WHAT ARE THE FINANCIAL CONSEQUENCES ?
Time loss has definitively high financial consequences that could be easily avoided.
At a staff productivity level the primary impacts involve the time taken to search for – or – recheck for information, on average consuming 52 minutes per day and 63 minutes per week respectively. Ignetica used the standard mid-band rates plus overhead loading, the economic value of this time can be identified at £7,600 per annum across all roles. For senior doctors for whom both the time requirement and rates are higher, the value is some £19,500 per annum.
Similar themes can also be seen in the cost optimisation domain; for example where clinic appointments are rendered unproductive due to information issues and a further appointment is required. At a less binary level, the aggregate impact of information delays are also likely to accrue – to impact inpatient length of stay with the associated bed day costs. In parallel, the potential duplication of diagnostics and investigations drives direct costs. Based on analysis of the most frequent types of duplicated activities indicated through the research, coupled with the associated costs, amount to £2,500 per clinician per annum across the sample base. For doctors specifically, this is significantly more.
estimated economic value of time spent in searching and rechecking
– GOOD TO KNOW –
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