“I attended a healthcare event last year that needs to remain nameless,” Dan Munro reports for Forbes.
“Mixed among the various panels that day was one with 5 CIO’s from various healthcare facilities – mostly hospitals. It was the last panel of the day and the topic was loosely around their collective view, vision and use of technology at their own facility,” Munro reports. “As is often the case, the reference to Return-On-Investment (ROI) came up at which point one of the CIO’s recounted this brief story from his own personal experience.”
Munro reports, “Turns out the Board of Directors at his hospital was considering a sizeable financial commitment to tablets – and specifically iPad’s. They asked the CFO for an ROI analysis – and the CFO turned the task over to this CIO. Using time-motion analysis around clinical workflow tied roughly to various labor costs – our CIO arrived at an interesting dilemma. In fairness, the study was far from scientific, but the ROI was so low – 9 days – that it ran the very real risk of being unbelievable to the Board. Still, that was what the data showed so that is what the CIO presented. The risk was limited by the simple fact that even if he was wrong – by even a huge margin of 100%, 200% or 300% or more – it still made for a relatively easy and compelling business decision.”
“The longer story is that the hospital continued with their roll-out of iPad’s hospital-wide,” Munro reports. “They have since successfully implemented their initial installation, and are embracing other mobile solutions rapidly. The technology lesson, however, is really much broader – and repeats in so many different ways.”
Much more in the full article here.
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