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Cost Analysis

Cost Analysis

When evaluating the success of travel, whether the food or sites met expectations may be the main qualitative measure. Other measures will be more quantitative, such as whether the projected budget reflected the actual cost.

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Some measures of successful HIT are qualitative in nature, while others are more quantitative. Most HIT evaluations will include one very important quantitative measure based on costs and returns. A cost analysis can help ensure that HIT investments are returning the benefits necessary to meet goals while remaining within budget. Cost Analysis

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In this Assignment, examine various types of cost analysis and select one for use in your HIT Evaluation Plan Project and justify your choice.

To prepare:

· Recall the HIT-ACE for the Evaluation Plan Project.

· Review Chapter 7 in the Herasevich text (link below)

· Select one of the five main types of analysis Herasevich lists as appropriate for HIT.

In a 3-page assignment:

– Choose one of the five main types of analysis Herasevich lists as appropriate for HIT and describe how you might use it to perform an analysis of a financial aspect of your HIT-ACE evaluation methodology.

– Describe the key elements you would include in your analysis.

– Justify your choice and provide a brief explanation of the alternative types of analysis.

– Explain why each would not be useful to analyze the financial aspect of your chosen case.

Requirement:

– 5 scholarly articles, peer-reviewed, within the last 5 years.

1)

Herasevich, V., & Pickering, B. W. (2017). Health information technology evaluation handbook: From meaningful use to meaningful outcome (1st ed.). Taylor & Francis Group.

· Chapter 7, “Cost Evaluation” (pp. 124–146)

2)

Teh, R., Visvanathan, R., Ranasinghe, D., & Wilson, A. (2018, June). Evaluation and refinement of a handheld health information technology tool to support the timely update of bedside visual cues to prevent falls in hospitals. International Journal of Evidence-Based Healthcare, 16(2), 90–100. doi:10.1097/XEB.0000000000000129

3, 4, 5 – please add related scholarly and peer-reviewed articles within last 5 years

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