With the majority of health-care costs spent for the treatment of chronic diseases and the reason for most emergency room visits being nonemergencies, the time is ripe for telemedicine. Patients are tapping their phones, tablets, and keyboards instead of making an office visit or trip to the emergency room. Technology makes it possible for doctors to consult with patients through Skype or FaceTime on smartphones, access medical tests via electronic medical records, and send a prescription to a patient’s local pharmacy—all from miles away. The telemedicine industry is still in its infancy, earning only $200 million in annual revenue, but it is predicted to increase to an almost $2 billion industry in just a few years. Technology isn’t the only reason for this industry’s growth. The HITECH Act encouraging electronic medical records is also adding fuel to this fire. In what stage of the product life cycle is telemedicine? What role has mobile technology played in evolution of this industry? Explain
Critical Path Method
The critical path is the longest succession of tasks that has to be successfully completed to conclude a project entirely. The tasks involved in the sequence are called critical activities, as any task getting delayed will result in the whole project getting delayed. To determine the time duration of a project, the critical path has to be identified. The critical path method or CPM is used by project managers to evaluate the least amount of time required to finish each task with the least amount of delay.
Cost Analysis
The entire idea of cost of production or definition of production cost is applied corresponding or we can say that it is related to investment or money cost. Money cost or investment refers to any money expenditure which the firm or supplier or producer undertakes in purchasing or hiring factor of production or factor services.
Inventory Management
Inventory management is the process or system of handling all the goods that an organization owns. In simpler terms, inventory management deals with how a company orders, stores, and uses its goods.
Project Management
Project Management is all about management and optimum utilization of the resources in the best possible manner to develop the software as per the requirement of the client. Here the Project refers to the development of software to meet the end objective of the client by providing the required product or service within a specified Period of time and ensuring high quality. This can be done by managing all the available resources. In short, it can be defined as an application of knowledge, skills, tools, and techniques to meet the objective of the Project. It is the duty of a Project Manager to achieve the objective of the Project as per the specifications given by the client.
With the majority of health-care costs spent for the treatment of chronic diseases and the reason for most emergency room visits being nonemergencies, the time is ripe for telemedicine. Patients are tapping their phones, tablets, and keyboards instead of making an office visit or trip to the emergency room. Technology makes it possible for doctors to consult with patients through Skype or FaceTime on smartphones, access medical tests via electronic medical records, and send a prescription to a patient’s local pharmacy—all from miles away. The telemedicine industry is still in its infancy, earning only $200 million in annual revenue, but it is predicted to increase to an almost $2 billion industry in just a few years. Technology isn’t the only reason for this industry’s growth. The HITECH Act encouraging electronic medical records is also adding fuel to this fire. In what stage of the product life cycle is telemedicine? What role has mobile technology played in evolution of this industry? Explain
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