healthcare financing

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Business Finance

Description

Cost-Benefit Analysis

One of the physicians in your office would like to purchase a piece of equipment. Your responsibility is to put together a CBA to present to the physicians to determine the best approach to take to this request. You may refer to the article "Cost-Benefit Analysis: A Template" and the spreadsheet "Writing a Cost-Benefit Analysis" by Plowman, regarding elements of a successful CBA. You may also use the spreadsheet to complete a capital purchase scenario. Your final submission should include the following:

  • The completed CBA spreadsheet.
  • A concise summary that provides context for the CBA, provides additional insights, and explains the rationale behind your recommendation. This summary should be 2–3 pages in length, not including the CBA spreadsheet, and follow APA standards. Be sure to cite the sources in APA format.

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Explanation & Answer

Attached.

1

CBA for Purchasing a Bar Coding System

Student name
Institutional affiliation:

2
CBA for Purchasing a Bar Coding System
The attached word document and excel file addresses the question “healthcare financing” as
follows:


Cost Benefit Analysis excel template



Summary of the CBA


1

Running Head: CBA for Purchasing a Bar Coding System

CBA for Purchasing a Bar Coding System

Student name
Institutional affiliation:

2

CBA for Purchasing a Bar Coding System

CBA for Purchasing a Bar Coding System
Introduction
One of our physician at Tyler County Hospital wishes to purchase a Bar coding equipment.
The physician is quite aware that a Bar coding system has the ability to decrease dispensing errors
in a hospital pharmacy but he is not sure whether the cost of this technology is justified by its
benefits. The main purpose of this cost benefit analysis is to evaluate the benefits and costs of this
technology and establish its return on investment for Tyler county hospital at an institutional level
in the case of implementing such a bar coding system. The cost benefit analysis in this study is
applicable for any mediation-dispensing bar code system within nonprofit, academic and large
tertiary hospital care pharmacy. The hospital implementation perception taken in this study is for
a five-year horizon.
Cost Benefit Analysis
The cost benefit analysis involved four main steps. The first step involves determining the
costs associated with purchasing a bar coding system for a five-year horizon. According to our
analysis, the non-recurring costs for the system are $393,093 for the five-year time horizon. On
the other hand, the recurring costs for the system are $67,081. This implies that the total cost that
will incurred by Tyler County Hospital for purchasing a bar coding system is $460,175. The second
step involves calculating the benefiting associating purchase of this bar coding system. Some the
benefits include cost savings ...

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