Why cutting-edge medical technology may not lead to exploding health care costs
Sophisticated medical imaging is often cited as a leading driver of health care costs. The increasing availability of techniques such as computed tomography (CT), magnetic resonance imaging (MRI) and positron emission tomography (PET), while aiding large number of patients, has also made the treatment of disease and injury more expensive.But as a new study co-authored by an MIT economist observes, the growth of such cutting-edge medical imaging procedures has slowed, suggesting that the diffusion of technology does not necessarily lead to steadily increasing health care costs. Instead, in the paper — “The Sharp Slowdown In Growth Of Medical Imaging,” published this week in the August issue of the journal Health Affairs — MIT economist Frank Levy and David W. Lee of GE Healthcare suggest that a more selective use of high-end imaging is evolving within the medical profession. This transformation is likely due to the changing structure of insurance plans...