Between 20% and 50% — by some estimates, that’s the percentage of waste from inefficiency in the U.S. healthcare system. Put in dollars, the Institute of Medicine estimates $765 billion (that’s with a B) or 31% of the $2.5 trillion U.S. health spending can be attributed to “excessive costs.”1
That’s a major problem. Duplicate, inefficient and costly care may not surprise anyone who’s been a patient and had the same tests repeated over and over by different providers.
So what’s a solution?
Technology could remove a lot of the inefficiency and waste in the system, industry experts said at the University of Miami LIFE 2015 Panel on Innovation Technology.