Cashing in: cost-benefit analysis framework for digital hospitals.

Area of Science:

• Health Informatics
• Health Economics
• Digital Health Evaluation

Background:

• Electronic Medical Records (EMR) implementation presents significant costs for countries outside the USA, necessitating robust evaluation of public investment.
• Measuring the return on investment for EMRs is challenging due to the absence of standardized evaluation frameworks.
• Assessing EMR value is crucial for efficient allocation of healthcare resources.

Purpose of the Study:

• To develop an evidence-based digital health cost-benefit analysis (eHealth-CBA) framework.
• To calculate the total economic value of EMR implementation over time.
• To guide decision-making regarding public investment in digital health technologies.

Main Methods:

• A three-stage process was developed, integrating healthcare system complexity, investment appraisal practices, and EMR implementation knowledge.
• Stages included a comprehensive literature review, extensive stakeholder consultation, and the development of the CBA framework.
• The framework maps EMR impacts to the quadruple aim of healthcare, providing a clear method for value assessment.

Main Results:

• A novel eHealth-CBA framework was successfully developed.
• The framework quantifies the economic value of EMRs, distinguishing between financial and broader economic impacts.
• Positive net benefits suggest improved healthcare efficiency; negative net benefits indicate potential resource waste.

Conclusions:

• The proposed framework is a foundational step towards comprehensive EMR evaluation.
• It empowers health decision-makers with tools to assess the economic value of digital health investments.
• This approach moves beyond purely financial metrics to a holistic economic valuation of EMRs.