Healthcare Technology and Its Impact on Estate Planning

New technology in health care has brought about an astounding number of changes and new possibilities for modern society. Not only have recent innovations led to improvements in health care, it’s led to advancements in closely related fields, such as estate planning. Keep reading to learn about the latest innovations in health care technology, and how you can capture their benefits and maximize the efficacy of your estate plan.

3 Ways New Technology in Health Care Can Make Your Estate Planning Process Simpler

It seems like there’s new technology in health care being announced every day. Whether it’s artificial intelligence, nanotechnology, or blockchain technology, new frontiers are constantly being discovered. Thanks to these innovations, industries like estate planning are also being revolutionized, making them even more simple and accessible than ever. Here are 3 ways healthcare technologies support the estate planning process:

1. Easily Accessible Medical Records

Thanks to Software as a Service (SaaS) technology, patients can now access their medical records more easily than ever. Before, you had to visit your doctor and request copies of your medical records. If you were to move or switch healthcare providers, you would have to obtain and provide copies of your own medical records, or make phone calls to arrange for the release and transfer of records. As you might imagine, medical records were often lost or had big gaps because of how much trouble it took to keep track. 

Now, patients and healthcare providers alike can log into central platforms and securely access all medical records in one place. Digitized and centrally-stored files are readily accessible, transferrable, and secured, no matter where a patient might go. 

This has helped improve the estate planning experience in a significant way. When preparing your Trust or Will, you no longer have to keep requesting copies of your medical records from the doctor to keep them updated. Instead, you can easily access your medical records on your own. What’s more, you can provide the credentials to your medical portal in your estate plan, so that your power of healthcare attorney can access your most-up-to-date medical records at any time.

2. Widespread Availability of Health Resources

Thanks to the internet age, health care information and resources are readily available to the general public. These resources are made available by healthcare practitioners, health coaches, scientists, researchers, and many others. Examples of health care resources include healthy eating plans, diabetes prevention, holistic wellness, nutrition, and other types of great preventative health care. 

Many patients can also now access live medical advice using artificial intelligence (chatbots), live chat support, and telehealth. The impacts of COVID-19 have brought the availability of these resources to light, and individuals are now using telehealth and teletherapy more than ever. 

The point being, thanks to health care technology improvements, information and resources are now more readily accessible than ever. This is allowing the general public to take care of their health in an increasingly preventative manner, rather than in a reactionary manner. Be sure to check out resources regarding the importance of integrating your health care into your estate planning process.

3. Online Trust & Will Creation Platforms

In the past, individuals had no other option than to enlist the help of an attorney to create an estate plan. The process was both confusing and costly.

Thanks to the internet, individuals can now find educational resources on why an estate plan is important, what it entails, and how to set one up. Services like Trust & Will offer platforms that have revolutionized the estate planning industry. Clients can access these portals and create Trusts and Wills entirely online, using user-friendly interfaces. Today, estate planning is a simple, affordable, and streamlined process, thanks to technology. Anyone can now log on and start protecting their legacy at several clicks of a button. 

In Summary: How Has Technology Improved Health Care?

The internet has provided the public with information, knowledge and resources. Technology has created a greater accessibility to important documents and records. Together, new technology in health care has brought about the accessibility of medical records, the availability of health resources, and the creation of Trust and Will creation platforms. In other words, technology improvements have paved the way to help make estate planning more simple and accessible than ever. 

The digitization of health records alone have had a large impact on the estate planning industry. When individuals create a plan for their preventative health and end-of-life care, they’ll find that they no longer have to stress over having to constantly maintain and update paper healthcare records. 

Now, both the individual and their power of attorney can easily access the most up-to-date medical records in one place, at the click of a button. The transfer of healthcare information has become relatively painless, and can be passed down from generation to generation without a hitch. If you’re curious, you should see for yourself!