Cost benefit analysis - finance and economics activity

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Reference no: EM13120658

Part 1: Cost Benefit analysis.

You are a Health Information Manager and have heard a lot about the benefits of LED lighting, such as accurate colour temperature, cost and environmental savings. Your department has 5 light fixtures that contain 2 T8 fluorescent tubes and the department operates between 7am and 11pm. Afterhours, all lights are turned out. Consider after-hour access and light usage as negligible.

Perform a cost benefit analysis that examines the replacement of 100 fluorescent lights with LEDs.

You might like to consider:
a) the Australian Standard for lighting to firstly ensure compliance with the standard;
b) Compatibility with current fixtures (T8 linear fluorescent);
c) The lifespans of the types of lights, the running costs and the initial purchase prices; and
d) Would a moderate increase in cost over lamp life be justifiable in terms of the benefits afforded by installing LED lamps?

Part 2: Hospital statistics.

A performance improvement incentive payment has been announced for all HISM Healthcare hospitals to reduce their postoperative infection rates below target levels. You have been asked as the senior health information manager at a 250 bed hospital to determine if the target has been met by graphing the infection rate data for the 12 months from April 2013 to April 2014. Please refer to the attached Excel file for the data.

In order to support HISM Healthcare's commitment to patient safety and the Post-operative Infection Reduction Initiative, the Project Team have been awarded funds to reward hospitals that are able to show a reduction in post­operative acquired infections over the past 6 months as a result of implementing the initiative's strategies.

The payment will be made based on the following reduction targets. HISM Healthcare encourages the reinvestment into our people. Hospitals are free to choose how they will use their awarded funds for staff development.

This may be professional development, conference attendance or a catered event to celebrate the achievements of reducing post-operative infection rates.

Hospital Band
Band 1 (50-100 beds)

6 month reduction target

Incentive Payment

Decrease by 25%

$5,000

Band 2 (101-200 beds)

Decrease by 28%

$7,000

Band 3 (201 - 300 beds)

Decrease by 30%

$9,000

Band 4 (>301 beds)

Decrease by 35%

$12,000





Hospitals must submit their data as a line graph of 12 months of data to April 2014 and include an analysis of these results that demonstrate that as of April 2014, the target has been achieved or exceeded for the hospital band you are reporting for.

The Project Team would also be interested to learn how your hospital intends to reinvest in our people. Please include a brief summary of how your hospital plans to use the funds as the project team will report this in our upcoming newsletter.

Reference no: EM13120658

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