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Cost-Benefit Analysis

Transcript: Cos Benefit Analysis What is? What is it? The cost effectiveness of different alternatives in order to see whether the benefits outweigh the costs When is it used? When it is used Used in Cognitive Behaviour Therapy (CBT) to help someone identify the cognitive and behavioural factors that lead to antisocial behaviours. Through treatment individuals can work towards stopping unwanted behaviours. Cognitive Behaviour Therapy CBT Put simply you cannot change behaviour without cognitive change and you cant have cognitive change without changing behaviour Anti-social behaviours How does it relate to antisocial behaviour? When people engage in anti-social behaviours they have weighted that the benefits outweigh the costs. Exampljsje 1 Examples Stealing Bystander behaviours Bullying Having affairs Exampljsje 1 Why is it imporant? The cost benefit balance often explains whether you choose to engage or refrain from a behaviour. Concept of operant conditioning: people are more likely to repeat behaviours that they are rewarded for.. Benefits > costs If you engage in a behaviour you may be obtaining some kind of pay-off (benefit) and as long as these exist so will the behaviour. Process Process a, b, 1. Creating lists of the costs and benefits List both pros and cons and number them from most significant to least. What you need to do The first step is to consider what are the benefits you get out of a behaviour and what are the costs. The aim of the analysis when treating anti-social behaviour is to try and minimise the benefits and emphasise the costs. List benefits fist, identify alternative ways to obtain the behaviour. Then make a list of the costs 2. Identify pros and cons of alternative behaviours Next Step Benefit of Cost-Benefit analysis Benefits Feelings of control over anti-social behaviours. After engaging in anlysis people work to find skills and techniques to help put a stop to unwanted behaviours. People are choosing to not engage in the focus behaviour Latané and Darley 5 step decision model of helping Within the framework. Step 5: Decide to help Individuals can use the cost-benefit analysis to bring order to thinking and objectivity to make a decision

Cost Benefit Analysis

Transcript: MEDICAL DEVICE COMPANIES Printer nozzle INSURANCE COMPANIES Post processing Software steps Open repair Endovascular Stent Grafting Cleaning Polishing Hospital Reputation Increasing patient volume 3D-Printed Model in JI Print Engineer Time CT SCAN Tango Family- $1198/cartridge Vero Family- $1011/cartridge Support Material- $468/cartridge Material Costs Connections Made Engineer time Cost Analysis- AAA Coach Dr. Dryjski MD, PhD Vascular surgeon at Kaleida Hospital Dr. Schwaitzberg MA,MD,BA Professor and Chairman Department of Surgery UB SOFTWARE STEPS Cost of the model to the hospital for all the 20 cases would be approximately $50,000 Apart from that, assuming we already have a printer, cost of using software programs , approximately $200-300 • Narrative identifying key underlying assumption • Identification of bearer of the cost Projections Kaleida Health Benefits wiper assay Cost savings ENGINEER AID PAPER REFERENCE AAA model Pre surgical Planning-Angio Suite -Create three-dimensional object; -Any shape; -Deposits material onto the tray one layer at a time. Vero Family "A Roadmap from Idea to Implementation 3D Printing for Pre-Surgical Applications" Hui Jenny Chen and Michelle Gariel Education: Recycle models Used for practice and study Support Material Team Members Post processing • Benefits Analysis of using models The aorta is the main blood vessel that supplies blood to the abdomen, pelvis and legs. Surgery is done if the aneurysm is bigger than 2 inches ( 5 centimeters) If the aneurysm tears or ruptures -medical condition - 1 out 5 survive Pamela Marcucci File is sent to the printer The AAA model Tango family Cost Benefit Analysis There are two types of surgery Cost components in building a typical 3-D model by Jacobs Institute Project Executive Graduate Biomedical Engeneering Student Intern at JI Jacobs Institute Comparing cost vs benefits 3-D Model building process Director, Program Development and Outreach at JI • Cost breakdown for printing of models Patient satisfaction: Less pain better procedure Better understanding of procedure UV Bulbs Print heads Wiper Assay Largest nonprofit health care provider in Western New York. Provide health care and emergency stroke care services. Chief teaching associate of the University at Buffalo's Jacobs schools of Medicine and Biomedical Sciences and Dental Medicine. Kaleida's collaboration with UB have delivered state of art clinical care, produce medical breakthroughs and spin-off bio tech business. Image segmentation PHYSICIAN GUIDANCE Thank You Questions Aditi Singh Guilin Zhang Heli Desai Saloni Shah Yanan Song Xiufeng Li • Capital requirements of models Janet Bezinque Director Value Analysis Kaleida Health Dennis Rhoney Finance Director - Kaleida Health Lorene Mariano Director of Vascular Procedural Services COST ` • Identification of cost elements -Non-profit organization; -Advanced training through clinical education program; -i2R Center focuses on developing endovascular devices -3D Printing:Great leap in healthcare,create lifelike environment SOME INSIGHT FROM THE OTHER SIDE Rhys James Clinical Training Engineer Jacobs Institute What is 3D printing Printer time Engineer time HOSPITALS Endovascular Stent Grafting Ryan Hubbell AAA stands for Abdominal Aortic Aneurysm Total cost saving $54,000 Increase contribution Margin Efficiency: By reducing length of stay, potentially increase the patient turnover of hospital Better pre-surgical planning, potentially less OR time Cost savings--reduce additional grafts: Average cost of one grafts $2500 Total case eligible for 3D technology: 20 At least saving $50000: $2500*20 Cost savings--length patient stay: Cost of One day in regular room: $200-400 Cost of one day in ICU: $800-1600 Save one day for each case: total savings=$4,000 More Benefits Benefits Cost Saving $54,000 Benefits Efficiency and Education Benefits Patient volume Hospital reputation To Summarize: What is Jacobs doing? Paving the way for future medical advances How? By drawing towards the aim of employing 3D printing Where? Wide range of medical applications, pre surgical planning! Shaping the future of Healthcare Exploring ways to best harness use of 3D printing by Devising patient-specific models Training physicians and researchers Augmenting clinical research and facilities Outcome- Pre plan operations & to help doctors solve more complicated cases Doctors develop surgical skills in no risk environment Patients to get more individualized care Saves time! Initiative by JI in all spheres- Providing medical modeling options Patient Satisfaction Cost Benefit Analysis show lowered costs for the hospital- when used 3D Even if the costs are high- patient’s contentment with the outcome- help to build goodwill 3D printing- indispensable tool for the future of medicine.

