...health technologies in the 21st century? New diagnostic techniques have often made it possible to detect disease in time to apply an appropriate therapy. Even in cases of diseases for which no effective preventive or therapeutic measures are available, technologies have aided in relief of pain, amelioration of symptoms, and rehabilitation of individuals affected by chronic conditions (88). Finally, some new technology has increased access to health care, some has reduced the cost of care, and some has improved the outcome of care (45). Health care costs are escalating rapidly. The expanded use of medical technologies is an important factor in the rising costs, imposing economic burdens which cause problems for patients, for their families, and for society. Medical technologies contribute to medical care costs in various ways: Some have large capital investments, some require the use of costly supportive services, some present the possibility or requirement of costly followup care, some establish the need for continued use, some are overused after initial proof of reliability of efficacy (particularly diagnostic technologies), and some are used for inappropriate purposes. (Technology Transfer at the National Institutes of Health, 1982) Discuss the evaluation of medical technologies. Clearly, some evaluation criteria pertain only to “product” technologies, such as devices or drugs. Other evaluation criteria pertain to the medical purpose for which the technology is used...
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...The American Medical Technologist The American Medical Technologist is a nonprofit professional established in 1939. The organization that assists those in the allied health care field: These fields include Medical Technologists, Medical Lab Technicians, Registered Medical Assistants, Registered Phlebotomy Technicians, Registered Dental Assistants, and Allied Health Care Instructors. The organization helps professionals in the above health care fields with professional certification services and membership programs to enhance professional knowledge and personal skills in the specified field chosen. The organization provides continuing education credits and resources to those in the allied health care field. The continuation of educational credits aides’ individuals in keeping certifications and registrations up-to-date. This not only helps keep the certifications and registrations up-to-date it also aides in keeping the individuals knowledgeable in their specific health care field. It provides any information that has changed in the different types of medications, surgical, and any type of medical skills needed in the work environment. Changes are a normal occurrence when working in the allied health care field therefore it is important to keep up with all changes. As a strong believer in continuing education the American Medical Technologist organization provides many sources to members. The sources and services offered are annual conventions to discuss the changes made...
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...• How does medical technology affect the health care cost in the US? Medical technology has affected health care costs in several ways. Acquiring and using new medical technology is costly, its increased use will affect cost, and specialized health care providers are needed to administer the new technology1,2. Cost will also be influenced depending on the size or special accommodations needed to house the new equipment and maintenance of the new technology1,2. However, medical technology can also have an impact on reducing cost2. For example, computed tomography (CT) has significantly reduced the number of exploratory surgeries; leading to reduced costs and better patient outcomes. An additional benefit to technology is the increased life expectance of the US population2. Medical technology can both increase and decrease health care expenditures. The benefits of medical technology can be measured in extended life expectancy, improved patient outcomes, and overall cost and can be measured using the health technology assessment (HTA)1. • What are the factors affecting the pharmaceutical industry that has caused an increase in the cost of...
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...Medical Technology MEDICAL TECHNOLOGY VOL ATILE INDUSTRIES? A SAFE HAVEN for Novumed Spotlight Novumed Spotlight Novumed Spotlight The Benefit of Expansion into Medical Technology financial crisis 2008 2009 2010 2011 Segment comparison at Agilent 2008 - 2011, in US$ M. Source: Agilent annual reports, Novumed Life Science Consulting In 1999, several business units were spun off from global computer technology provider HewlettPackard to form Agilent, with approx. US$ 8 billion in revenues. This spin-off marked the largest initial public offering in the history of Silicon Valley. Initially, Agilent’s revenues came predominantly from the sales of its electronic test & measurement and semiconductor business units. With its strong ties to the communication industry, specifically the internet, Agilent’s stock was valued highly. Despite this high regard, management decided not to focus solely on its core sectors, by creating a life sciences business unit in 2000. A wise decision in retrospect. The life sciences and chemical analysis units now collectively generate half of the company’s sales, and allowed Agilent to remain profitable despite the collapse of the electronic measurement unit’s profits during the financial crisis. As one of many examples, this illustrates the growing importance of the medtech segment, which is gaining attention of industry groups from various sectors. What factors make medical technology so attractive? Which industries...
