Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Cost-Benefit Analysis (1): Education of Hospital Nurse Staff to Reduce Stage 3 and 4 Pressue Ulcers Stage 3 and 4 pressure ulcers (i.e. severe bedsores)

image text in transcribed

Cost-Benefit Analysis (1): Education of Hospital Nurse Staff to Reduce Stage 3 and 4 Pressue Ulcers Stage 3 and 4 pressure ulcers (i.e. severe bedsores) are serious adverse events that a patient in a hospital can experience if not properly monitored by nursing staff. It is estimated that, for a typical hospital, total cases of stage 3 and 4 pressure ulcers lead to about $250,000 in annual excess costs, costs for which the hospital cannot be reimbursed by insurance. However, specific educational programs for nurse staff on recognizing and preventing pressure ulcers can reduce the excess costs by 38 percent (i.e. 0.38). The annual cost of conducting one of these programs, which would have to be offered each year by the hospital due to regular staff turnover, is $85,000. Use the information above to answer the questions below. 1. Enter a formula to calculate what the typical hospital would be willing to pay for a pressure-ulcer prevention program. 2. Should the typical hospital offer such a program to its nursing staff? Briefly explain

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Statistical Audit Automation Applying Computer Assisted Audit Techniques

Authors: Edward J. Winslow

1st Edition

1973281015, 978-1973281016

More Books

Students also viewed these Accounting questions