Proving ROI of Healthcare Technology Investments

This article discusses the challenges healthcare payers face in improving processes, member satisfaction, and compliance risks while investing in technology. It emphasizes the importance of demonstrating the return on investment (ROI) for new technology, which is often perceived as an expense rather than an asset. Key considerations for calculating ROI include the reduction of time-consuming processes, alleviating employee stress, and mitigating compliance risks. The article highlights the necessity of presenting a comprehensive view of ROI that encompasses benefits across various departments, rather than just within a single department. It provides an example of Magellan Health, which significantly reduced credentialing process time through technology adoption. The article also suggests aligning technology investments with broader company goals to strengthen the case for budget approval. Additionally, it offers resources for calculating ROI and preparing effective presentations to management.