Section I of the Capital Project Research Paper

Section I of the big(p) Project - Research Paper pillow lineamentWith every superior buy, an boldness aims to meet a set of organizational needs. A capital purchase would not realize an organization unless it contributes to the organizations productivity or all overall performance efficacy. This musical composition will discuss a software purchase a health wish organization made for register patient records properly. The paper will give particular focus on managerial, organizational, and economic benefits of this capital purchase. Capital purchase To define, a capital purchase is defined as any purchase of $1000 and over (Novak, 1996, p.335). Capital purchases are considered as long term pluss of an organization. Generally, capital purchases are viewed as capital investments, capital assets, or capital acquisitions. The process of capital acquisition can benefit a healthcare organization in a number of ways. In the view of Gitman and McDaniel (2008, p.434), capital acquisit ions add to an organizations asset strength, which in turn contributes to the firms value chain efficiency and service efficiency. In the case of healthcare organizations like hospitals, a capital purchase is mainly intended to improve the quality of care delivery and thereby promoting patient safety. ... The planned software purchase for filing patient records costs more than than than $5,000, and therefore, it is a capital purchase. This capital acquisition may assist the healthcare environment to deliver ameliorate patient care services at affordable costs. Management goals of the purchase This capital acquisition would strengthener many management goals including revenue growth, operational efficiency improvement, improved productivity, quality assurance, performance evaluation, editd employee hiring and instruct costs. Loretz (2005) says that filing patient records manually is a difficult task because a large number of patients squall a healthcare institution every day. Hence, a healthcare institution needs to employ a large workforce to manage patient records appropriately. Evidently, an organization is forced to spend huge amounts on employee hiring and cooking in order to file patient records manually (p.2). This situation would probably reduce the firms profitability. However, computerized patient records handling system would assist a healthcare environment to manage patient info effectively and inexpensively. A software-based patient information filing system is beneficial for the organization to minimize the take aim of employee hiring because such a program may be capable of handling patient data more accurately and quickly. Even though this purchase may cost huge money initially, this acquisition would benefit the organization to trim down employee hiring and training expenses in the long term. Consequently, this may aid the firm to reduce its operating expenses and thereby improve profitability. As we discussed earlier, a software-base d program can more quickly and accurately manage patient information