If you're a financial executive, you want to be sure that you're getting your money's worth on every investment--including dollars spent on quality improvement. Generally speaking, however, the ROI on quality programs has been tricky to demonstrate. However, efforts go on to quantify the benefits of quality care.
One such program has been mounted by the Center for Health Care Strategies, which has developed an online tool, the ROI Forecasting Calculator, aimed at managing the costs generated by chronically-ill patients enrolled in Medicaid. The Calculator has been developed to help Medicaid insurers and state agencies estimate the return on investing in quality-improvement programs. The tool is aimed specifically at adults with disabilities and chronic conditions, which consume 70 percent of the program's resources despite accounting for only 25 percent of the population. In addition to detailed information on the patients involved, the tool takes into account not only the health status of the target population, but also the costs of launching a quality improvement initiative and the cost of capital needed to support these efforts.
To learn more about the tool:
- read this Modern Healthcare article
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