Initial Cost | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | Total | |
Costs | |||||||
Software license (annual) | $1600 | $1600 | $1600 | $1600 | $1600 | $1600 | |
Implementation | $3400 | ||||||
Support | $1500 | $1500 | $1500 | $1500 | $1500 | $1500 | |
Hardware (refresh every 3 years) | $6600 | $6600 | |||||
Productivity loss | $11,200 | ||||||
Annual costs | $13,100 | $14,300 | $3100 | $9700 | $3100 | $3100 | $46,400 |
Present value of annual costs* | $13,100 | $13,619 | $2812 | $8379 | $2550 | $2429 | $42,900 |
Benefits | |||||||
Chart pull savings | $3000 | $3000 | $3000 | $3000 | $3000 | ||
Transcription savings | $2700 | $2700 | $2700 | $2700 | $2700 | ||
Prevention of adverse drug events | $2200 | $2200 | $2200 | $2200 | |||
Drug savings | $16,400 | $16,400 | $16,400 | $16,400 | |||
Laboratory savings | $2400 | $2400 | |||||
Radiology savings | $8300 | $8300 | |||||
Charge capture improvement | $7700 | $7700 | |||||
Billing error decrease | $7600 | $7600 | |||||
Annual benefits | $5700 | $24,300 | $24,300 | $50,300 | $50,300 | $154,900 | |
Present value of annual benefits* | $5429 | $22,041 | $20,991 | $41,382 | $39,411 | $129,300 | |
Net benefit (cost) | $(13,100) | $(8600) | $21,200 | $14,600 | $47,200 | $47,200 | $108,500 |
Present value of net benefit (cost)* | $(13,100) | $(8190) | $19,229 | $12,612 | $38,832 | $36,982 | $86,400 |