Benefits Of An Initial Cost Benefit Analysis

1172 Words Nov 10th, 2015 5 Pages
An initial cost-benefit analysis was conducted in order to calculate if this change was justifiable and feasible in terms of cost. It began by introducing the idea to staff and evaluating their feedback. This initial assessment indicated the staff’s overall commitment to this change process. Staff participation is crucial to the cost because they are responsible for implementing the practice, which will ultimately save the hospital money. The benefits of this practice change such as the financial savings and decrease in workload were presented to the staff during the EBP launch meeting in order to encourage participation and adherence to the change. The biggest cost associated with this project would be the training and education for early identification of signs and symptoms of PIV catheter-related complication. In order to implement this protocol, there must be a nurse educator, who is well versed in the EBP concerning the new practice of clinically indicated replacement of PIV catheters, to educate each unit and their charge nurses. Ideally, there would not be a need for continuing education regarding this implementation process, so there are no long-term financial costs associated with this practice. Finally, there will be no need for a maintenance cost, as education would be comprised of a single two hour class for staff members.
The second and longest phase of the change process is the movement phase, where new policy is introduced to the units…

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