Hcs 571 Essay

3296 WordsMar 16, 201314 Pages
Capital Project HCS/571 Capital assets are generally purchased to improve quality of care, or to provide needed equipment for a new service or expansion of an existing service. The key element in capital budgeting is that the building or piece of equipment being acquired has a lifetime that extends beyond the year of purchase and it is a capital asset or long-term investment for the hospital. Capital assets are good financial investments for the organization.(Finkler, Ward, & Baker, 2007). The Electronic health record software system is one of the important operational priorities in the US healthcare. The change from paper-based record system to electronic record system supported by technologies and help for reducing errors and…show more content…
(McCarthy & Eastman, 2010). Cost containment The software related Electronic health record implementation need to be appropriate for the needs of the organization and budget.(Swab, & Ciotti, 2010) The EHR software system has many areas of market depending upon the size of the hospital bed size. The first criteria for the vendors according to the bed with 100 and small hospital The Electronic health record system cost about between $ 1 million and 2 for the electronic health record system The electronic health record software cost for the organization about medium hospital cost is much larger than the first one. It comes around three to ten million. The hospital and organization with more than average bed cost for the electronic health record system will be higher amount than the other one. The cost and amount of electronic health record system will depend upon the size of the hospital . The management has to decide about the budget for the organization. (Swab, & Ciotti, 2010). The organization must evaluate its mission and goals in light of its particular strengths and weakness and in light of the demand for services and competition in the external environment. Based on that evaluation it can make a plan that will take advantage of opportunities like Electronic health record implementation according to the goals of an organization.(Finkler, Ward, & Baker, 2007). The

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