What is the return on investment for laboratory medicine? The antidote to silo budgeting in diagnostics

2020 ◽  
Vol 26 (6) ◽  
pp. 1-8
Author(s):  
Christopher P Price ◽  
Patrick McGinley ◽  
Andrew St John
Keyword(s):  
Return On Investment ◽  
Care Pathway ◽  
Laboratory Medicine ◽  
Value Proposition ◽  
Clinical Process ◽  
A Value ◽  
Laboratory Services ◽  
The Cost ◽  
The Impact ◽  
Test Result

Procuring and managing diagnostic services, such as laboratory medicine, is generally based on cost and activity. Improving productivity of laboratory services therefore tends to focus on reducing the cost per test. However, this approach fails to recognise the impact of the test result on the other stakeholders involved in delivering care to the patient across the care pathway. Any assessment of the return on investment from a diagnostic service therefore needs to be undertaken together with a value proposition established for the service. This will enable the clinical, process and economic impact for all stakeholders to be assessed, which can then be used to develop an implementation plan that ensures the expectations of all stakeholders can be addressed.

Return on Invesment (ROI) of Software Product: A Systematic Literature Review

2015 ◽  
Vol 6 (1) ◽  
pp. 50-57
Author(s):  
Rizqa Raaiqa Bintana ◽  
Putri Aisyiyah Rakhma Devi ◽  
Umi Laili Yuhana
Keyword(s):  
Return On Investment ◽  
Assessment Criteria ◽  
Software Product ◽  
And Performance ◽  
Rational Consideration ◽  
Actual Return ◽  
The Cost ◽  
Investment Models ◽  
The Impact

The quality of the software can be measured by its return on investment. Factors which may affect the return on investment (ROI) is the tangible factors (such as the cost) dan intangible factors (such as the impact of software to the users or stakeholder). The factor of the software itself are assessed through reviewing, testing, process audit, and performance of software. This paper discusses the consideration of return on investment (ROI) assessment criteria derived from the software and its users. These criteria indicate that the approach may support a rational consideration of all relevant criteria when evaluating software, and shows examples of actual return on investment models. Conducted an analysis of the assessment criteria that affect the return on investment if these criteria have a disproportionate effort that resulted in a return on investment of a software decreased. Index Terms - Assessment criteria, Quality assurance, Return on Investment, Software product

scholarly journals Legal Complexities of Animal Welfare in Australia: Do On-Animal Sensors Offer a Future Option?

Animals ◽  
2021 ◽  
Vol 11 (1) ◽  
pp. 91
Author(s):  
Jaime Manning ◽  
Deborah Power ◽  
Amy Cosby
Keyword(s):  
Animal Welfare ◽  
Data Transmission ◽  
Continuous Measurement ◽  
Mental Wellbeing ◽  
Value Proposition ◽  
Data Governance ◽  
Behavioural State ◽  
A Value ◽  
Welfare Measures ◽  
The Cost

The five freedoms and, more recently, the five domains of animal welfare provide internationally recognised frameworks to evaluate animal welfare practices which recognise both the physical and mental wellbeing needs of animals, providing a balanced view of their ability to cope in their environment. Whilst there are many techniques to measure animal welfare, the challenge lies with how best to align these with future changes in definitions and expectations, advances in science, legislative requirements, and technology improvements. Furthermore, enforcement of current animal welfare legislation in relation to livestock in Australia and the reliance on self-audits for accreditation schemes, challenges our ability to objectively measure animal welfare. On-animal sensors have enormous potential to address animal welfare concerns and assist with legislative compliance, through continuous measurement and monitoring of an animal’s behavioural state and location being reflective of their wellbeing. As reliable animal welfare measures evolve and the cost of on-animal sensors reduce, technology adoption will increase as the benefits across the supply chain are realised. Future adoption of on-animal sensors by producers will primarily depend on a value proposition for their business being clear; algorithm development to ensure measures are valid and reliable; increases in producer knowledge, willingness, and trust in data governance; and improvements in data transmission and connectivity.

scholarly journals Evaluation of Laboratory Tests in Hospitals

1980 ◽  
Vol 17 (6) ◽  
pp. 281-286 ◽  
Author(s):  
JA Stilwell ◽  
D Young ◽  
A Cunnington
Keyword(s):  
Laboratory Tests ◽  
Patient Management ◽  
Value For Money ◽  
Unique Information ◽  
A Value ◽  
Medical Emergencies ◽  
The Cost ◽  
Test Request ◽  
Test Result

