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Return on Information

February 25, 2009
by root
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Whether you evaluate projects using return on investment or some other measure, learning about the following strategies is sound business

It won't start with talk of ROI, because in the first phase of cost cutting, it's all about reducing the expense total on your 2009 budget, period (“Cut 20 percent off your budget and resend me the Excel file.”)

ROI might not even be discussed during phase two, when your boss, a bit more apologetically, may ask for another 10 percent off the top (“Move the desktop refresh to next year, forget about training for your staff, and how about attending the CHIME conference virtually?”)

It's probably around phase three when the ROI of a project will matter. Negotiation in this phase doesn't take place over e-mail or a phone call, but rather in the conference room with your CEO and CFO. (“OK, this is going to take awhile. Someone, order wraps.”) It's at that meeting where a sound case for return on investment can hold sway.

To that end, we've produced a package of eight ROI-friendly projects and technologies that might help you depart that meeting with more than just your dignity. It's clear that times are going to be tough for a while, and appreciating the old adage of ‘knowing which battles to fight’ will be a salient quality of success. We suggest that when it comes to the following eight projects, you'll be standing on solid ground. Good luck. - A.G.

Page 20 A Competitive Edge - Core Clinicals with a Real Return

Page 24 Waste Management - Using Quality Improvement to Save Dollars

Page 28 On the Outs - To Outsource or to Insource?

Page 32 Who Are You? - Advanced Patient Authentication

Page 36 Evenflow - Avoiding Bottlenecks to Maximize Efficiency

Page 39 A Clear Case - Case Management and the Bottom Line

Page 42 Follow That Pump - Tracking the Savings

Page 44 Blade Runner - Server Management Gets Lean

Healthcare Informatics 2009 March;26(3):18-19