Introduction to economic assessment - part 4.

Area of Science:

• Health economics
• Nursing research
• Healthcare management

Background:

• This article is the final in a four-part series on economic assessment (EA).
• Focuses on applying EA to nurse-led service innovation.
• Previous articles covered EA requirements, terminology, techniques, and strengths/weaknesses.

Purpose of the Study:

• To demonstrate how to assign monetary values to costs and benefits.
• To equip readers with practical skills for conducting economic assessments of service innovations.
• To introduce a methodology, tools, and templates for nurse-led EA.

Main Methods:

• Presents procedures for valuing costs incurred by service innovations.
• Details methods for quantifying the benefits generated by service innovations.
• Introduces a practical methodology used by practicing nurses.

Main Results:

• Provides actionable steps for monetary valuation of costs and benefits.
• Offers tools and templates to facilitate EA in nursing practice.
• Empowers nurses to conduct economic evaluations of their service innovations.

Conclusions:

• Effective economic assessment requires accurate monetary valuation of costs and benefits.
• This article provides the final piece of the EA puzzle for nurse-led innovations.
• Nurses can successfully conduct EAs with the provided methodology and tools.