the clinic, your physician is in the dark about your recovery. You’re on your own unless you turn back to the clinic for more tests and prescriptions.
A 2013 report by the Robert Wood Johnson Foundation found that one out of five Medicare recipients who check out of a hospital are readmitted within 30 days.
This costs health care payers $26 billion of which $17 billion is for “return trips that need not happen if patients get the right care.”
As politicians trip over each other to “fix” our health care system, technology innovators are quietly building the systems that could move us closer to increasing access, dropping costs and improving the quality of health care.
Samsung, Apple, Microsoft, IBM and a growing list of Big Tech companies are betting their fortunes on health care by leveraging one of the most valuable commodities: information.
Apple is leading the way in the creation of platforms and devices that arm customers, physicians and even researchers with actionable health data that can prevent medical complications and help measure outcomes wherever the patient may be.
Meanwhile, Samsung is creating next generation medical diagnostic devices that are portable and faster to drive down the time and cost …read more
Source:: Daily Reckoning feed
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