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Information technology: doing more, spending less.

T M Honan1, V G Ciotti

  • 1HIS Professionals, Santa Fe, New Mexico, USA.

Healthcare Financial Management : Journal of the Healthcare Financial Management Association
|August 1, 2000
PubMed
Summary
This summary is machine-generated.

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Hospitals often struggle to maximize information technology (IT) benefits due to inefficient spending on consultants and unproven technology. Financial executives must carefully review IT investments and contracts for better return on investment.

Area of Science:

  • Healthcare Management
  • Health Informatics
  • Information Technology in Healthcare

Background:

  • Hospitals face financial constraints impacting IT investments.
  • Inefficient IT spending hinders the realization of technology benefits.

Purpose of the Study:

  • To identify common pitfalls in hospital IT financial management.
  • To guide healthcare finance executives in optimizing IT expenditures.

Main Methods:

  • Analysis of common hospital IT financial mismanagement practices.
  • Review of strategies for evaluating IT investment proposals.

Main Results:

  • Funds are wasted on long-term consultants and unproven technologies.
  • Overstaffing or understaffing IT departments leads to inefficiencies.

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  • Lack of rigorous ROI evaluation for IT projects is prevalent.

    • Conclusions:

    • Healthcare finance executives must critically assess IT spending.
    • Auditing IT contracts and invoices is crucial for cost control.
    • Strategic financial oversight is necessary for successful IT implementation in hospitals.