Cost/Benefit Analysis

Transcript: private costs An industrial estate is an area of land developed as a site for factories and other industrial businesses. They are often built outside of major population areas or residential neighborhoods and are easily accessible via roads, rail, and boat. There are many industrial estates situated all around the UK. Thank you! external benefits external benefits -Costs of construction -Planning permission -May not work constantly -Maintenance costs -Easier to get planning permission -Reduction in taxes -More space for buildings -More employment -More money into community -More goods and services exported to the world -Easier access for locals to products so reduction on transport -More international interest and investment New wind farm Background -Cleaner environment -Reduced pressure on fossil fuels -Generation of employment -Increase energy security external costs figures -Energy sold for profits -Receive money through consumer subsidies Conclusion Private costs By Ella, Ellie and Charlotte private benefits Conclusion With the growing concerns about the rapid consumption of the Earth's finite resources such as coal, oil and natural gas, governments all around the world have been trying to use alternative energy resources like wind energy. new industrial estate background Thanks for watching! -Takes up land that could be used for farming -Uses land that people walk on -Pollution given off in countryside when people commute to area -Possible reduction in property value -High land costs -Transport/Congestion costs -Wages for workers and travel expenses -Corporate taxes -Costs of machinery - 506 operational wind energy projects -4,132 onshore turbines -1,075 offshore wind turbine External Costs private benefits -Not always viewed as aesthetically pleasing -Killing of wildlife -Noise effects -Affects property values Cost/Benefit Analysis

cost benefit analysis

Transcript: Cost-benefit Analysis Rules: Cost-Benefit Analysis Limitations: Cost- benefit Analysis Advantages: Cost-Benefit Analysis Thank you ... Logical Framework Transparency and Elimination Unexpected and Intangible Costs Design Evaluation Information Study Period Cost Aim Theoretical Base Definition Cost- Benefit Analysis Vs. Profit and Loss Statement Overview - Effects - Timing Cost- Benefit Analysis Basic Steps:

Cost Benefit Analysis

Transcript: However time would be a factor as if a student had questions or problems then they would have to wait for the tutor to arrive to give any assistance. Communication issues would also be a factor as radios or walkie talkies would have to be provided to students and tutors With outsourcing Tech Support to RM our company does not have to worry about any costs for repairs, time consumption for problem solving would be minimal due to the experience that RM has. However the cost for hiring RM is astronomically expensive If we decided to use the students as our tech support then any problems that arise would give students the chance to interact with customers and gain on the job experience which would be cheaper than Outsourcing in the long run but initial costs would be expensive due to buying all resouces initially Outsource Vs Own Tech Support Outsourcing reduces the time, cost and effort taken to solve any problems. Using your own tech support at the college would allow students to gain valuable work experience with tutor support as assistance Student Tech Support My personal view is to conduct a trial run of 1 month whilst RM is in the post so that after the month we can re-assess to check whether the use of students on tech support would be a viable option. On the flip side of the coin we could re-negotiate with RM and see if we could allow the students to get any on the job experience with them Recomendations Outsourcing Student Tech Support Cost Benefit Analysis Outsourcing Vs Student Training

Cost-Benefit Analysis:

