Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

QUESTION 19 In an effort to reduce the costs of back-related worker's compensation claims, Miracle Hospital implemented a safety program that teaches employees the proper

QUESTION 19 In an effort to reduce the costs of back-related worker's compensation claims, Miracle Hospital implemented a safety program that teaches employees the proper mechanics of bending and lifting. The training program costs Miracle Hospital $10,000 to develop. It costs $15,000 per year to implement through mandatory on-line training, department demonstration training and evaluation. In year 1, the average cost of back-related worker's compensation claims was not reduced at all. In year two of the program, the average cost of back-related workers compensation claims was reduced by $15,000. Finally, in year 3, the average cost of worker's compensation claims was reduced by $40,000. 1. What is the ROI ratio based on 3 years of the program? 2. Based on your analysis, what is your recommendation for the future of this training program (expand, eliminate, monitor)? What is your rationale?

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

ISO 13485 Auditing Journal Notes Checklists Observations Evidence Log

Authors: Just Visualize It, The Quality Guy

1st Edition

B08W7SNPGP, 979-8706121884

More Books

Students also viewed these Accounting questions

Question

How can the Internet be helpful in a job search? (Objective 2)

Answered: 1 week ago