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Meaningful Health Care Informatics Blog

Nov 6 2011   10:02PM GMT

Steps to take in order to have a measurable ROI from new technology

Posted by: RedaChouffani
Investment, ROI, Technology investments

As many often wonder, how can we acurately determine the ROI of tools and technology in health care? Ultimately, the ROI is highest whenever the focus is not on the technology itself, but instead on how it is going to improve care, efficiencies and workflows throughout the system.

Technology must be looked at as an investment, and one must ensure that its impact can be measured. There are several steps that can be taken to ensure that technology is implemented properly so it can positively impact the health organization at all of its different branches. The following is a list of items that must been considered as part of selecting and implementing technologies:

·Involve the different departments when evaluating and discussing technology design and implementation strategies

·Collect data to measure the outcome of the implemented technology

·Select and design technology around the people who utilize and benefit from it, such as patients and staff to help streamline their workflows and processes

·Implement what is needed, and not all the bells and whistles that may not have a direct impact

·Innovate when no third party products are available through custom development, when/if possible

·Evaluate all the positives and negatives of implementing potential solutions

·Invest resources to review existing processes prior to evaluating any new technology or vendor

As technology continues to improve and new products continue to hit the shelves, selecting the appropriate solution becomes a bigger challenge. And with shrinking budgets and the constant threat of another recession, the need for the right technology becomes even more critical, and having tangible and measurable returns will continue to be the key component of evaluating the success of the selection and implementation decisions that are made.

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