Impact of Evolving Business Trends on System Improvement Decisions
Costs and Benefits of not Implementing an Updated System
Vila Health’s structure and healthcare procedures will be considerably improved as information systems are modernized. Some businesses may decide against implementing a new information management system. Vila Health will be forced to deal with obsolete technology if it does not modernize its information system (Moran et al., 2020). Furthermore, the Vila Health EHR he is presently using will expire, and maintaining a health record without the need for an ongoing EHR will be challenging for the business. Vila Health will need to pay staff to keep paper records and existing EHRs up to date until they are no longer functional. Furthermore, failing to adopt the new system will result in more work teams for employees and a reduction in productivity.
Impact of Evolving Business Trends on System Improvement Decisions
Health is always changing and evolving. It was difficult to conduct a study before the emergence of technology. The majority of the study is based on information gathered by states, states, and counties (Mishan & Quah, 2020). Electronically storing patient data boosts data availability, allowing for greater quantitative analysis to aid in the identification of evidence-based best practices.
Recommended Plan of Action
Vila Health must install a new HIS based on the cost-benefit analysis, not just to link all of the institutions, but also to see what influence it might have on income and patient care. A new HIS is expected to generate increasing benefits each year that would start from $28,000 on the first year and $76,400 by the end of the fifth year.The total benefits would total to 244,800 at the end of the five years. This would result in a net benefit of $130,800 at the clinic. This implies that the project would add value and revenue at the clinic.In addition to generating income, the HIS will enhance patient care by reducing overtime, reducing errors and readmission with access to applications that assist them in making critical health-care choices.
Conclusion
A cost-benefit analysis is an important part of the decision-making process in a health-care organization because it looks at the potential profits or losses that could arise from certain project decisions. The decision to adopt a new HIS at Vila Health is not an easy one, since there are numerous financial factors to consider. The associated cost-benefit analysis sheds light on the possible revenue gained as a result of this deployment. It is advised that Vila Health proceed through with a fresh HIS deployment at this time.
References
HealthIT.gov (2014). How much is this going to cost me? Retrieved from https://www.healthit.gov/faq/how-much-going-cost-me
Mishan, E. J., & Quah, E. (2020). Cost-benefit analysis.New York, NY: Routledge.
Moran, D., Wu, A. W., Connors, C., Chappidi, M. R., Sreedhara, S. K., Selter, J. H., &Padula, W. V. (2020). Cost-benefit analysis of a support program for nursing staff. Journal of Patient Safety, 16(4), e250-e254.
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