The payback period answered how long it would take for the hospital to recoup their savings from the new technology. Some of these savings should go on, but an argument was made that the cost savings would be transfer to other priorities for XYZ hospital. The best option for payback was determined by the amount of time and expense that would be saved through maintenance and not having equipment failures. To break even or exceed the initial investment, the hospital figured that the savings in these areas would generate the payback in 1 to 3 years. Keeping Current System
a. Strengths
a. less expensive than acquiring a new solution
b.
Still reliable, secure
c. IT department and educators are well trained with the system
b. Weaknesses
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Hardware and software now are getting cheaper and the demand for them to be used in the healthcare setting has caught on.
The belief is that this adoption of a telemedicine and electronic medical records management system is the old way of thinking of how clinical and administrative staff work in this environment, they're no longer tied to the antiquated ways of providing care and treatment. The demand for telemedicine and electronic medical records management is projected to continue to grow and with new technology becoming smarter, cheaper, and more secure. Telemedicine looks to become the model way of providing patient care and treatment.
The problem right now is tied to funding. Organizations such as the XYZ hospital are forced to be even better stewards of taxpayers' dollars. The Budget and other financial constraints are forcing the hospital to be very selective and critical of every dollar spent. The idea of doing more with less is propagating throughout the medical campus and programs are being cut. As a result, clashes between how the current services and future ones are causing which priorities can be