Financial model for investment recovery period in electronic health records implementations

Dhumal, Parag, Chalasani, Suresh and Wickramasinghe, Nilmini 2015, Financial model for investment recovery period in electronic health records implementations, International journal of economics and business research, vol. 9, no. 1, pp. 65-79, doi: 10.1504/IJEBR.2015.066015.

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Title Financial model for investment recovery period in electronic health records implementations
Author(s) Dhumal, Parag
Chalasani, Suresh
Wickramasinghe, NilminiORCID iD for Wickramasinghe, Nilmini
Journal name International journal of economics and business research
Volume number 9
Issue number 1
Start page 65
End page 79
Total pages 15
Publisher Inderscience Publishers
Place of publication Geneva, Switzerland
Publication date 2015
ISSN 1756-9850
Keyword(s) electronic health records
investment recovery period
meaningful use
cost benefit analysis
electronic medical records
Summary 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 HER 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.
Language eng
DOI 10.1504/IJEBR.2015.066015
Field of Research 1402 Applied Economics
1503 Business And Management
1505 Marketing
Socio Economic Objective 920208 Health Policy Evaluation
HERDC Research category C1.1 Refereed article in a scholarly journal
ERA Research output type C Journal article
Copyright notice ©2015, Inderscience Publishers
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Document type: Journal Article
Collection: Faculty of Health
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