Health information technology and its impact on financial risk management practices.

摘要

The healthcare industry is continuously evolving towards a more innovative and technologically advanced commodity. Shifting towards a more enhanced and accessible healthcare system can create a complimentary relationship between the financial state of a business and the overall health of consumers. The research presented, thoroughly examines the application of electronic health information technology and its impact on the financial status of healthcare organizations. The purpose of this capstone was to explain why healthcare organizations are adapting advanced technologies and the impact they have on financial risk management practices that help to conquer that shift. In order to obtain a comprehensive understanding of why additional focus on financial risk management is imperative when adapting electronic health technologies, a business analysis was utilized. By analyzing the financial risks of applying new technologies through a business perspective known as SWOT, it highlighted the strengths, weaknesses, opportunities and threats of the initiative. The SWOT analysis helped identify the relationship between financial risk management practices and the movement toward a more innovative system of delivery. Findings from the research helped develop an analysis on the importance of implementing a health information technology transformation and how it impacted financial strategies. Implementing technological innovations for improved delivery and advanced methods for obtaining health information and services was a high-value, high-risk investment. Strong financial risk management practices have proven to be vital when adapting these high-risk investments in order to remain competitive and successful within the healthcare market. Prospective healthcare technologies were also discussed due to their impact in developing future strategies for continued growth industry-wide. Keywords: Health Care Administration, Dr. Gail Young, banking, records, digital, investments, knowledge sharing.