Consider This...Healthcare Observations by Ralph P. Fargnoli, Jr.
5/21/09

ARRA makes optimizing your IT investment even more crucial ... no worries, ROIPS does have a cure.

This is the first in a four-part Summer Series that focuses on issues affected by ARRA.

You can probably relate to one or both of these scenarios: you've invested money into your IT systems and don't feel you've got your money's worth; and/or, you're about to make a (stressful!) IT investment to adopt electronic health record technology to comply with ARRA legislation by late 2011 and are feeling the weight on your shoulders of ROI projections.

I call this "ROIPS," Return On Investment Panic Syndrome.

The current state of the economy dictates that we must make the most of what we have, or will have, to achieve full ROI. And importantly, this means not only financial return, but also improved patient satisfaction and maximized operational efficiencies.

As such, system optimization should be a key component of your ARRA strategy. The benefits of system optimization are plentiful, including improved system performance, improved documentation, enhanced patient safety and improved clinical outcomes, to name just a few.

Yet, without full system optimization, the full potential of that system to make the clinical environment one that is more productive and less stressful is lost. And that's simply money wasted.

The fact is that the ARRA requirements move closer every day for each of you to receive your appropriate incentive payments, and you must show "meaningful use" of your technology. For those of you who have already invested in improving your IT operations, congratulations, but don't be complacent in that action alone. If you haven't made sure your system is optimized, you need to adjust your strategy accordingly.

For those of you about to make an ARRA-related IT investment, be aware that optimization of these systems is essential, will produce many favorable results, and will act as a foundation for implementation strategies going forward.

There is no doubt that making these investments is difficult given the economic climate, however, the ARRA has dictated that the investment must be made. So, it just makes sense to make the most of your investment with system optimization.

You won't simply be complying with ARRA requirements, but also maximizing your ROI, which might just gain your organization a coveted competitive edge.

Ralph P. Fargnoli, Jr.
President & CEO
Beacon Partners, Inc.

Questions or comments, contact
ConsiderThis@BeaconPartners.com

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