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2 Adopt - Plan
Total cost of ownership refers to the fact that the cost of acquiring technology is only part of the total expenditures you may need to make in order to acquire and
maintain HIT or EHR. For example, you may pay a software vendor for the application, a hardware vendor for input devices, and pay overtime or at least additional
straight time for nurse training. Often the costs not associated directly with software and hardware are overlooked in calculating a return on investment. These costs
often lead to unexpected cost overruns.
Use this spreadsheet to estimate the total cost of ownership (TCO) and return on investment (ROI) for a single application or group of
HIT applications being considered for acquisition. Initially, estimates will provide a good idea of how much financing you may
require. When actual costs become known, a better picture of your financing needs will emerge. Also use this tool to manage your
project budget and to post actual benefits as you identify them each year to evaluate benefits realized.
Section 1.2 Adopt Plan Total Cost of Ownership and Return on Investment - 1
3. Record estimates for all potential benefits. Year 0 is the year in which you implement. There may be benefits in that year, but only a portion of normal benefits for a
full year. Benefits may grow over time or become stable at some point. Be sure to document your assumptions so you can go back and estimate actual benefits.
4. The spreadsheet calculates totals. The year in which the payback period value is positive is the payback period. For example, if the payback period becomes positive
in year 3, the payback period is roughly three years. (You may calculate a more exact payback period if desired.)
5. As solid information is obtained from vendors, adjust the entries until you have all known costs.
Section 1.2 Adopt Plan Total Cost of Ownership and Return on Investment - 2
Costs
HARDWARE
Database Server(s) &
Devices
Assumptions
Qty
Initial Cost
Year 1
Year 2
Year 3
Input Devices
Workstations
(including desktops
and mobile
devices)
Peripherals (e.g.,
wireless cards)
Storage Devices
Other Devices
Devices, media,
services if not
using
an ASP or
Printers
SaaS model
Document
scanners
Card scanners
Wireless access
points
Docking stations
Battery chargers
Section 1.2 Adopt Plan Total Cost of Ownership and Return on Investment - 4
Copyright 2009, Margret\A Consulting, LLC. Used with permission of author.
Year 4
Year 5
ISP
Telecom fees
Hardware subtotal
SOFTWARE
Operating System
Describe license
Application
Describe license
Additional Modules or
Components
Upgrades to Existing
Applications as Needed
Identify and
describe license
Identify
Interfaces
Describe
List
Software subtotal
IMPLEMENTATION AND TRAINING
Vendor Implementation, List
Training, Support, Other
Services
Vendor Travel Costs
Describe
Project Manager
% time allocated
Amount
Section 1.2 Adopt Plan Total Cost of Ownership and Return on Investment - 5
Copyright 2009, Margret\A Consulting, LLC. Used with permission of author.
Registration fees
and travel
expenses
Selection Consultant
Fees
IT Contractor
Fees
Attorney
Fees
Electrician
Fees
Physical Facility
Contractor
Fees
Implementation
Consultant/Support
Contractor
Fees
Fees
New Furniture
Cost
Data Conversion
Cost
Chart Conversion:
Temporary Staff or
Outsourced Services
Rate
Chart Conversion:
Loaner Scanner
Fees
Webmaster
Fees
Rental
Implementation
subtotal
MAINTENANCE
Hardware Service
Maintenance
Agreements
Section 1.2 Adopt Plan Total Cost of Ownership and Return on Investment - 6
Copyright 2009, Margret\A Consulting, LLC. Used with permission of author.
Ongoing education
Fees and
expenses
Subscriptions
List all
Telecom Fees
Fees
IP Fees
Fees
Maintenance
subtotal
STAFFING (Additional Permanent Staff)
IT Operations Staff
Salary + benefits
Clinical Data Analyst
Salary + benefits
Applications Analyst
Salary + benefits
Other IT Staff
Salary + benefits
Nurse/Health
Informaticist
% time equivalent
Staffing subtotal
CONTINGENCY
Potential Additional
Costs
Specify % (usually
of software license)
Total Costs
Benefits
Current Cost
Calculation
Goal
%r
Year 0
Year 1
Year 2
Year 3
Section 1.2 Adopt Plan Total Cost of Ownership and Return on Investment - 7
Copyright 2009, Margret\A Consulting, LLC. Used with permission of author.
Year 4
Year 5
Assumptions:
Courier costs
Transcription Cost
Assumptions:
Transcriptionist
hours x (Salary +
Benefits) lost
through discharge or
attrition
Assumptions: Cost
of transcription
services
Copy Service Cost
Section 1.2 Adopt Plan Total Cost of Ownership and Return on Investment - 8
Copyright 2009, Margret\A Consulting, LLC. Used with permission of author.
Section 1.2 Adopt Plan Total Cost of Ownership and Return on Investment - 9
Copyright 2009, Margret\A Consulting, LLC. Used with permission of author.
Section 1.2 Adopt Plan Total Cost of Ownership and Return on Investment - 10
Copyright 2009, Margret\A Consulting, LLC. Used with permission of author.
Total Benefits
This toolkit was funded by Aging Services of Minnesota and its subsidiary, Alliance Purchasing for use by home health agencies
in Minnesota. Produced by Stratis Health.
Section 1.2 Adopt Plan Total Cost of Ownership and Return on Investment - 12
Copyright 2009, Margret\A Consulting, LLC. Used with permission of author.
Section 1.2 Adopt Plan Total Cost of Ownership and Return on Investment - 13
Copyright 2009, Margret\A Consulting, LLC. Used with permission of author.
Section 1.2 Adopt Plan Total Cost of Ownership and Return on Investment - 14
Copyright 2009, Margret\A Consulting, LLC. Used with permission of author.
Section 1.2 Adopt Plan Total Cost of Ownership and Return on Investment - 15
Copyright 2009, Margret\A Consulting, LLC. Used with permission of author.
Section 1.2 Adopt Plan Total Cost of Ownership and Return on Investment - 16
Copyright 2009, Margret\A Consulting, LLC. Used with permission of author.
Section 1.2 Adopt Plan Total Cost of Ownership and Return on Investment - 17
Copyright 2009, Margret\A Consulting, LLC. Used with permission of author.
Section 1.2 Adopt Plan Total Cost of Ownership and Return on Investment - 18
Copyright 2009, Margret\A Consulting, LLC. Used with permission of author.
Section 1.2 Adopt Plan Total Cost of Ownership and Return on Investment - 19
Copyright 2009, Margret\A Consulting, LLC. Used with permission of author.
Section 1.2 Adopt Plan Total Cost of Ownership and Return on Investment - 20
Copyright 2009, Margret\A Consulting, LLC. Used with permission of author.
Section 1.2 Adopt Plan Total Cost of Ownership and Return on Investment - 21
Copyright 2009, Margret\A Consulting, LLC. Used with permission of author.