While patient safety and quality are critical elements to population health, performance improvement initiatives from these departments can also provide a substantially positive financial impact on hospitals and especially systems.
But making the business case to senior leadership for an initiative or a new product or service can be difficult. This tool can help your team predict the return on investment of a patient safety or quality initiative that prevents a certain number of adverse events while also taking into account the soft cost of team time.
The data provided can also be used to establish an “Events to Prevent Goal” for an initiative to ensure it has a neutral or positive financial impact on your organization.
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