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Philips

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Education & Training

Forecasting ROI in Healthcare

May 26, 2021


Suzanne SchellJack Phillips 180x150WATERLOO, Ont. – There has always been a need to show the qualitative value of healthcare programs. The current economic climate has created even more pressure to show value in monetary terms (quantitative) that executives will understand. What happens when there is a need for a healthcare improvement program, but no budget is available or the budgets have been reduced significantly?

An ROI forecast will show the monetary value that the program will deliver compared to the proposed cost of the program. If there is a significant positive difference, this may convince executives to move forward and implement the program. Therefore, the challenge is to make a compelling business case, one that will convince even the most conservative funders to allocate funds for the program.

This session will describe how to create a forecast for a program. This type of forecast connects the proposed improvement solution to impact measures (qualitative and quantitative) that will improve if this program is implemented. When the monetary value of this improvement is actually calculated and compared to the programmed cost of the program, a financial ROI is forecasted. The challenge is to be conservative with analysis and credible with the conclusions.

Using the ROI Methodology® as a framework, this process will forecast data at five levels, plus intangibles. When conservative standards are used and it is presented in a very compelling way, this makes a great argument for allocating the funds, even in difficult and uncertain times.

Learning Objectives:

  • At the end of this session, participants should be able to:
  • List the five levels of data that are present with any program.
  • Identify the data needed by stakeholders along with their expectations.
  • Select the experts to provide data to make estimates for a forecast.
  • Forecast the impact, ROI, and intangibles of an important program.
  • Present the ROI forecast in a compelling way.
  • Describe an example of a real ROI forecasting case study.

Date
June 24, 2021 | 12:00 – 1:00 PM ET
Live, Online, via Webex

Instructors:
Suzanne Schell (pictured on left), CRP, BBA, CEO, ROI Institute Canada, NIHI Instructor
Jack Phillips (pictured on right), Ph.D, Founder of the ROI Institute, and developer of the Phillips ROI Methodology

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