Background
The iCAN mobile health program aims to help people experiencing homelessness by improving their access to healthcare and reducing visits to hospitals and emergency rooms.
Objective
This study evaluates the costs and financial benefits of the iCAN program through three main analyses: cost analysis, cost-benefit analysis, and budget impact analysis.
Methods
We gathered financial data from a clinical trial of iCAN. We looked at both startup costs (like supplies and SMS setup) and ongoing costs (such as service maintenance and staff salaries). We calculated how much iCAN needs to save in healthcare costs for it to be worth the investment.
Results
The total yearly cost of iCAN is $2,865 per participant. For iCAN to be financially beneficial, healthcare costs for participants need to decrease by at least 7.8%. If costs drop by 25%, iCAN could save $2.22 for every dollar spent. Implementing iCAN for 10,250 homeless individuals over five years may cost $28.7 million, but if healthcare costs are reduced by 8%, it could bring the cost down to $2.2 million.
Conclusions
If healthcare costs for homeless individuals are reduced by more than 7.8%, iCAN is a worthwhile investment. The more savings there are, the greater the financial benefits.
Opportunities for Improvement
- Define Measurable Outcomes: Set clear goals for what iCAN should achieve in terms of healthcare improvement.
- Select AI Tools: Choose AI solutions that can help meet the specific needs of the iCAN program.
- Implement Gradually: Start with a pilot project, track the results, and expand based on what works best.
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