The current used ROI calculators have been largely advanced to suit other fundamental factors. In particular, the calculators have recently been shaped to provide search engine advertizing, blogging as well as social networks. Initially, Return on Investment Calculators came in forms that allowed for calculations of costs verses benefits. However, as earlier stated, the currently advanced forms of ROI Calculators have more instrumental functions. There are other different kinds of ROI calculators that serve different financial purposes. For instance, there is the Federal Stimulus Incentive Calculator that works on the Physician Earnings after EHR/ EMR Deployment. Another one is the Hosted Network Solution. This one works on ten year cost savings. However, in this essay, the main ROI Calculator that would be used is the Medical Claims Solutions Calculator. This kind is mainly applied for financial benefits rollouts for physicians. “ROI is very important for any company to determine its financial worthiness,” (Weppler, 2009).
This type of an ROI Calculator helps in the quantification of the total benefits that any physician gets in the event of health practices. In addition, this is the benefit that a physician can realize from deploying a solution that lowers medical claim denial rates. Spiller (2010), in his famous book Contemporary direct & interactive marketing point out that, “ROI acts as the company’s financial evaluation worthiness”. These calculators also work on identifying the ideal customers of a particular firm. The functions in the calculators help in turning the ideal customers into life- long clients. These calculators also have several merits. These are well listed and highlighted below.
First, with the use of this calculator, there is increased productivity. This is because the internet enabled calculators have allowed for easier and more personal communication between the customers and the entrepreneurs. Another advantage is that there is a reduced reliance on the help desks. This occurs since there is a means of direct communication between the customer and the business personnel. Finally, the conversion rates have been increased. “ROI acts as the basic foundamental evaluate of any organization”, (Phillips, 2008).
In conclusion, for any financial organization to improve its accuracy and efficiency in terms of measuring organizational financial value, ROI calculator has played a vital role to ensure that company evaluate its actual value and compare with the value of its competitors. ROI calculate enable investors and other financial stakeholders to make a correct decision on whether to invest on a particular organization or not. In the recent years, new ROI calculators such as Medical Claims Solution “Calculator and others calculators have been formulated so that they help the financial institutions and other business empires to analyze and obtain the correct return on investment”, (Phillips, 2008).