This book offers a comprehensive overview of performing
return-on-investment (ROI) analyses for healthcare quality improvement
(QI). In the United States, healthcare policy regarding physician and
facility payment/reimbursement is steadily trending towards the use of
"value-based" systems and away from the traditional "fee-for-service"
(FFS) payment mechanisms. Healthcare professionals and organizations who
have previously focused on quality metrics are now finding themselves
burdened with having to define and assess value metrics, without much
guidance or assistance. This volume aims to be a guide and a reference
for healthcare professionals tasked with estimating and establishing ROI
for QI.
Chapters describe the general framework for how to perform QI; establish
standard definitions of important terms, concepts, and calculations; and
provide specific instructions for how to complete each step of an ROI
analysis. These include: selecting a QI initiative and identifying the
associated metrics, establishing measurable, monetizable, and
attributable costs and benefits, determining the appropriate scope and
perspective, calculating ROI and related metrics (payback period,
benefit-to-cost ratio, etc.), comparing with established benchmarks or
previously published results, and interpreting the results for the
intended audience. In addition, chapters offer examples of real studies
(or hypothetical studies of real situations), as well as templates for
several of the necessary activities that readers can leverage for their
own use.
Return on Investment for Healthcare Quality Improvement is a must-have
resource for healthcare providers, administrators, and other
professionals who work in healthcare organizations, hospitals and other
healthcare settings, health systems, and residency programs seeking to
obtain outside funding, as well as policy makers and administrators of
federal programs.
