StudyXY
RegisterLog in

Financial Analysis And Sensitivity Evaluation Of Electronic Medical Record (EMR) Implementation In Healthcare Settings

Evaluate EMR cost impacts with this homework solution.

Victoria Stewart
Contributor
4.5
54
6 months ago
Preview (2 of 4 Pages)
100%
Purchase to unlock

Page 1

Financial Analysis And Sensitivity Evaluation Of Electronic Medical Record (EMR) Implementation In Healthcare Settings - Page 1 preview image

Loading page ...

Financial Analysis and Sensitivity Evaluation of Electronic Medical Record(EMR) Implementation in Healthcare SettingsWhat is Payback Period?Payback period is the time period in which the cost of the project is recovered through thecash generated / cost saved by the project. In simple words it can be understood as if wepurchase a truck worth $100 to lease it out and get $40 every year. If we need to expense $15every year for its insurance and operation, we find that every year we save $40-$15 = $25. So,in four years we may get $100. So, the payback period of this project (truck) is 4 years.A longer payback period is better or a shorter?The shorter it is, the better it is from financial point of view. A shorter payback periodensures that we get our original investment back in a short period.What is ROI?ROI is Return on Investment. A return on investment is usually calculated as a % of netprofit on the investment. Taking the example of the truck, we find that the ROI is $25 on aninvestment of $100, so it is 25%. It may also be presented in absolute dollar term, as $25.What is NPV?NPV is known as net present value. We know that a dollar today in our hand is more thana dollar we haveone year from now. This is because of the interest impact. If we keep the $ inbank for a year, we will get more than a dollar after one year. This is also known as time value ofmoney.

Page 2

Preview Mode

This document has 4 pages. Sign in to access the full document!

Study Now!

XY-Copilot AI
Unlimited Access
Secure Payment
Instant Access
24/7 Support
Document Chat

Document Details

Subject
Healthcare

Related Documents

View all
Solved Assignments

Reflective and Applied Statement

Reflective statement on professional growth as a Home Healthcare Director. Explores leadership theories, followership, systems thinking, and organizational improvement through insights gained in doctoral coursework.

Past Exams

PHR Exploration Worksheet

A guide to understanding, creating, and managing a Personal Health Record (PHR), including benefits, setup steps, access control, and its impact on healthcare and HIM professionals.

Solved Assignments

Discussion 5 Life and Death

Reflection on U.S. healthcare inequalities, political divides, and COVID-19 impacts, highlighting the urgent need for reform and universal access to care.

Solved Assignments

UHDDS in Healthcare Information Management Week 8

Overview of the Uniform Hospital Discharge Data Set (UHDDS), its structure, challenges, compliance importance, and impact on healthcare data quality, billing, and patient outcomes.

Solved Assignments

Healthcare Access and Outcomes U

Compares U.S. healthcare financing and outcomes with other developed countries, highlighting cost barriers, access issues, and the impact of social determinants on population health.

Solved Assignments

The Impact of Social Determinants of Health Discus

Analyzes health disparities in Newark, NJ, highlighting how social determinants like income, education, and insurance access impact chronic illness, obesity, and cancer outcomes.

Class Notes

Wk 3 Discussion Different Types of Insurance

Overview of insurance types like Medicare, Medicaid, Tricare, and Medigap, their pros and cons, and why eligibility knowledge is crucial for accurate medical coding and billing.

Solved Assignments

Policy Proposal Verde Valley Medical Center

A policy proposal to improve cardiac care at Verde Valley Medical Center by meeting benchmarks for faster ECG and aspirin delivery to enhance patient outcomes.

Class Notes

Essential Guide to Hemodynamic Monitoring in Criti

LOS ANGELES County + USC Medical Center Core CC Program: Hemodynamic Monitoring—covers CV physiology, pulmonary artery catheter use (setup, pressures, waveforms, CO measurement) and related clinical indicators.

Solved Assignments

Usability and Information design for Electronic he

This document explores the usability and information design principles of Electronic Health Record (EHR) systems, focusing on improving user experience, system efficiency, and data presentation for healthcare professionals.