Improving technology investment decisions at hospitals through system dynamics and decision analysis Conference Paper
| Authors: | Rojas-Cordova, A.; Baghaei-Lakeh, A.; Zhang, H.; Wernz, C.; Rahmandad, H.; Slonim, A. D.; Caroline, A. |
| Editors: | Bui, T. X.; Sprague, R. H. Jr |
| Title: | Improving technology investment decisions at hospitals through system dynamics and decision analysis |
| Conference Title: | 49th Annual Hawaii International Conference on System Sciences (HICSS) |
| Abstract: | Medical technologies represent a major share of hospital budgets and have been driving up healthcare costs in the United States. Typically, hospitals have limited resources and have to be selective with their purchases. Despite the importance and complexity of investment decisions, most hospitals do not use structured methods or comprehensive data. In response, we developed and field-tested a data-to-decision (D2D) approach. We interviewed executives and physicians from two hospitals to learn about the role of technology and capital investment decision processes. We developed a system dynamics (SD) model for the adoption of a Da Vinci® surgical system. Hospital executives evaluated this technology along with other alternatives in a session we conducted using the Simple Multi-Attribute Rating Technique (SMART). © 2016 IEEE. |
| Keywords: | hospitals; health care costs; biomedical engineering; investments; budget control; system theory; capital investment; investment decisions; medical technologies; role of technologies; simple multiattribute rating technique (smart); structured method; technology investments |
| Journal Title | Proceedings of the Annual Hawaii International Conference on System Sciences |
| Volume: | 2016 |
| Conference Dates: | 2016 Jan 5-8 |
| Conference Location: | Koloa, HI |
| ISBN: | 1530-1605 |
| Publisher: | IEEE |
| Date Published: | 2016-01-01 |
| Start Page: | 1517 |
| End Page: | 1526 |
| Language: | English |
| DOI: | 10.1109/hicss.2016.192 |
| PROVIDER: | scopus |
| DOI/URL: | |
| Notes: | Conference Paper -- Conference code: 120046 -- Export Date: 1 July 2016 -- 5 January 2016 through 8 January 2016 -- Source: Scopus |