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...well-wishers and paused to chat warmly by telephone with a former janitor who had called from the United States. Throughout the day, employees greeted “the Chairman” with smiles, hugs, and gifts. Dr. Reddy had founded Apollo Hospitals Madras in 1983 as the first corporate hospital in India. It offered sophisticated treatment in a comprehensive range of medical specialties. Stateof-the-art medical technology, operated by skilled technicians, complemented superior doctors, many of whom had left lucrative jobs in Europe and North America to come to Apollo. Other entrepreneurs had followed Apollo into the market, building several dozen corporate hospitals to compete with Apollo and its government-run forerunners. Since Apollo’s founding, the quality of medical care in India had improved substantially for those who could pay. Despite competition, though, Apollo Hospitals Madras remained a leader in the provision of top-quality medical care and had made a profit for 10 straight years. Reddy had been joined at Apollo by his four daughters, who took prominent roles in the company. Having introduced a new form of medical business to India, the family entered 1995 hoping to expand the availability of Apollo-quality care. The Reddys felt that despite initial troubles, Apollo’s second hospital in Hyderabad was making rapid progress toward profitability. Building more hospitals would take advantage of the company’s experience, but expand its reach only gradually. Therefore...
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...ADVANCED MEDICAL TECHNOLOGY CORP CASE 2. BA 280.1 EXECUTIVE SUMMARY The case analysis focused into determining whether Tom Winter (Western National Bank) shall approve Peter Haskins’ (Advanced Medical Technologies) application for an $8M loan. Advanced Medical Technologies, a young company who has invested in research and development and marketing in its three years of operations (1983-85), is seeking for WNB’s approval of the said loan to fund their growth to 1986. This was despite the fact that the company has already availed of short-term loans from Sunnyvale and two other banks and in all accounts fell short of meeting their responsibilities. On top of this, AMT has also opened itself to Biological Laboratories’ buying of shares and possible merger. Using Tom Winter’s perspective, the 3-year financial statements of AMT was analyzed and revealed that the company’s operating expenses have continually increased over the 1983-85 period, overdrawn credit limit at Sunnyvale. Despite these seemingly negative indicators of AMT’s financial health, the company still presents itself as a strong player in the industry with its Gross Profit (GP) Ratios which increased from 48 to 55% from 1983-853. For AMT to realize its full potential, it must ensure that it has facilities in place to support production. Hence, the group came to a conclusion that Mr.Winter should approve the entire $8M which AMT applied for. Furthermore, so as for WNB to continuously support AMT’s financial needs...
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...Revolutionize in medical technology was not to take over the doctor’s career , it is exist to suited well-rounded time when to treat their patients without any limit and personal physician who are not at the hospital can get fastest result, for example our world revolutionize the robot to become a part of medical technology. The robots work in a checking up for the patient’s health . The robot was designed in the head with flat video screens to facilitate the communication between the patient and the doctor, the video cameras as it eyes and ears to make more easier to interact each other. The robot weighs 200 pound equivalent with 90 kilogram and 5 feet tall equivalent with 1.5 meters. As we know that , the robot can make the checking up more...
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...The Advancement of Technology in the Medical Field Technology in general has greatly improved in the last 50 or 60 years, but especially in the medical field. A lot of what drives the medical field today is computers. Computers have gone from being the size of a small room to being able to fit in the palm of your hand. The first computer was actually a calculator. With the advancements in being able to reduce the size of the integrated circuit or IC chips, also known today as microchips, they have gone from being able to fit a couple transistors on a chip to being able to implement billions of transistors on a single chip about the size of $.50 piece. With this we have really been able to advance the technology in the medical field. We have also been able to improve microscopes to be able to better see inside cells and to identify the different bacteria and viruses that infect humans and other plants and animals. Being able to better identify what is causing an illness, treatment can be greatly improved. Today there are cameras the size of a pill that you can swallow and a computer outside the body records it for the doctor to review. This makes it more appealing to the patients since it is less invasive. Technology in the medical field has come a long way in the past century. We have went from tonics that some Dr. and concocted in his office to being able to perform the major transplants that we can today. 50 years ago people would've never thought that a doctor would be able...
