White paper written by Jim B-Reay, Aspen Advisors Abstract: As hospitals make significant investments in electronic medical record (EMR) technology, along with related updates to hospital billing, materials management, costing, and quality systems, they typically find that the promised analytics and reporting are not adequate. To tie together data from these disparate systems and even to optimize access to data within an integrated system, a Business Intelligence (BI) strategy is
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How to Measure the ROI of Healthcare Technology
Measuring ROI can be broken down into soft costs -- such as patient satisfaction and provider stress -- and hard costs -- those that can be calculated to show a financial return, like improved patient throughput, reducing errors, limiting provider liability and improving cash flow by stimulating faster reimbursements. It's not uncommon to hear about significant returns in the millions thanks to better coding processes and prescription error reduction. At one Massachusetts hospital network,
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