Benefits Realization - ROI
What is Benefits Realization?
- Benefits Analysis & Projections
- Defining Opportunities
- Defining Specific Benefits
- Managing for Realization of ROI and Benefits
- Managing Change & Organization Culture
Benefits Realization is an attempt to achieve tangible and measurable improvements from change. Whether your organization is implementing new technology or you are in need of process changes to increase performance, our Benefits Realization methodology can be applied to achieve profit margins, reduced expenses, improve quality and operational productivity improvements. In many cases, to continue doing business the way it has been done in the past may not make sense in the future, especially with the significant capital expenses in new technology. In fact, one of the primary purposes of purchasing new technology is to change the way you do business to increase productivity and performance. The entire implementation and benefits realization process should force the organization to look at operations from a different perspective (i.e. out of the box).
How will Benefits Realization impact your organization?
In the organization that has self imposed change such as the purchase of a new EMR system, Benefits Realization should be a “by-product” of the implementation. The real impact or benefit will come as a result of the new processes or business practices. Benefits Realization is the process that will ensure the many benefits of the new EMR system are achieved and measured.
In the organization that wishes to "re-tool" by improving the processes, Benefits Realization is the realization of the benefits from process re-engineering.
What can HIA offer?
Benefits Realization does not occur without planning, management and measurement. Any change in an organization will offer potential benefits. How many times have you seen these benefits realized without specific identification and focus? Probably not often. While many benefits are possible with change, you cannot simply turn a switch on and make them happen. It will require significant planning and foundation development. It will also take copious education with regards to the changes and opportunities as well as organization commitment.
To view the Benefits Realization overview, click here.