Measuring ROI in Healthcare: Tools and Techniques to Measure the Impact and ROI in Healthcare Improvement Projects and Programs by Phillips, Jack; Buzachero, Victor; Phillips, Patti;

Long description:

A proven system for measuring the bottom-line valueof any proposed healthcare initiative

Healthcare costs in the United States are soaring out of control, and virtually every forecast predicts no end to this unhealthy trend.

Until now, there has been no way to quantify and prove the value of healthcare projects and programs. Measuring ROI in Healthcare is what the industry--and the nation itself--has been waiting for.

In this groundbreaking book that is sure to heavily impact the healthcare industry, four ROI experts show you how to measure what was previously unmeasurable and place accurate dollar signs on what was formerly impossible to value.

Whatever healthcare improvement projects you plan to introduce--from systemwide medical procedures, technologyimplementations, and systems integration to nurse retention, risk management, and leadership development--Measuring ROI in Healthcare provides the tools you need to prove the worth of your project to decisionmakers.

This step-by-step guide to collecting, analyzing,and reporting data in a consistent manner explains how to:

• Align your project?s intended outcomes with organizational needs
• Collect and measure project participant feedback
• Evaluate the application and implementation of projects
• Measure business impact and connect improvement directly to your efforts
• Develop monetary values to calculate ROI

As budgets shrink and uncertainty grows, business leaders are demanding higher levels of accountability than ever before. Nowhere is this more apparent than in thehealthcare industry.

Use the proven methods of Measuring ROI in Healthcare to make sure your programs and projects will deliver what they promise and convince any decision maker that the organization's money will be well spent on your efforts.

PRAISE FOR MEASURING ROI IN HEALTHCARE:

"Measuring ROI in Healthcare should be mandatory reading for all executives of any sector in the healthcare arena: providers, payers, Pharma/device companies, policymakers, and scholars." -- Dr. David Lee Scher, MD, digital health technology consultant, Pennsylvania State University College of Medicine, Clinical Associate Professor of Medicine

"There are very few constants in healthcare. Two of them--the push for greater quality and productivity--are comprehensively addressed by the authors. And in so doing, the direct connection between resource investment--time and money--and the return on those investments is concisely and profoundly made." -- Ross Mitchell, Vice President, External and Governmental Affairs, Baptist Health System

"Kudos to the authors for providing a logical, systematic project evaluation framework that incorporates both financial and key nonfinancial elements affecting aninvestment decision." -- Hank Walker, Partner, Andrade/Walker Consulting, and former CEO of a large Catholic health system

"Measuring ROI in Healthcare covers the most important ROI concepts to understand and gives leaders the necessary tools to be successful in that effort." -- Chris D. Van Gorder, FACHE, President and CEO, Scripps Health, and former Chairman of American College of Healthcare Executives

"Executives, administrators, healthcare managers, advisors, professionals, and practitioners alike will find both the book and the ROI Methodology informative resourceswhen planning major healthcare projects." -- Dr. Catherine S. Amos, Doctor of Optometry, EyeCare Associates,and former President of American Optometric Foundation

A proven system for measuring the bottom-line valueof any proposed healthcare initiative

Healthcare costs in the United States are soaring out of control, and virtually every forecast predicts no end to this unhealthy trend.

Until now, there has been no way to quantify and prove the value of healthcare projects and programs. Measuring ROI in Healthcare is what the industry--and the nation itself--has been waiting for.

In this groundbreaking book that is sure to heavily impact the healthcare industry, four ROI experts show you how to measure what was previously unmeasurable and place accurate dollar signs on what was formerly impossible to value.

Whatever healthcare improvement projects you plan to introduce--from systemwide medical procedures, technologyimplementations, and systems integration to nurse retention, risk management, and leadership development--Measuring ROI in Healthcare provides the tools you need to prove the worth of your project to decisionmakers.

This step-by-step guide to collecting, analyzing,and reporting data in a consistent manner explains how to:

• Align your project?s intended outcomes with organizational needs
• Collect and measure project participant feedback
• Evaluate the application and implementation of projects
• Measure business impact and connect improvement directly to your efforts
• Develop monetary values to calculate ROI

As budgets shrink and uncertainty grows, business leaders are demanding higher levels of accountability than ever before. Nowhere is this more apparent than in thehealthcare industry.

Use the proven methods of Measuring ROI in Healthcare to make sure your programs and projects will deliver what they promise and convince any decision maker that the organization's money will be well spent on your efforts.

PRAISE FOR MEASURING ROI IN HEALTHCARE:

"Measuring ROI in Healthcare should be mandatory reading for all executives of any sector in the healthcare arena: providers, payers, Pharma/device companies, policymakers, and scholars." -- Dr. David Lee Scher, MD, digital health technology consultant, Pennsylvania State University College of Medicine, Clinical Associate Professor of Medicine

"There are very few constants in healthcare. Two of them--the push for greater quality and productivity--are comprehensively addressed by the authors. And in so doing, the direct connection between resource investment--time and money--and the return on those investments is concisely and profoundly made." -- Ross Mitchell, Vice President, External and Governmental Affairs, Baptist Health System

"Kudos to the authors for providing a logical, systematic project evaluation framework that incorporates both financial and key nonfinancial elements affecting aninvestment decision." -- Hank Walker, Partner, Andrade/Walker Consulting, and former CEO of a large Catholic health system

"Measuring ROI in Healthcare covers the most important ROI concepts to understand and gives leaders the necessary tools to be successful in that effort." -- Chris D. Van Gorder, FACHE, President and CEO, Scripps Health, and former Chairman of American College of Healthcare Executives

"Executives, administrators, healthcare managers, advisors, professionals, and practitioners alike will find both the book and the ROI Methodology informative resourceswhen planning major healthcare projects." -- Dr. Catherine S. Amos, Doctor of Optometry, EyeCare Associates,and former President of American Optometric Foundation

Table of Contents:

Contents
Preface ix
Acknowledgments xiii
Chapter 1 Healthcare and Performance ImprovementTrends and Issues 1
Chapter 2 ROI Methodology Basics 53
Chapter 3 Achieving Business Alignment with HealthcareInitiatives 79
Chapter 4 Measuring Reaction and Learning 103
Chapter 5 Measuring Application and Implementation 123
Chapter 6 Measuring Business Impact 143
Chapter 7 Isolation of Project Impact: Addressing theAttribution Issue 173
Chapter 8 Converting Data to Money 201
Chapter 9 Measuring the Intangibles 231
Chapter 10 Monitoring Project Costs and Calculating ROI 259
Chapter 11 Reporting Results 277
Chapter 12 Implementing and Sustaining ROI 303
Appendix 325
Notes 333
Index 339