1. Welcome to the Indianapolis SUN!

2. Traditional ROI is: Investopedia. (n.d.). Return on investment - ROI. Retrieved from http://www.investopedia.com/terms/r/returnoninvestment.asp “…performance measure used to evaluate the efficiency of an investment or to compare the efficiency of a number of different investments.” (“Investopedia,” n.d.)

3. Traditional ROI is: Investopedia. (n.d.). Return on investment - ROI. Retrieved from http://www.investopedia.com/terms/r/returnoninvestment.asp “…if an investment does not have a positive ROI, or if there are other opportunities with a higher ROI, then the investment should be not be undertaken.” (“Investopedia,” n.d.) “…performance measure used to evaluate the efficiency of an investment or to compare the efficiency of a number of different investments.” (“Investopedia,” n.d.)

4. Sustainability of your simulation program Help insure that the training dollars are providing value to the organization Help insure that the learner is receiving value for time spent in training

5. Thoughtful investment? Thoughtless investment? Or

6. Solution Matrix. (2011). Return on investment. Retrieved from http://www.solutionmatrix.com/return-on-investment.html

7. Remember this: “…hospitals typically measure ROI from a business perspective—cost, revenues or operating efficiencies —but many benefits of clinical applications fall into quality and safety realms that do not easily translate into dollars.” (Page, 2010) Page, D. (2010). IT’s return on investments is tricky to pin down. Hospital & Health Networks. Retrieved from http://www.hhnmag.com/hhnmag_app/jsp /articledisplay.jsp?dcrpath=HHNMAG/Article/data/06JUN2010/1006HHN_Fea_MostWired&domain=HHNMAG

8. Four areas of focus: Organizational Buy In Overcoming Barriers to Simulation Faculty/Personnel Development Curriculum Integration

9. Organizational Buy In ROI (Return on Investment) ROE (Return on Expectation) Utilization Data Collection Evaluation Data Collection – Leading indicators are usually pretty close to accurate Policy and Procedures that are specific to your organization Care about what keeps your organizational leaders up at night Create a value statement – Insure that the stakeholder gets a regularly scheduled report

11. “Business/[organizational] objectives are seen as a starting point.” (“Trainingcheck.com,” n.d.) “’Return on Expectation’ (ROE) is key” (“Trainingcheck.com,” n.d.) “Collective efforts are needed throughout an [organization] to achieve success.” (“Trainingcheck.com,” n.d.) Trainingcheck.com. (n.d.). Kirkpatrick ROE model of training evaluation. Retrieved from http://trainingcheck.com/training-evaluation /kirkpatrick-ROE-model-of-training-evaluation/

12. “Proactive, business partnership approach that unified teams.” “Defines training as a contributor to key business results.” “Value defined by business stakeholders in cooperation with training.” “Focus on comprehensive evidence and a compelling story of value.” “Easy to understand, flexible, and cost-effective.” Kirpatrick, JD, Kirkpatrick, WK. (2010). ROE’s rising star: Why return on expectations is getting so much attention. Training + Development. Retrieved from http://www.astd.org/TD/Archives/2010/Aug/Free/1008_ROEs_Rising_Star.htm

13. To prove either ROI or ROE, you must have data to base your return on.

14. ROI in Healthcare- Using data to demonstrate a positive impact on the organization through the use of simulation – This can include unexpected results ROI in operations- Use, or utilization – Tool for determining when you are under utilizing/over utilizing your resources ROI in customer service- Were our customers satisfied with the simulation experience? – Can become a tool for measuring the effectiveness of your instructors/simulations ROI in academic learning- Assessment – Process driven checklist type of scoring

15. The effectiveness of your program is only as relevant as the effectiveness of the tool(s) that you are using to measure it by. Using the Kirkpatrick model, as one example, you can and should measure the effectiveness of the learning objectives met right after the simulation and then again 6 months later. Is the behavior reflecting what was learned during simulation (Debriefing)? Report this back to the stakeholder. Are you indicating a beneficial return on investment?

16. WakeMed-Amar Patel

27. Value 1- Simulation is only valuable if you use it. – A simulator that is unused/under utilized has no value. Worse, it is a cost center and a financial drain on the organization.

28. Value 2.- Educationally effective simulation not only allows the learners to “connect the dots”, but it also can change behaviors in an organization. – The result can allow you to focus your training dollars to effect – Reduce your malpractice costs – Reduce time spent in training – Improve patient outcomes

29. Value 3.- Use as a recruiting tool to draw in candidates that increase the overall value of your organization.

30. Value 4.- Repeatability regardless of the patient census at any given moment. – Allows for a consistent product to be delivered to the learners.

31. Best Practice Committee. (2002). The Value of IT investments: It’s not just return on investments. Retrieved from http://www.cio.gov/documents /thevalueof_it_investments.pdf Big Dog & Little Dog’s Performance Juxtaposition. (n.d.). Kirkpatrick’s four-level training evaluation model. Retrieved from http://www.nwlink.com/~donclark/hrd /isd/kirkpatrick.html Cooke, M., Irby, D., Sullivan, W., & Ludmerer, K. (2006). American medical education 100 years after the Flexner report. The New England Journal of Medicine, 355(13), 1339-1344. Investopedia. (n.d.). Return on investment - ROI. Retrieved from http://www.investopedia.com/terms/r/returnoninvestment.asp Kirpatrick, JD, Kirkpatrick, WK. (2010). ROE’s rising star: Why return on expectations is getting so much attention. Training + Development. Retrieved from http://www.astd.org/TD/Archives/2010/Aug/Free/1008_ROEs_Rising_Star.htm Markow, M. (2011). Business terms glossary. BusinessWings. Retrieved from http://www.businesswings.co.uk/articles/Business-terms-glossary Page, D. (2010). IT’s return on investments is tricky to pin down. Hospital & Health Networks. Retrieved from http://www.hhnmag.com/hhnmag_app/jsp /articledisplay.jsp?dcrpath=HHNMAG/Article/data/06JUN2010/1006HHN_Fea_MostWired&domain=HHNMAG Robert Wood Johnson Foundation. (2011). Glossary of healthcare terms. Quality/Equality. Retrieved from http://www.rwjf.org/qualityequality/glossary.jsp SBA.gov. (2011). Essential elements of a good business plan. Retrieved from http://www.sba.gov/category/navigation-structure/starting-managing-business /starting-business/writing-business-plan/essential-elements-good-busines Smith, R. (2009). Embracing game technology for medical education. Retrieved from http://www.peostri.army.mil/CTO/FILES 2009_RSmith_MT3.pdf Solution Matrix. (2011). Return on investment. Retrieved from http://www.solutionmatrix.com/return-on-investment.html Trainingcheck.com. (n.d.). Kirkpatrick ROE model of training evaluation. Retrieved from http://trainingcheck.com/training-evaluation /kirkpatrick-ROE-model-of-training-evaluation/ Research in Simulation: Using Data to Help Improve a Return on Investment Amar P. Patel, MS, NREMT-P, CFC Laerdal SUN Conference Foxwoods 2012