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Course Description

Your organization may be considering a major new initiative such as a multimillion-dollar purchase of equipment to expand its services. It is important for decision makers in healthcare to be able to compare the benefits of a proposed technology or service against the technology or service you are currently using, which typically involves cost-benefit and cost-effectiveness analyses. A cost-benefit analysis may help you evaluate the purchase, but your board of directors may want more: What is the expected rate of return, and how does this compare with the return possible with a certificate of deposit or other cash investment? In this lesson, you will explore how the cost-benefit and cost-effectiveness analyses work and investigate a process that you can use to perform them. You will also look at how to evaluate investment opportunities, considering the role of inflation and something that financial experts call the "time value of money." Your studies here will enable you to recognize that assessing the return on investment (ROI) takes you a step further than a cost-benefit analysis.

Benefits to the Learner

  • Identify the purpose of cost-benefit and cost-effectiveness analyses and differentiate between them
  • Perform a systematic assessment of the impact of proposed purchases or services
  • Explore how to calculate the future value (FV) of an investment and a return on investment (ROI)
  • Evaluate investment opportunities by comparing potential returns
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Type
self-paced (non-instructor led)
Dates
Aug 31, 2021 to Dec 31, 2030
Total Number of Hours
1.0
Course Fee(s)
Regular Price $0.00
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