OUR SERVICES
The FiscalHealth Group assists healthcare organizations evaluate the financial benefits of Healthcare IT solutions with a focus on Clinical Information Systems. We understand the variety of challenges organizations face to accurately quantify the financial impact of their IT decisions. The FiscalHealth Group can assist in the identification and prioritization of Healthcare IT solution investments in a way that best benefits organizations' business, strategic and financial objectives. Additionally, we can help identify the vendor with the optimum value proposition, ultimately reducing the Total Cost of Ownership (TCO).
Types of Services
The FiscalHealth Group provides a complete range of financial benefit assessments to meet organization requirements. Whether you need assistance identifying Healthcare IT solution benefits or a comprehensive financial assessment for a full solution suite investment, The FiscalHealth Group can help you make the best, most informed decisions.
- Benefits Only Assessment
A detailed assessment projecting benefits for a wide variety of healthcare solutions. Potential benefits are quantified, such as:- Improved Revenue
- Increased Capacity and Throughput
- Staffing Impacts
- Reduced Other Operating Expenses
- Improved Asset Management (Accounts Receivable and Inventory)
These benefit projections could be used by the organization to assess the full financial impact of the selected IT solutions, using only their own internal financial analyses.
- Comprehensive Assessment - Single Solution or Multi-Solution
For single or multiple solutions, a comprehensive financial assessment includes:- Solution benefits
- Implementation and staging of solutions
- Adoption rates
- Total cost of ownership over a 10-year period.
This is the most comprehensive analysis, providing the type of financial information to support your Clinical Information Technology selection, minimizing investment costs while maximizing value.
- Custom Services
The FiscalHealth Group can provide consulting services in a variety of areas, supporting the selection and implementation of your Healthcare IT solutions. These include the creation of financial statements, budgeting, labor projections, metrics confirmation, and business case development.
Our services are designed to fit your organization's needs. Whether you need a benefits-only assessment, or a comprehensive multi-solution assessment, we provide the type of services to ensure you are making the best financial decision for your organization.
Areas of Expertise
With decades of experience and over 1,200 financial Healthcare IT financial benefit assessments completed, The FiscalHealth Group is able to identify and model benefits for a wide variety of information technology solutions. We offer complete assessments detailing the financial impact of Healthcare IT purchases over the lifetime of the system. These assessments include:
- Detailed solution benefit projections
- Benefit probability and time to benefit realization
- Risk evaluation
- Total cost of ownership modeling
- Identification and inclusion of Healthcare IT user adoption rates
- Optimization of implementation timelines
- Differentiation between hard and soft benefits
- Identification of potential differences in benefits versus Return on Investment and Net Present Value among vendors
- Income statement, balance sheet and cash flow impacts
- Return on Investment (ROI), Net Present Value (NPV), Payback Period, Internal Rate of Return (IRR) and other financial measures
The outcome of these analyses help organizations prioritize the selection of Healthcare IT solutions, optimize strategic goals and financial objectives, and understand the complete financial impact of their Healthcare IT decisions.
Solution Assessment Areas
The FiscalHealth Group provides comprehensive financial benefit assessments in virtually every department, including the integration implications among different clinical and business solutions. We offer assessments in the following areas:
| Ambulatory | Automated Medication Dispensing | Bar-code Medication Administration |
| Cardiology | Health Information Management | Emergency Department |
| Home Health | Information Access / Alerts | Laboratory |
| Materials Management | Nursing Documentation | Order Management |
| Pharmacy | Physician Documentation | Physician Order Entry (CPOE) |
| Radiology / PACS | Revenue Cycle | Surgical Services |
Each of these assessment areas can be reviewed individually or combined for an integrated assessment.