Jump Simulation seeks to measure return on investment (ROI) from the curriculum it develops and hosts. An ROI Committee was established to facilitate the task of placing value on our highest-rated educational programs.
The committee consists of representatives from OSF Innovation - Performance Improvement and Healthcare Analytics – and other OSF HealthCare departments - Business Development, Finance and Nursing and Clinical Education.
The committee evaluates projects in five levels:
1. Reaction gauges whether learners find certain simulations relevant to their work and whether they intend to utilize what they’ve experienced in their practice.
2. Learning determines if simulation participants gained knowledge, skills and confidence from their experience and are able to demonstrate new procedures in a simulated environment.
3. Application measures whether learners are able to apply knowledge gained from the simulation space in the clinical space.
4. Impact seeks to quantitatively state whether the simulation has helped OSF meet a strategic goal such as improved patient outcomes or increasing employee satisfaction.
5. ROI determines whether the benefits of the simulation, monetary or otherwise, are worth the money invested. Non-monetary examples include improved patient experience, teamwork, and employee engagement.
This five-stage process for measuring ROI is based on Measuring ROI in Healthcare: Tools and Techniques to Measure the Impact and ROI in Healthcare Improvement Projects and Programs, 1st Edition (2013) by Jack Phillips, Victor Buzachero, Patti Phillips and Zack Phillips.