
For a lot of hospital leaders, deciding which know-how investments to prioritize whereas balancing tight budgets is a tall order.
At Carson Valley Medical Middle in Minden, Nev., Chief Nursing Officer Andrea Highfill, DNP, RN, approaches this problem by beginning with a basic query: Is there a major demand for the know-how? If the reply is sure, the subsequent step is accumulating information to weigh the product’s price ticket in opposition to what it might value the group to forego the funding.
Dr. Highfill and her friends not too long ago adopted this course of, after surgeons started requesting a $1 million orthopedic surgical robotic.
“As soon as we began listening to this buzz that it was in excessive demand, we needed to seize that in information,” she stated. “What number of sufferers are we seeing now? What number of sufferers are being despatched away” as a result of surgeons are taking their circumstances to a different space hospital that does have the robotic?
To quantify the potential affect of the funding, Carson Valley leaders labored with the seller to assemble information on affected person volumes from close by hospitals utilizing the robotic system. Additionally they reviewed neighborhood well being developments, together with the prevalence of orthopedic circumstances, and anticipated future demand for joint substitute surgical procedures.
The monetary modeling course of concerned estimating what number of surgical procedures the hospital would want to carry out month-to-month to offset the robotic’s value. This included calculating the anticipated income from elevated surgical volumes and evaluating it to the hospital’s precise capability. Factoring in ongoing upkeep bills, Carson Valley leaders constructed a strong ROI projection.
“We did the calculations, and information did present that we might be shedding fairly a bit if we did not sustain with this know-how, and could be gaining fairly a bit if we did purchase it,” Dr. Highfill stated.
Carson Valley management finally accredited the acquisition after the enterprise case was introduced.
“We do not wish to be fiscally irresponsible, however we additionally do not wish to fall behind the benchmark; we do not wish to fall behind in know-how,” Dr. Highfill stated.