Role of Technology (continued):

Technology plays a major role in supporting the hospital's strategic plan and typically is expected to have less than a 5 year payback. (The exception is when technology is used to attract a physician, whose anticipated referral base will significantly overcome losses from supporting technology investments.) The investment in technology often is a key factor in feasibility studies conducted to determine whether new clinical services should be offered or existing ones enhanced. Techniques that can increase throughput and utilization and maximize current assets are routinely sought. Strategies that increase reliability and minimize equipment downtime have been demonstrated to substantially affect any healthcare organization's bottom line.