This 25 page paper is a proposal for investment in a new electronic patient record system, for a hospital. The first part of the paper examines the way in which the investment will help to meet various organizational goals, including cost cutting and patient care. The second part presents a financial case to support the investment, with an NPV and IRR calculation. The bibliography cites 18 sources.
Name of Research Paper File: TS14_TECapERP.rtf
Unformatted Sample Text from the Research Paper:
Financial Goals 15 2.4 Examples of Implementations 16 2.4.1 Advantages 17 2.4.2 Problems 20 Section II 21 Section III 23 3. Financial Case 23 References 28 Section IV (Labeled as section VI, as this was the label in the instructions)
The paper presents a proposal for the implementation of a new electronic patient record system into a hospital. The proposed implementation cost is expected to cost $800,000, this cost is
made up of the cost of software to support the ERP and the cost of hardware in order to bring the existing network up to the required standard and ensure
accessibility to the system, without which it would not be effective as well as the necessary amount for training of the staff and support in the first year. It
is estimated that there will be a saving of 91,400 in the first year alone, and over a ten year period assuming inflation would increase costs by 5% per annum,
which is deemed to be a conservative estimate as inflation in healthcare is renowned for being high, along with an assumed cost of capital of 3%, with this it is
assessed that in saving alone where would be a net saving, over the period (after deduction of the initial investment) $169,071, with an assessed internal rate of return of 4.46%.
This assessment was made using the accounting convention of conservatism. However, a major benefit of the project is the way that this will support many different goals of the
organization and impact across all departments. There project is financially feasible, but it also has the potential to add indirect value in terms of the way it will support quality
of care and increased efficiency, supporting the professional work by reducing the time taken to undertake bureaucratic actions; it has been assessed the nurses and doctors may find up to