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Healthcare Statistics

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In deciding whether to purchase or lease a new dictation system, the HIM supervisor calculates the payback period. The hospital's required payback period is three years. If the equipment costs $ 28,000 and generates $3,500 per year in savings, what would be the payback period for this equipment? Should the department purchase this equipment?

  • Healthcare Statistics -

    You've already stated that the required payback period is 3 years.

    3,500x > 28,000

    Solve for x to find how long the company would need to keep this equipment.

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