Orchard’s white paper, Total Cost of Ownership for a Laboratory Information System, discusses Total Cost of Ownership (TCO) throughout the lifetime of the LIS, including startup, operational, and retirement costs. In addition, considerations such as hosting your LIS and comparing an enterprise-wide solution (EWS) to a Best-of-Breed (BoB) solution are addressed. TCO involves some costs that are easy to quantitate and others that will be estimates. There are many different scenarios of laboratory IT setup, such as cloud-hosted systems or Software-as-a-Service (SaaS) arrangements. Or, the LIS may be a portion of an enterprise-wide EHR solution. These factors will influence a true TCO analysis.
Considering a New Laboratory Information System Investment? Read Orchard Software's White Paper Overview of the Total Cost of Ownership for an LIS
In today’s evolving healthcare market, it is important to make fully informed investments. Even when you know the up-front costs of a laboratory information system (LIS) or other IT system, you may not realize the full cost of the product throughout its lifespan. Calculating total cost of ownership (TCO) helps you understand costs that are not as transparent as the initial purchase price, providing a more complete picture that can help you make an informed decision about the LIS that best fits your budget and your laboratory.