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Implementing a Process to Measure Return on Investment for Nursing Professional Development.
Elisabeth Garrison1, Jodie Beverage
1Elisabeth Garrison, MSN, MBA, is Clinical Educator, Rush Copley Medical Center, Aurora, Illinois. Jodie Beverage, MSN, is Clinical Educator, Rush Copley Medical Center, Aurora, Illinois.
Journal for Nurses in Professional Development
|January 4, 2018
Summary
Quantifying the value of nursing professional development through return on investment (ROI) tracking is essential. Implementing this process enhances awareness of the department's financial impact and effectiveness.
Area of Science:
- Nursing Professional Development
- Healthcare Management
- Health Economics
Background:
- Nursing professional development is crucial for organizational value.
- Quantifying the impact of nursing professional development is often challenging.
- Return on investment (ROI) provides a framework for value assessment.
Purpose of the Study:
- To describe a process for tracking the ROI of nursing professional development.
- To highlight the importance of financial impact assessment for nursing departments.
- To improve the understanding of nursing professional development effectiveness.
Main Methods:
- Described a systematic process for ROI tracking in nursing professional development.
- Focused on the role of nursing professional development practitioners.
- Emphasized data collection and analysis for financial impact.
Main Results:
- Implementation of the ROI tracking process increased awareness.
- The financial impact of nursing professional development became more evident.
- The effectiveness of the nursing professional development department was better understood.
Conclusions:
- Tracking ROI is a viable method to demonstrate the value of nursing professional development.
- Increased awareness of financial impact can lead to better resource allocation.
- A structured ROI process can enhance the perceived effectiveness and contribution of nursing professional development departments.
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