The executive team at the Royal Brisbane and Women’s Hospital (RBWH) face many challenging investment decisions. They are committed to ensuring the efficient allocation of funding to initiatives that provide greatest return on investment while also delivering quality patient outcomes.
With finite resources and competing complex decisions operating within limited timeframes, the RBWH executive team recognised the need for an evidence-based evaluation method that would objectively compare each initiative vying for funding. The method would clearly map out which initiatives are of the highest value, allowing executives to make better informed investment and, if necessary, disinvestment decisions.
RBWH engaged AusHSI to execute their vision for a fast, unbiased and easy-to-use method of evaluation. AusHSI worked in close consultation with RBWH to develop and test a decision analysis technique that would:
- assess the outcomes of retrospective projects
- assess already implemented projects to support any disinvestment decisions
- compare prospective projects for investment decisions moving forward
AusHSI created a multi-criteria decision analysis tool that applies a number of key facts and figures from each project and assesses them against criteria such as financial impact, effect on hospital capacity, patient outcomes, risk and safety. Results are then visually presented within the tool, making each project comparable. This allows the executive team to:
- compare multiple projects against multiple criteria
- quickly and easily identify the projects with the highest and lowest value
- make explicit and transparent decisions when allocating or withdrawing project funding
AusHSI continues to support RBWH in implementing this method, with tests currently underway to assess how results from the tool compare with the original way of making funding decisions.
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