Cost benefit Analysis

PICO
“Would a one-day training session on three related topics, domestic violence, substance abuse and commercially sexually exploited children(I), increase Solano County Public Health Nursing staff’s (P) ability to identify high risk clients using a universal risk assessment tool by 20% (O)
compared to current no formal training (C)”
Purpose:
Create and present a Cost Benefit Analysis of the findings to your nursing leader
To identify barriers to project implementation
Resources:
Penner, Susan J. (2013). Chapter 9, p. 184-186.
Instructions:
In APA format: Title: Financial Impact
Provide a list of the resources you will need for your project implementation.
Based on your clinical finding, provide an estimated Cost Benefit Analysis of Problem (See example below):
The problem/PICOT Clinical Question: “What financial impact does of a nurse-led cardiac rehabilitation class (I) have on reducing hospital admissions by 10% (O) in patients with CHF who attend the class (P) over the next reporting cycle (T)?”
Costs of expenses and cost savings over same time period (benefits)
Patients admitted to the hospital with CHF, pose a $ $14,631/cost for a single hospitalization (financial burden).
Source: https://www.ncbi.nlm.nih.gov/pmc/articles/PMC5436769/
(Links to an external site.)
The cost of a “cardiac rehab education class:
$196/hr/nurse
2 nurses / cohort = $392/hour
Classes are 2-hours long/week = $784
10 patient cohort classes for 4 weeks = $3,136 x 10 = $31,360
Cost benefit analysis = Expense (of the problem) – Cost (of solution) = Benefit
$14,631 x 10 hospitalized patients = $146,310
$3,136 x 10 patients = $31,360 for education classes
+ $114,950 savings /month for every 10 patients educated
Identify the barriers to implementation and solutions to the project barriers
Provide a brief 150-word reflection on the “Lessons Learned”
Identify the QSEN/CNL competencies achieved

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