building the documentation for the justification of a “soft return”

 

building the documentation for the justification of a “soft return”

n Return on investment with
a focus on the steps recommended for building the documentation for the justification
of a “soft retum”(soft costs include risk avoidance, client goodwill, patient safety,
process improvement, and regulatory compliance and support costs) and the gathering
of metrics with the intention of estimating the financial benefits expected from the
project. – There are three steps in documenting soft returns, which are identifying a
process improvement opportunity, create a formula to calculate the benefits, and
determine the costs of the process and the net benefits- Soft costs include risk
avoidance, client goodwill, and support costs Many projects in healthcare today
require large outlays of capital for electronic health records, clinical information
systems whose return on investment is not easily documented with new revenues and
operating expenses but from a quality standpoint are wanted and needed- In your
research, consider what would be needed to support a capital acquisition that would
improve efficiency, quality, customer satisfaction, and overall effectiveness within the
organization. Also, would a project management office establishment be of any
assistance in monitoring the project?

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