How Technology Improves The Overall Clinical And Operational Expenses For Healthcare

1308 Words6 Pages
This topic is important to me, because healthcare industry is ever-evolving, there are medical devices developed to help patients maintain their well-being at home and keep them out of hospital settings. Innovative technology is convenient for doctors and clinician to utilize, because there are some medical devices that assist the clinicians and surgeons. As a result, this makes the medical procedures safer and invasive and reduces patient recovery times. Furthermore, technology improves the overall clinical and operational expenses for healthcare providers. It is important for hospital and clinicians to purchase or lease innovative medical equipment that reduces procedure times, and provide efficient and accurate outcomes while…show more content…
Clinics are more specialized to treat a particular disease and/or condition. Therefore, it is essential to understand the reimbursement policies that set by the Centers for Medicare and Medicaid Services (CMS) and private insurers, the cumulative impact of hospitals’ technology investment decisions shapes health care for decades. Innovative technologies are emerging that offer medical benefit, but require substantial capital investment pose a challenge to hospitals and hospital-based health systems, whose leaders make most purchasing decisions independently of one another (M. Coye, J. Kell , 2016). A thorough financial analysis, it is essential to identify the estimated incremental cash flows related to the investment (the additional expenses and revenues that you will see as a result of the investment), which can show you how a particular investment will improve your overall business performance rather than just whether a particular investment will make a profit on its own. In the past five years, hospital leaders have experienced barriers to effectively perform capital planning, because new technologies have become more complex and challenging to evaluate, disruptive technologies change existing business models or work processes—estimating the impact of clinical programs, operating costs, and workforce and facility
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