Former Microsoft CEO Steve Ballmer explained to FOX Business whether technology will continue to see growth in the health care industry.
Ballmer said the health care industry needs to keep developing new ideas, similar to the tech sector.
“Some of the tech that exists today will become obsolete. But there’ll be new technology that will replace them. I’m a great believer in all aspects of technology and economy that, while things do change and that’s disrupted, for every door that closes, another door opens. And the world grows and progresses and things improve,” he said in an interview on FOX Business' Wall Street Week.
Ballmer explained why despite the growing investment in medical technology, the average human lifespan has not grown significantly.
“There’s not the same kind of capitalistic pressure in the healthcare industry to improve products at the right price. The technology is about improving the product as opposed to looking at price value,” Ballmer said.
The former leader of the tech giant thinks the biggest problem when it comes to medical technology is the cost.
“The government structures the industry. It regulates the industry. And it’s the biggest payer in the industry with Medicare, Medicaid, and a bunch of other government programs. I think, in the healthcare industry, the problem isn’t new technology; the problem is, can we deliver new technology and new treatments at costs that are sustainable over time?”