The use of laboratory tests in the management of 174 randomly selected patients admitted as acute medical emergencies was monitored in detail. The occasions when a test result changed patient management, and the nature of that change, were noted. Tests were classified according to information yielded and the importance of any action taken. For biochemistry alone every test result was costed. A ranking for all tests was produced, in terms of expected actions per test, and for biochemistry a ‘value for money’ table giving actions per pound spent. Every test request was classified as either discretionary or non-discretionary. The discretionary category was further subdivided into diagnostic and monitoring. The values, in terms of action-producing results, of non-discretionary, diagnostic, and monitoring tests were compared, and this comparison showed that the cost per item of helpful information was about £10 for diagnostic, £23 for monitoring, and £20 for non- discretionary tests. In total, £1790 was spent, and 28 items of unique information were yielded, enabling clinicians to discharge five patients, take seven courses of action which would have had serious consequences if omitted, and 16 actions the omission of which would have led to very serious consequences.

scholarly journals Techniques for designing value propositions applicable to the concept of outcome-economy

2017 ◽  
Vol 9 (1) ◽  
pp. 56-63 ◽  
Author(s):  
Sylwia Gierej
Keyword(s):  
Internet Of Things ◽  
Value Proposition ◽  
Industrial Internet Of Things ◽  
A Value ◽  
Industrial Internet ◽  
Innovative Solutions ◽  
Value Propositions ◽  
The Impact

Abstract The purpose of this article is to analyse and present some techniques that support the design of a value proposition in the context of the outcome-economy. The proposed techniques are intended to support traditional companies in the design of innovative solutions. Also, the discussed techniques were compared to identify the most effective. The study was conducted based on the information available in the literature on the impact of the Industrial Internet of Things on the economy and creation of a value proposition.

scholarly journals Evaluation of Land Subsidence Impact at Lowland Areas Using Analitycal Hierarchy Process (AHP) Method

2018 ◽  
Vol 68 ◽  
pp. 04017 ◽  
Author(s):  
Andriani ◽  
Eddy Ibrahim ◽  
Dinar Dwi Anugerah Putranto ◽  
Azhar Kholiq Affandi
Keyword(s):  
Land Subsidence ◽  
Social Aspects ◽  
Ahp Method ◽  
A Value ◽  
The People ◽  
Indirect Impact ◽  
Tidal Area ◽  
The Cost ◽  
The Impact ◽  
Hierarchy Process

Land subsidence is a problem that often occurs in lowland areas. The impact of land subsidence causes losses in the economic, physical, ecological and social aspects. The impact of land subsidence could be felt directly and indirectly by the people, so an evaluation of the most frequent (dominant) impacts needs to be done. One method that could be use for assesment using AHP, using pairwise comparisons can be obtained the most frequent (dominant) land subsidence impact. From the results of the study indicate that the direct impact due to land subsidence (weight 0.608)) is more dominant than the indirect impact (0.392). Based on the value of each parameter, three dominant land subsidence impacts are infrastructure damage with a value of 0.387, an increase in the cost of infrastructure construction and maintenance with a value of 0.193 and a flood of 0.129. The results of observations and ground checking at the Tanjung Api-Api area, there was damage to several floors of residents' homes, damage to road and tilt of trees which were damaged in the economic field was the most dominant impact. While floods and seawater intrusion are not dominant in this area because the area is located in the tidal area.

scholarly journals Green Co-Creation Strategies among Supply Chain Partners: A Value Co-Creation Perspective

2020 ◽  
Vol 12 (10) ◽  
pp. 4305 ◽  
Author(s):  
Genzhu Li ◽  
Xianliang Shi ◽  
Yefei Yang ◽  
Peter K. C. Lee
Keyword(s):  
Supply Chain ◽  
Value Functions ◽  
Green Innovation ◽  
A Value ◽  
Manufacturing Supply Chain ◽  
Green Investment ◽  
The Cost ◽  
The Impact ◽  
Resource Shortage

In response to the global fight against environmental deterioration and resource shortage, many governments call on firms to implement green innovation strategies. However, for most small and medium-sized firms, the high cost of green innovation makes it difficult to achieve green goals, causing the need for a growing number of firms to cooperate with their supply chain partners on green innovations. Thus, this study explores, from a value co-creation perspective, how supply chain partners share the investment in, and benefits of, green innovation, assuring their long-term cooperation. Based on a three-level manufacturing supply chain, this paper proposes three different types of green co-creation strategies (i.e., the manufacturer and its supplier, the manufacturer and its competitor, the manufacturer and its retailer). We set the mechanism of co-creation to share the cost of green investment and consider the impact of co-creation on the sales of supply chain partners. Then, by constructing the value functions of three co-creation strategies and proving the concavity of these functions, the findings indicate that different co-creation strategies can indeed improve the firm’s profit in a certain range and achieve a different maximum value in a certain green investment sharing point. This study enriches the literature on green co-creation in supply chains by combing green investment sharing strategies among supply chain partners with value co-creation. In addition, this study provides manufacturers with guidelines on how to share green costs and choose a green co-creation strategy in different operational environments.

