The Economics of Electronic Health Records (EHRs): A Comparative Analysis of Implementation Costs, ROI, and Efficiency Metrics Across Healthcare Settings

Objective To investigate the economics of Electronic Health Records (EHRs) by conducting a comparative economic analysis of EHR implementations in varied healthcare settings with a focus on assessing workflow efficiency and patient outcomes across socioeconomic spectrums. Methodology The research adopted a mixed methodological framework that included both qualitative and quantitative analysis. The qualitative methodology involved a detailed meta-analytic and systematic review of literature while the quantitative methodology involved statistical analysis of data associated with the economic aspects of EHR implementation. The review was conducted in accordance with PRISMA (Preferred Reporting Items for Systematic Reviews and Meta-Analyses) guidelines. Findings The costs related to hardware were associated with computer equipment, related ancillary equipment and networking. The costs related to software were associated license or maintenance costs for EHR or related software Installation costs included vendor and contractor costs. The associated ROI and break-even points for the implementation of the EHR were computed based on the model by Jang et al. (2014). The performance efficiency metrics for the systems are based on availability, reliability, and latency (speed). The different patient outcomes associated with EHR implementation can include hospital costs, efficiency of admission process, quality of healthcare services and the recovery time. Conclusion Implementation costs, ROI, efficiency metrics, and patient outcome measures across different healthcare settings can be used to uncover the economic viability of EHR implementation.