Hospital Investment Decisions and Prioritization of Clinical Programs

Abstract

Making investment decisions in hospitals and prioritizing clinical programs are crucial to ensure optimal healthcare delivery, responsible use of resources, and long-term sustainability of an organization. This review examines the existing literature to identify the key factors influencing investment decisions, evaluates evidence-based frameworks for prioritizing resources, and articulates challenges and future directions for healthcare organizations. Critical drivers of hospital investments include financial health, demographics, ownership structure, and technology adoption. However, program budgeting and marginal analysis, health technology assessment, multi-criteria decision analysis, and evidence-based design frameworks will ensure that decisions are systematic and transparent. These tools help hospitals balance infrastructure investments, technology, specialized clinical programs, and emergency response. The dependence on past allocation practices, funding constraints, and stakeholder misalignment inhibits the best decision-making. For those barriers to be addressed, predictive analytics and artificial intelligence must already be in the evaluation process, as should configuration processes for interrelated tech, and collaboration among stakeholders should be fostered. Furthermore, investments aligned with sustainability principles and equity goals will be more resilient and adaptive to changes in the healthcare landscape. This review highlights the importance of healthcare organizations implementing holistic, evidence-based frameworks to guide investment decisions, including low-hanging fruit from today and industry best practices for tomorrow, shifting a provider's focus to ensure optimal patient outcomes, operational efficiencies, and sustainable growth.

Keywords: clinical program prioritization; decision-making frameworks; evidence-based frameworks; financial constraints; health technology assessment; healthcare 4.0 technologies; healthcare sustainability; hospital investment; predictive analytics; resource allocation.