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Cost modeling to justify technology acquisitions.

J Vanden Brink1, S Gray

  • 1Technology Marketing Group, Des Plaines, IL, USA.

Healthcare Financial Management : Journal of the Healthcare Financial Management Association
|May 7, 1997
PubMed
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Healthcare technology acquisitions require justification due to diminishing resources. Cost modeling analyzes current costs and future savings to evaluate financial impact, providing economic advantages.

Area of Science:

  • Health economics
  • Healthcare management
  • Technology assessment

Background:

  • Healthcare resources are diminishing, necessitating careful justification for new technology acquisitions.
  • Evaluating the financial implications of new technologies is crucial for healthcare providers and integrated delivery systems.

Purpose of the Study:

  • To present cost modeling as a methodology for evaluating the financial impact of technology acquisitions.
  • To guide healthcare providers in justifying new technology investments.

Main Methods:

  • Implementing a cost modeling methodology.
  • Involves meticulous data collection.
  • Requires thorough analysis of current costs and projected future savings.

Main Results:

Related Experiment Videos

  • Cost modeling provides a framework for financial impact assessment.
  • Identifies both current expenditures and future cost reductions.
  • Enables data-driven decisions regarding technology adoption.

Conclusions:

  • Cost modeling is an effective tool for justifying technology acquisitions in resource-constrained environments.
  • Providers can gain competitive and economic advantages through rigorous cost-value analysis.
  • Informed financial evaluation supports strategic technology investments.