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...“Advances in medicine and agriculture have saved vastly more lives than have been lost in all the wars in history.”- Carl Sagan Advances in medical technology have led to more lives being saved, than lives being lost in all the wars in history. If that statistic is out there including our soldiers, then think about for example, how many lives of soldiers we could save. Advances in medical technology don’t have to necessarily be held off to just citizens within our country’s boundaries, but also our citizens who are fighting and are wounded in combat across the globe. Doctors would not be needed to be flown across the world, instead, we could just send a machine that could do the work instead. Summed up, advances in technology will replace the need for actual doctors. Technology will replace 80% of what doctors do, being the majority of surgeries and advance operations. According to CNN Money and Vinod Khosla, “Much of what physicians do (checkups, testing, diagnosis, prescription, behavior-modification, etc.) can be done better by sensors, passive, and active data collection, and analytics.” Shortened up, machines will be able to do what doctors do, much more efficiently and quickly. They also said, “But, doctors aren’t supposed to just measure. They’re supposed to consume all that data, consider it in context of the latest medical findings and the patients history, and figure out if something is wrong.” Because of human error and the human limitations of memory, machines...
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...CASE CONTEXT Advanced Medical Technology Corporation (AMT) developed, manufactured, and sold scientific medical instruments, needles and catheters that allowed rapid and less invasive access to a number of different organs and vessels. These products represented an alternative to a traditional surgical procedures and allowed analysis or corrective treatment with less risk and trauma and at a lower cost. An example of the products was catheters that could be introduced into a blood vessel and then manipulated through partially closed arteries or into the heart itself. Despite this good trend of sales volume, the company undergone history of operating losses as a result of various factors. This condition conveyed doubt on its ability to meet obligations hindering it to acquire credit line from banks. AMT had experienced extraordinary growth fuelled by heavy spending on research and development and a rapid expansion of its sales force having sales growth in excess of 30 % per year. Sales volume, which had grown continuously from the start, was always large in relation to the capital. On June 2 1983, it established a connection with Biological Labs Inc., which had fallen in catheter and instrumentation technology and abandoned its internal efforts. AMT sold 5% of its outstanding stock for 7 million and the right to purchase additional 13% over 5-year period ending June 1988 for 12 million. Arrangement of a new line credit with Western National...
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...10 Technology used by Medical Technologist 1. Description: A centrifuge is a piece of equipment that puts an object in rotation around a fixed axis (spins it in a circle), applying a potentially strong force perpendicular to the axis of spin (outward). The centrifuge works using the sedimentation principle, where the centripetal acceleration causes denser substances and particles to move outward in the radial direction. At the same time, objects that are less dense are displaced and move to the center. In a laboratory centrifuge that uses sample tubes, the radial acceleration causes denser particles to settle to the bottom of the tube, while low-density substances rise to the top.[1] There are 3 types of centrifuge designed for different applications. Industrial scale centrifuges are commonly used in manufacturing and waste processing to sediment suspended solids, or to separate immiscible liquids. An example is the cream separator found in dairies. Very high speed centrifuges and ultracentrifuges able to provide very high accelerations can separate fine particles down to the nano-scale, and molecules of different masses. Large centrifuges are used to simulate high gravity or acceleration environments (for example, high-G training for test pilots). Medium-sized centrifuges are used in washing machines and at some swimming pools to wring water out of fabrics. Gas centrifuges are used for isotope separation, such as to enrich nuclear fuelfor fissile isotopes. From: https://en...
