Communicating value in simulation: cost-benefit analysis and return on investment

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Value-based health care requires a balancing of medical outcomes with economic value. Administrators need to understand both the clinical and the economic effects of potentially expensive simulation programs to rationalize the costs. Given the often-disparate priorities of clinical educators relative to health care administrators, justifying the value of simulation requires the use of economic analyses few physicians have been trained to conduct. Clinical educators need to be able to present thorough economic analyses demonstrating returns on investment and cost-effectiveness to...  [+] Show more

Subjects: Workforce development; Technology; Teaching and learning; Finance; Industry

Keywords: Simulation; Cost benefit analysis; Return on education and training; Investment; Financial aspects; Professional development; Capacity building; Outcomes of education and training; Economic impact; Economic implication; Economic factor; Cost; Barrier

Published: [London, England]: Wiley on behalf of the Society for Academic Emergency Medicine, 2018

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Journal volume: 25

Journal number: 2

Journal date: February 2018

Pages: pp. 230-237

Date: 2017

Place: Orlando, Florida

ISSN: 1069-6563 (print), 1553-2712 (online)

Special issue: Proceedings of the 2017 AEM Consensus Conference: Catalyzing System Change Through Healthcare Simulation (Dedicated to the life and accomplishments of Robert L. Wears, MD, PhD)

Resource type: Article

Peer reviewed: Yes

Call number: TD/TNC 140.55

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