The economic principle I will be focusing on is "because of scarcity, people choose. All choices have an opportunity cost. The article I am using to encompass this topic is written by Andrea Smith from the Chiron Health company, entitled "Which Types of Visits Are Perfect for Virtual Care?" This article helps me explore the topic of how people choose healthcare options as technology in medicine increases tremendously. People have options to treat certain diseases in an easily accessible way--the Internet.
While most would say that medicine is an area that is not usually treated online and requires person-to-person interaction, there are a number of methods that are suitable for meeting the standard of care through online sites. According to the article, "there are a number of types of interactions where virtual care using telemedicine technology can be more efficient for provider and patient alike, while still getting the best possible outcome" (Smith). Although it is evident that, for example, surgeries cannot be administered via Web, medication management, chronic disease management, lifestyle coaching, sharing test results, Medicare Chronic Care Management (CCM), new parenting questions, and other video appointment opportunities are all virtual web friendly. Many doctors and patients are coming to the realization that with this modern telemedicine implementation, not every interaction requires an in-person visit, and in many cases virtual practices can save time and lower costs for everyone. This serves as a win-win for both doctor and patients.
The next question I will be researching is "how will online medicine save time and money for patients?"
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