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Title: Financial model for investment recovery period in electronic health records implementations.
Epworth Authors: Wickramasinghe, Nilmini
Other Authors: Dhumal, Parag
Chalasani, Suresh
Keywords: Electronic Health Records
Investment Recovery Period
Meaningful Use
Cost Benefit Analysis
Electronic Medical Records
Financial Models
Tax Incentives
Healthcare Technology
Patient Records
Health Records, Personal
Chair of Healthcare Information, Epworth HealthCare, Melbourne, Victoria, Australia
Issue Date: Jan-2014
Publisher: Inderscience Online
Citation: Int. J. Economics and Business Research, Vol. 9, No. 1, 2015, pages 65-79.
Abstract: Technology usage for better healthcare delivery is being emphasised in the USA and other advanced nations. Electronic health records (EHR) are being widely seen as improving operational efficiency and reducing medication errors in clinic practices and hospitals. Further, hospitals and clinics stand to gain incentives from the federal government if they implement EHRs and demonstrate meaningful use of EHRs. While numerous other aspects of EHR implementations is found in literature, financial models have not been well studied. Before implementing EHR, one must take into consideration investment recovery period considering the costs, savings and possible tax incentives. In this paper, we develop financial model for computing investment recovery period in EHR implementations assuming constant patient visits. We further develop required growth rate formula if investments need to be recovered in fixed number of years. The model is illustrated with numerical example.
Description: Not in PubMed.
DOI: 10.1504/IJEBR.2015.066015
ISSN: 1756-9869
Journal Title: International Journal of Economics and Business Research
Type: Journal Article
Affiliated Organisations: School of Business, IT and Logistics, Health Innovations Research Institute (HIRi) , RMIT University, Melbourne, Australia
College of Business, Economics and Computing, University of Wisconsin-Parkside, Kenosha, USA
Appears in Collections:Health Informatics

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