Cost Benefit Analysis

Include a simple budget – can be devised in Excel

· Direct Costs: labor, materials, manufacturing supplies, travel and wages for the productive staff

· Indirect costs: utilities, office supplies, office technology, marketing, employee benefit and perk programs, insurance

Cost/Benefit Analysis consists of a 1 to 2 page summary

· Financial: cost avoidance, reduced cost, patient outcomes

· Potential Benefits to Patients/Families: enhanced satisfaction, increased involvement in the care process, improved quality of care, increased safety

· Potential benefits to staff: enhanced easier or more streamlined care processes