Cost Effectiveness Overview
Return On Investment – Conservative Estimate 10 to 1
”Price is what you pay, Value is what you get”
-Warren Buffet
Direct Cost
— Single facility wide reporting layout of performance data
— Data entry time and costs virtually eliminated
— Significantly reduces costs associated with follow up including: initiating, tracking and
documenting
— Cost of developing, producing and maintaining reports
— Consolidation of multiple audit processes
— PPR preparation
— External consulting
Operating Costs
— Consistent identification and action on performance improvement priorities will drive
cost as well as quality improvement
Revenue
— Revenue protection/ enhancement resulting from improved quality and satisfaction
improvement (HCAHPS)
Indirect Cost
— Potential for regulatory citation is decreased significantly
— Impact of public awareness of quality results
— Impact on insurances
— Impact on legal costs
