Learn how to apply ROI thinking in your organization
November 10, 2021
WATERLOO, Ont. – The ability to connect the dots and show bottom-line accountability while maintaining quality and efficiencies is now the key to survival in the healthcare industry. To meet this challenge, healthcare organizations must be more efficient (cost), more effective (better patient outcomes) and provide better patient satisfaction.
This is requiring investments in improvement initiatives and the ROI Methodology is the best process to implement to ensure those investments add value and prove that value to all stakeholders. Value includes both intangible and tangible measures.
This is a 6-session course demonstrating the significance of bottom-line accountability. The course is at a high level focusing on competencies to demand that an initiative, program or project is successful and its value, impact and ROI is proven.
Upon completion you will be awarded a McMaster University – NIHI Return on Investment in Health Care Certificate of Attendance. A certificate of Attendance is a non-academic certificate acknowledging that the recipient has completed a minimum of 10 hours of education and required activities for the course. This course is also a micro-certification course and upon successful completion, you will receive a digital badge which includes the competencies you have achieved.
November 24, December 1, 8, & 15, 2021, January 12 & 19, 2022
All sessions begin at 12:00 PM ET
Session 1 – ROI Thinking – Critical to Success
Return on Investment (ROI) thinking provides executives, program owners, funders and all involved in initiatives a platform to ensure accountability and ROI is embedded. As initiatives, programs or projects are developed and implemented a critical component must be how to determine the value, impact and ROI. This session also includes a review of the ROI Methodology (it is not all about ROI) and the true definition of ROI.
Session 2 – Start with Why? – Align the Program with the Organization
Discussion and examples to present an initial opportunity to ensure a program is aligned with the needs of the organization. Is this program, or initiative worth doing? Is this a problem worth solving? Is this an opportunity worth pursuing?
Session 3 – Design for Results – What does Success Look Like?
Several issues are involved in expecting the success of an initiative, program or project: define success, set objectives at multiple levels, define responsibilities of all stakeholders to achieve success. This session looks at all components in defining the success of programs, initiatives or projects.
Session 4 – Avoid Demolition and Renovate – Black Box Thinking
What happens to a program that is not delivering the results that were expected? There are choices and sometimes the choice is to terminate or demolish the program. With good data and Black Box Thinking, the program can be improved or renovated.
Session 5 – Will it be Worth It – Forecasting ROI – A Tool to Present a Business Case
Sometimes it is important to know the forecasted ROI before the program is initiated. This has become an issue in the healthcare industry, the requirement to provide a forecast of the ROI. Having a credible forecast might be the best method to attract the funder’s attention. This session will demonstrate how to apply a credible methodology for forecasting.
Session 6 – Making it Work – Applying ROI to Your Programs
This session will focus on participant interaction… sharing of how the concepts will be implemented in your personal case studies or programs
Recognition for Successful Course Completion
Certificate of Attendance: Upon completion of each part you will be awarded a NIHI – McMaster CE Certificate of Attendance in ROI Thinking in Health Care. A certificate of Attendance is a non-academic certificate acknowledging that the recipient has completed a minimum of 10 hours of education/training in the subject area.
Micro-Credential: Upon successful completion of the course, you will receive a digital credential that can be shared electronically detailing the competencies you will have achieved. You will be able to:
- Imbed ROI Thinking into programs and initiatives
- Demonstrate alignment of programs and initiatives to the organizational strategy
- Develop objectives at all 5 levels of data – setting the program/initiative up for success
- Analyze an impact or ROI study to determine how to improve the program/initiative
- Develop a credible ROI Forecast
Instructor: Suzanne Schell (pictured), CRP, is the CEO of ROI Institute Canada.
An accomplished ROI professional and speaker, Suzanne is a frequent presenter to forums and professional groups. Suzanne’s professional background includes over 20 years of management in a Chartered Accounting firm, where she managed teams in finance, tax and accounting areas, and developed a business development department to provide clients with solutions.