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...Advanced Medical Technology Corporation (AMT) Background Advanced Medical Technology Corporation, AMT, is a company that develops, manufactures, and sells medical instruments that offer an alternative to traditional surgical procedures at less risk and lower cost. Due to the innovative nature of the company and their need to sustain growth patterns they invest heavily on research and development and in their sales force. At the present time, AMT has been able to grow their sales in excess of 30% annually. However, it should be noted that Peter Haskins, AMT President, believes that the sales trend the company has experienced will continue and if the company fails to meet sales demand it will compromise it’s market position. Thus far, AMT has relied on short term credit, lease agreements, and the establishment of a connection with Biological Labs Inc. to meet the demand for their products and continue R&D patterns. Peter Haskins recently approached our bank because he had become dissatisfied with his loan agreement of $6 million at Sunnyvale Bank. Mr. Haskins explained that Sunnyvale Bank did not make an effort to understand his company and that they had adopted a very restrictive attitude that has limited AMT’s room for expansion. In the body of the memo we will provide the following: a general analysis, financial statement analysis, a review of the 5 C’s of Credit, and an investigation of Biological Labs ability to back AMT. At the conclusion of this memo we...
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...Certificates of Need for Alabama Durby C. Robinson Jr. Florida Institute of Technology Certificates of Need for Alabama When a healthcare practitioner or group of practitioners seek to get together to form a new organization it is a little more difficult than just setting up a regular business. One of the obstacles in this process is obtaining a Certificate of Need (CON). A certificate of need program helps the public by helping to guide facilities to set up where they are most needed and help healthcare practitioners by helping to prevent them from getting into markets already swamped with similar providers (State of Alaska, 2012). The purpose of this paper is to examine the CON process for the state of Alabama by addressing the facilities that require a CON, the steps in the CON process, how to appeal the CON process, and state exemptions to the CON process. Facilities That Require a Certificate of Need There are many different types of facilities that require a certificate of need. There are many actions that make a certificate of need necessary (Research & Planning Consultants, 2014). Construction, establishment, or acquisition of new healthcare facilities, including: general and many specialized hospitals skilled nursing facilities intermediate care facilities specialty care assisted living facilities (SCALFs) skilled or intermediate care units in veterans' homes rehabilitation centers ambulatory surgery centers facilities for End Stage Renal Disease (ESRD)...
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...company that manufactures high-tech medical equipment and devices like CAT Scanners, MRls and pacemakers. Currently, MedDevice earns more than 80% of its annual revenue from U.S. sales. Strategic studies indicate that MedDevice's greatest growth potential in the next decade is in developing its Asian and Southeast Asian markets. MedDevice has investigated the possibility of opening a wholly-owned branch office in Southeast Asia. However, logistical problems, the complexity of local laws, and the diffrculty of breaking into a foreign market that relies heavily on relationships and connections suggests that forming a joint venture may be necessary to gain access to key distribution channels in the region. Lee Medical Supply Lee Medical Supply is a family-owned company employing about 30 people, located in Bangkok, Thailand. Lee Medical specializes in the distribution and sales of medical products including operating tables, hospital beds, X-ray machines, ultrasounds, and a variety of disposable medical supplies like bandages and syringes. Lee Medical Supply has been in operation since 1960 under the ownership and direction of An Lee, who is now 64 years old. To date, Lee Medical Supply has focused its business on distributing equipment and supplies for overseas (mostly American and European) companies. Under such distributorship arrangements, Lee Medical purchases supplies and equipment from manufacturers and then sells them in Thailand. Lee Medical profits from the difference between...
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...Research project title: Designing a database structure system for management hospital information. Field of research: Information system; database structure; hospital information Section B: Aims This project is going to indicate a new database structure model used to manage information in hospital management with respect to utilizing information and communication technology. It will enhance hospital to retrieve, process and achieve all the information in specific health facilities in a security domain. In fact, the database structure is not really considered as an important aspect in patient informational management in hospital. From the synthesis of the results of current hospital, the management of information within the hospital will include: management of patient information, medical information, laboratory data, diagnostic results, treatments, financial, pharmaceutical, medical equipment and general operations of the hospital. There are numbers of documentation in the database, the problem is illustrated that a hospital database management does not have the same synchronization in all fields. Consequently, it is quite difficult for any information activity in the process. To help resolve this situation, our project will develop a new database structure model that can fit most of the hospitals at all levels and to manage large bodies of information...
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