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The return on investment for information technology
1Department of Anesthesia & Critical Care, Massachusetts General Hospital, Boston 02114, USA. bergeron@hstbme.mit.edu
The Journal of Medical Practice Management : MPM
|January 6, 2000
Summary
Healthcare organizations are increasingly investing in information technology. Economic pressures necessitate quantitative analysis of IT benefits for improved staff productivity and patient care.
Area of Science:
- Health Informatics
- Healthcare Management
- Health Economics
Background:
- Information technology (IT) represents a significant and growing cost in modern healthcare.
- Traditional business practices rely on quantitative return on investment (ROI) analysis for technology adoption.
- The healthcare sector has historically underutilized quantitative methods for evaluating IT benefits.
Purpose of the Study:
- To highlight the lag in quantitative analysis of IT benefits within the medical community.
- To emphasize the growing need for economic justification of healthcare IT investments.
- To explore how IT investments can enhance staff productivity and ultimately improve patient care.
Main Methods:
- This study is a conceptual analysis and literature review.
- It examines the current state of IT investment in healthcare.
- It discusses the principles of ROI analysis and their applicability to healthcare IT.
Main Results:
- Healthcare organizations are facing economic pressures to justify IT spending.
- A gap exists in the quantitative assessment of IT's impact on healthcare outcomes.
- Effective IT implementation is crucial for boosting staff productivity.
Conclusions:
- Healthcare must adopt quantitative ROI analyses for IT investments.
- Strategic application of IT is essential for optimizing resources.
- Improved staff productivity through IT leads to enhanced patient care outcomes.