scholarly journals Total testing process applied to therapeutic drug monitoring: impact on patients’ outcomes and economics

1998 ◽  
Vol 44 (2) ◽  
pp. 370-374 ◽  
Author(s):  
Gerald E Schumacher ◽  
Judith T Barr
Keyword(s):  
Therapeutic Drug Monitoring ◽  
Drug Monitoring ◽  
Therapeutic Drug ◽  
Serum Drug Concentration ◽  
Patient Centered ◽  
Total Testing Process ◽  
Economic Analyses ◽  
The Cost ◽  
The Impact ◽  
Test Result

Abstract The Total Testing Process (TTP) refers to the sequence of 11 steps of laboratory testing, beginning with a clinical question prompted by the patient–clinician encounter and concluding with the impact of the test result on patient care. TTP when applied to therapeutic drug monitoring (TDM) emphasizes that TDM must be considered a process involving a series of steps and interrelated activities and not viewed simply as a numerical value for a serum drug concentration. TTP is also an ideal format for organizing and identifying the system-related and patient-centered variables used in outcomes assessment of TDM, as well as providing a template for collecting the cost data needed for economic analyses. Examples are provided for improving application of TDM by practitioners, clinical laboratories, and educators.

Anatomy of a value proposition for laboratory medicine

2014 ◽  
Vol 436 ◽  
pp. 104-111 ◽  
Author(s):  
Christopher P. Price ◽  
Andrew St John
Keyword(s):  
Laboratory Medicine ◽  
Value Proposition ◽  
A Value

scholarly journals Analisis pengaruh biaya kualitas dalam meningkatkan profitabilitas perusahaan PT. Putra Karangetang

2020 ◽  
Vol 2 (1) ◽  
pp. 52
Author(s):  
Ridel Tambingon ◽  
Herman Karamoy ◽  
Sonny Pangerapan
Keyword(s):  
Return On Investment ◽  
Qualitative Method ◽  
Considerable Influence ◽  
Quality Cost ◽  
Quality Costs ◽  
Net Profit ◽  
The Cost ◽  
The Impact ◽  
Descriptive Qualitative

Measuring quality qualitatively gave rise to the term quality cost. Quality costs at PT. Putra Karangetang turned out to have a considerable influence on the profitability of the Company, where by allocating greater costs to control and valuation would reduce the costs of internal failure and the cost of external failure so that the impact on profit was increasing. The purpose of this study was to analyze the effect of quality costs in increasing profitability at PT. Putra Karangetang. The method used is descriptive qualitative method and using Return On Investment (ROI) as a measure of company profitability. ROI value is influenced by the company's net profit compared to the company's total assets, and the results of research prove that quality costs incurred to produce quality products, and the contribution of quality costs greatly affect the increase in profitability of the company.

scholarly journals Impact of H-Index Toward Citations Using Linear Regression on Science and Technology Index

2018 ◽  
pp. 237-246
Author(s):  
Dihin Muriyatmoko ◽  
Lalu Ganda Rady Putra
Keyword(s):  
Higher Education ◽  
Linear Regression ◽  
Science And Technology ◽  
Research Focus ◽  
H Index ◽  
Research Technology ◽  
A Value ◽  
The Government ◽  
The Impact ◽  
Test Result

Number of Journals in Indonesia is quite a lot and various disciplines. Until March 15, 2018, registered 50,889 online and print ISSN by Indonesian Institute of Science (LIPI). The government through Ministry of Research, Technology, and Higher Education of Republic Indonesia (Kemenristekdikti) set regulated on journal index, that is Science and Technology Index (SINTA) assigned to rank quality content and management divided by six categories called S1 to S6 which of the data is taken from Google Scholar and Scopus. This research applies S1 that these journals are accredited “A” by Kemenristekdikti and or index by Scopus. That’s data is shown ranking by sorted based on h-index and citations. S1 shown that journal which has highest h-index uncertain have highest citations too, even some have zeroes. That’s data on S1 become strange and awkward when compared with S2 to S6 because some value of h-index and citations S1 is lower than S2 to S6. This research focus to find how strong correlation or impact h-index toward citations using linear regression. The test result shows that value of Multiple R = 0.78 indicates the correlative is very close, a value of R Square = 0.61 indicates the impact of h-index toward citations achieve 61% and the rest 39% affected by others factor.

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