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Costs, needs must be balanced when buying computer systems.

G M Krantz, J J Doyle, S G Stone

    Healthcare Financial Management : Journal of the Healthcare Financial Management Association
    |May 9, 1989
    PubMed
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    Choosing a healthcare information system requires careful analysis of needs and costs. A New Jersey hospital found contracting with a regional data center to be the most financially sound decision.

    Area of Science:

    • Healthcare Informatics
    • Health Information Systems
    • Hospital Financial Management

    Background:

    • Selecting an information system is a critical decision for healthcare institutions.
    • Financial viability is paramount, as cost overruns can severely impact hospital finances.

    Purpose of the Study:

    • To evaluate the process of selecting an information system for a healthcare institution.
    • To determine the optimal approach for managing information system costs and financial risks.

    Main Methods:

    • A comprehensive internal needs and external requirements assessment was conducted.
    • A thorough cost-benefit analysis of potential information system solutions was performed.
    • A case study approach focusing on a New Jersey hospital's decision-making process was utilized.

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    Main Results:

    • Significant computer cost overruns pose a substantial risk to hospital finances.
    • A detailed examination of institutional needs and external factors is essential prior to system selection.
    • Contracting with a regional data center emerged as the most advantageous option for the studied hospital.

    Conclusions:

    • Healthcare institutions must prioritize financial due diligence when selecting information systems.
    • Strategic partnerships, such as with regional data centers, can mitigate financial risks associated with information system implementation.
    • Informed decision-making, balancing needs with financial realities, is key to successful healthcare IT adoption.