Webinar: The Business Case of Evidence-Based Design Features for Staff: Translating Traditional ROI Data into Financial Performance
September 23 @ 12:00 pm - 1:00 pmFree
The phrase “Return on investment (ROI)” can have different meanings depending on who you are speaking with. This is especially true in healthcare organizations where multiple priorities exist, as well as a debate on the effectiveness of various interventions. Furthermore, payment and reimbursement models are continuously taxing healthcare organizations to improve quality and safety while also reducing the overall cost of care delivery. As a result, a robust ROI assessment is needed before and after any costly intervention to help justify the need. The challenge is not all ROI metrics resonate with all parties.
This presentation will illustrate different ROI algorithms for evidence-based design (EBD) interventions related to staff effectiveness and retention along with patient satisfaction and quality measures. A case example of an inpatient unit build-out project completed in 2013 from a large academic medical center in Wisconsin will be used. We will use this example to translate traditional metrics, such as staff engagement, turnover and productivity, along with patient satisfaction, fall rates, length-of-stay (LOS), and hospital-acquired infections (HAIs) into financial metrics that speak to a larger audience. Pre- and post-move data will demonstrate significant ROI and compare costs savings to one-time construction costs overtime.
Compared to one-time construction cost of $6.25 million for the 24-bed inpatient unit, the combined value of patient and staff metrics calculated demonstrates a ROI in approximately 6 years.
- Learn how staffing efficiency was improved by 6% through EBD concepts such as dispersed supplies and decentralized charting stations, which has results in annual cost saving of $182,097.55 per year of improved efficiency.
- Learn how standardization and deployment features have helped to improve staff satisfaction with ease of care delivery related to physical environment features by 31.76%.
- Learn how design features and process changes have significantly improved patient satisfaction scores related to ‘space for visitors to participate in care’ (up 25 percent), ‘quietness’ (up 15 percent), ‘overall care’ (up 7 percent), and ‘likelihood to recommend’ (up 4.5 percent).
- Learn how LOS was significantly reduced to 30 less patient days/year and how that statistic was multiplied by the average daily surgical cost per patient of $3,125.50 for an average annual cost saving of $93,765.
- Kara Freihoefer, PhD, CID, EDAC, LEED ID+C, Director of Research, HGA Architects and Engineers
- Sarah Cypher, MSN, RN, CMSRN, Director of Nursing, Froedtert & Medical College of Wisconsin