Assignment: Financial Side of Education

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Assignment: Financial Side of Education

Assignment: Financial Side of Education

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Each of these articles contributes to the body of literature demonstrating the value of professional development activ- ities through economic impact evaluations. Through increasing awareness of the financial side of education, the authors pointed out the role education plays, which is beneficial to both patients and healthcare organizations by

n reducing central line-associated bloodstream infectionsVboth infection rates and saving lives;

n decreasing length of stay; n preventing pressure injuries; n improving staff confidence in high-risk, low-volume procedures, that is, peritoneal dialysis; and

n decreasing surgical site infections. As nurses, our focus is on improving the well-being

and comfort of our patients, including decreasing patient length of stay, decreasing risk of infections, and preventing pressure ulcers. AsNPDpractitioners, calculating the finan- cial impact of educational interventions bymeasuring the outcomes can change the perspective of organizational leaders toward education from one of activities to meaning- ful accomplishments with great benefit to the organization.

HIGHLIGHTS FROM ARTICLES NOT INCLUDED IN SYNTHESIS Through review of the literature, five additional articles revealed benefits to the effort to demonstrate the economic value of NPD activities but did not have all the information needed for inclusion in the synthesis. Spetz, Brown, Aydin, and Donaldson (2013) studied implementing nursing ap- proaches to prevent hospital-acquired pressure ulcers. The authors’ conclusion was that surveillance and preven- tion of hospital-acquired pressure ulcers can be cost-saving

and should be considered a strategy by nurse executives as demonstrated by a net savings of $127.51 per patient. This study did not provide information on costs for personnel training, except in the fixed costs, so it was excluded from synthesis.

Curado and Teixeira (2014) used the Kirkpatrick levels model to evaluate training programs in a small logistics company. The authors estimated the fifth level of the modelVROI by reviewing (a) performance reports, (b) attained objectives, (c) service and productivity levels, (d) quality audits, and (e) accounting data. The training programs addressing work quality and conditions had above average returns, and the program on corporate so- cial responsibility producedbelow average results. Barriers to successful ROI estimation were reported as lack of qual- ification to calculate personnel time and financial resources consumed. Curado and Teixeira discussed the long-term challenge of human resource managers to pragmatically obtain accurate data to calculate learning benefits as sty- mied until Phillips and Phillips (2009) and Noe (2010) added ROI to the fifth level of Kirkpatrick’s model.


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