Developing a Cost Benefit Analysis Methodology

Jamaica Hospital Medical Center (JHMC) strives to provide accessible, cost-effective, high-quality health care. Recently, JHMC has implemented three pilot care-transition programs: 1) The Intensive Multidisciplinary Primary Care Team (IMPACT), 2) the Community-Based Care Team (CBCT), and 3) the Hospital Care Transitions Team (CTT). The programs have yielded cost savings for JHMC, and attention to best practices in care coordination has resulted in major improvements in patient care. In the face of diminishing government funds, JHMC requested a Capstone team to develop a cost-benefit analysis methodology to utilize as a demonstration tool to key stakeholders that the programs have positive financial outcomes and patient care improvements. After extensive research and analysis, the team delivered a literature review outlining successful methodologies implemented by other institutions and best practices for achieving accurate calculations, and a methodology to assess the costs and benefits for future care management programs and similar patient-centric initiatives.