Measuring ROI in healthcare improvement projects

January 5, 2022

Suzanne SchellWATERLOO, Ont. – McMaster University and the National Institutes of Health Informatics (NIHI) are offering an online course to improve the ability of executives and managers to measure the impact of ROI in healthcare improvement initiatives. This course will provide the knowledge and skills to participants to measure value, impact and ROI in healthcare improvement initiatives, using the Phillips ROI Methodology.

The course will include examples and real case studies to bring a practical approach to the participant’s learning.

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. You will also receive a micro-credential. A micro-credential is a digital credential that can be shared online on a resume, portfolio, or website such as Linkedin, providing official certification of skills and capabilities.

Time & dates:
February 2, 9, 16, 23, 2022
March 9, 16, 23, 30, 2022
11:50 AM ET – 1:00 PM ET

REGISTER HERE

Instructor:
Suzanne Schell (pictured), CRP, BBA, CEO, ROI Institute Canada, NIHI Instructor

Course outline:
Session 1 – February 2 – Course overview and introduction to the ROI methodology model and application in healthcare

Session 2 – February 9 – ROI implementation and why it is critical

Session 3 – February 16 – Steps 1 – 3 – Critical steps to ensure the evaluation can be done and to set up the initiative for success

Session 4 – February 23 – Steps 4 & 5 – Data collection

Session 5 – March 9 – Step 6 – Isolate the impact of the initiative

Session 6 – March 16 – Step 7 & 8 – This session will focus on:

  • Convert data to monetary value
  • Intangible measures

Session 7 – March 23 – Step 9 & 10 – This session will focus on:

  • Fully loaded costs
  • Calculate ROI

Session 8 – March 30 – Step 11 & 12 – Reporting results and optimize results & course summary

Learning objectives:

  • Develop program objectives at multiple levels
  • Identify the 12 guiding principles of the ROI methodology
  • Make the business case for ROI
  • Plan next steps to implement the ROI methodology

Expected outcomes:

  • Improved program effectiveness
  • Improved program efficiencies
  • Improved relationships with clients and executives
  • Increased and or sustained funding for programs
  • A comprehensive view of ROI in healthcare and how to use the ROI methodology to meet your organization’s ROI goals

Competencies achieved – Students will be able to:

  • Demonstrate ability to conduct an impact study
  • Set program objectives for 5 levels of data
  • Determine how to isolate the benefits of the program from other influences
  • Conservatively convert impact measure improvements to monetary values
  • Calculate the ROI of a program

Intended audience:

  • Industry Leaders: responsible for Health Informatics, eHealth initiatives/projects, eHealth systems implementations
  • HI, HIM and eHealth Professionals: interested or involved in benefit realization, business intelligence, evaluation methods, cost/benefits analysis, process improvement initiatives impact
  • Government: eHealth Project Managers, Risk Managers, Change Managers, Clinical Transformation Managers , CIOs, Procurement Specialists
  • Healthcare Professionals: interested in business analytics, organizational measurement of new initiatives
  • Consultants/Individuals: involved in projects that need to demonstrate the ROI and impact of healthcare initiatives
  • Educators and Students: interested in gaining an understanding about ROI in healthcare
  • Quality improvement professionals: interested in proving the value, impact and ROI of investments in improvement initiatives
  • Policy Analysts
  • Financial: those in the financial areas of healthcare wanting to value investments in healthcare
  • Research: those that want to enhance the evaluation process to include ROI
  • Consultants and solution providers who need to offer analytics-related products and services to private and public sector organizations
  • Evaluators: those that want to enhance the evaluation process to include ROI

For questions or assistance please contact info@nihi.ca.