Assessing Technology Value
The use of health information technology (HIT) has exploded over the last several years. It is now standard of care in most facilities to use electronic medical records for most all patient encounters. In the field of radiology, digital technology has led to x-rays and CT scans being accessed on computers versus the days of the old radiograph being examined on a light box. Furthermore, access of these records is much easier so that all practitioners involved in the care of the patient can readily examine them.
The use of this technology comes at a very large cost in the development of software, and the use of computer hardware and cloud systems to implement. Furthermore, there is cost in time and training to learn and utilize this technology. When a new system is introduced, how can one tell if the time and complexity to learn and implement the system is worth doing because of the increase benefits in the efficiency and the ability to use medical information? How can one determine if it is a good decision to implement a new technology or continue with the existing system and medical records program?
The analysis of Broad Data, using cost-effectiveness analysis, can give much clarity to such a decision. Using a decision tree model, various aspects of how the HIT affects patient outcomes and decision making can be analyzed and quantified. It looks not only at the costs to the patient, but also incorporates how the decision impacts the health of the patient. Thus, using this analysis can assist on figuring how best to proceed with information gathering and sharing, and how that will impact the patient. It can quantify subjective feelings about how the HIT is implemented and its usefulness, thereby opening up the possibility to have much better informed decision.
Healthcare has entered a new age. In some ways technology appears to have taken over healthcare, but by cleverly analyzing the best was to do this using cost effectiveness analysis can be of great benefit to patients.
If your objective is to provide the best decision-making for your organization and take a global view of your business, expanding your sights beyond ROI, and educating other decision-makers, Cost Effectiveness Analysis can make your organization more competitive and more profitable.