Cost-Benefit Analysis

Suppose an issue has emerged in your organization that presents significant risks to the stakeholders involved. Your supervisor has asked you to conduct a CBA, make a recommendation, and present it to the board of directors. You are expected to consider the numbers within the context of the organizational mission, strategic direction, patient safety, risk-management issues, regulatory requirements, patient and stakeholder satisfaction, and the dynamics within the health care industry.
Specifies the focus and stakeholders for a cost-benefit analysis and explains why the stakeholders would be interested in the outcome of the analysis.
Develops a value proposition for change management that incorporates quality- and risk- management concepts and cites appropriate current literature to support the proposition
Describes strategies to influence and impact the needed changes for quality improvement and cites relevant sources in the literature to justify the strategies.
Conducts a cost-benefit analysis for a risk management intervention and describes the assumptions on which the analysis is based.
Identifies relevant internal and external benchmarks, using a systems-based perspective, and clearly identifies the source of each benchmark.
Select a relevant issue within your workplace (or one from the Suggested Resources) for which a CBA may be conducted. The CBA should include one of the following course-related topics:

Patient safety.
Risk management.
Regulatory standards.
Patient and stakeholder satisfaction.
Step One: Identify Costs
Apply the process from Writing a Cost-Benefit Analysis article (from the Required Resources) to identify costs: