The financial impact of using RFID in healthcare

This paper is emphases on the financial impact of RFID system on the healthcare. The main obstacle of RFID implementation is the high costs hence the area of application must be very selective. We decide on the Obstetrics and Gynecology Department (OGD), where the patient has many visits during three different periods: Pregnancy, Delivery and after Childbirth. This research conducted over two years to collect real data for two different scenarios, traditional versus RFID systems. The reductions in waiting times for each period are valued into money. The RFID technology can significantly improve the processing times associated with medical record retrieval, dispensing medication, personnel management and billing. This analysis is planned for a period of 5 years with discount rate of 4%. Finally, the net present value concept is applied in order to compare the financial benefit of two systems and to obtain the payback period.