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Clinical ROI: not just costs versus benefits
1bchaiken@docsnetwork.com
Journal of Healthcare Information Management : JHIM
|October 16, 2003
Summary
Return on investment (ROI) for clinical information systems depends on organizational values. Investing in these tools is essential for patient safety and quality, representing a necessary cost of doing business.
Area of Science:
- Health Informatics
- Health Economics
Background:
- Clinical information systems (CIS) offer potential benefits, but their financial justification is complex.
- ROI calculations for CIS are influenced by organizational priorities and strategic goals.
Purpose of the Study:
- To analyze the factors influencing ROI calculations for clinical information systems.
- To frame investment in CIS as a fundamental cost for safe hospital operations.
Main Methods:
- Review of economic modeling principles for intangible benefits.
- Analysis of organizational drivers in CIS investment decisions.
Main Results:
- Sophisticated economic modeling can quantify benefits, but strategic alignment is paramount for ROI.
- CIS investment is increasingly viewed as a mandatory operational expense.
Conclusions:
- The true value of CIS lies in their role in ensuring quality and patient safety.
- Hospitals must adopt CIS as a baseline requirement for safe and effective functioning, irrespective of traditional ROI metrics.