Transcript: Healthy People 2010. (n.d.). Diabetes Retrieved fromhttp:www.healthypeople.gov/2010/document/pdf/Volume1/05Diabetes.pdf Russell, L. (2015). The science of making better decisions about health: Cost-effectiveness and cost-benefit analysis. Agency for Healthcare Research and Quality. Retrieved from http://www.ahrq.gov/professionals/education/curriculum-tools/population-health/russell.html Diabetes Self-management Education Program Boren, S. A., Fitzner, K. A., Panhalkar, P. S., & Specker, J. E. (2009). Costs and Benefit Associated With Diabetes Education: A Review of the Literature. The DiabetesEdu cator. Retrieved from https://www.diabeteseducator.org/docs/default-source/leg acy-docs/_resources/pdf/Costs_and_Benefits.pdf Externalities References Objective Function Patricia Cummings Bethany Foster Megan Kellar Caroline Stroup Rationale A cost-benefit ratio represents the revenue made for every $1.00 of cost (Penner, 2013). If the number is above $1.00, the program is profitable (Penner, 2013). For the DSME program, the cost-benefit ratio equals $1.53, meaning for every dollar spent, the implementation of the program reduces the cost of complications of diabetes by $1.53. Introduction Costs Implications What is the purpose of a cost-benefit analysis (CBA)? A CBA is used to analyze the cost of an organization to implement a program or project compared with the benefits to evaluate the worth (“Evaluating Costs”, n.d.). This can be helpful in decision making because it allows an organization to determine a project's worth. It helps determine if the benefits outweigh the costs versus programs in which the costs outweigh the benefits. This can help evaluate if the program is beneficial for the organization and will better community health (“Evaluating Costs”, n.d.). The benefits analyzed are medical, non-medical, and money costs (Russell, 2015). Evaluating costs and benefits in health care. (n.d.). Retrieved from https://www.princeton.edu/~ota/disk3/1980/8011/801104.PDF Fernandes, J. R., & Zhang, P. (2016). Cost-effectiveness and cost-saving interventions for prevention and control of diabetes. Diabetes Voice, 62(2), 16-20. Retrieved from https://www.idf.org/sites/default/files/ attachments/DV0216-fernandes-zhang.pdf Garfield, K. (n.d.). Reconsidering cost-sharing for diabetes self-management education: Recommendation for policy reform. Retrieved from https:// www.diabeteseducator.org/docs/default-source/advocacy/reconsidering -cost-sharing-for-dsme-chlpi-paths-6-11-2015-(final-draf.pdf?sfvrsn=2 Deakin, T. (2011). Diabetes education drives quality and fuels NHS efficiency savings.Primary Health Care, 21(10), 21-24. Retrieved from http://http://www.nursing-standard.co.uk/ Penner, S. J. (2013). Economics and financial management for nurses and nurse leaders (2nd ed.). New York, NY: Springer. Diabetes increases the risk of comorbidities, complicating quality of life and costing national health systems billions of dollars (Fernandes & Zhang, 2016). DSME does not guarantee lifetime effective diabetes self-care (Haas et al., 2012). Barriers may include socioeconomic or cultural factors, health insurance shortfalls, and lack of encouragement from health providers to seek diabetes education (Haas et al., 2012). Intangibles Diabetes UK. (2013). More than one in four hospital admissions for heart failureare for people with diabetes. Retrieved from https://www.diabetes.org.uk/About_us/News_Landing_Page/Mor e-than-one-in-four-hospital-ad missions-for-heart-failure-are-for-people-with-diabetes Haas, L., Maryniuk, M., Beck, J., Cox, C. E., Duker, P., Edwards, L., . . .Youssef, G. (2014). National standards for diabetes self-management education and support. Diabetes Care, 37 (Supplement_1),144-153. doi:10.2337/dc14-s144 Haas, L., Maryniuk, M., Beck, J., Cox, C. E., Duker, P., Edwards, L., . . . Youssef, G. On behalf of the 2012 Standards Revision Task Force, D. (2012). National standards for diabetes self-management education and support. Diabetes Care, 35(11), 2393-2401. doi:10.2337/dc12-1707 Norris, S. L., Engelgau, M. M., & Narayan, K. V. (2001). Effectiveness of self management training in type 2 diabetes: A systematic review of randomized controlled trials. Diabetes Care, 24(3), 561-587. doi:10.2337/diacare.24.3.561 Benefits Conclusion Benefit-Cost Ratio References Cont'd More than 100 million Americans are at risk for developing complications related to diabetes (Haas et al., 2012). Healthy People 2010 goal was to increase the number of people with diabetes that receive education from 40% to 60% (Healthy People 2010, n.d.). According to the International Diabetes Federation (2015), there have been findings that early intervention and delay or avoidance of progression to type 2 diabetes is of enormous benefit, in terms of increasing life expectancy and quality of life, and potentially in economic terms for society and healthcare payers. There are findings that show that education on self-management and changing lifestyle

Cost Benefit Analysis

Transcript: ✳✱* This method could include the calculation of the costs of relocating villagers use quantitative economic analysis combined with qualitative social and ecological analysis to create a holistic evaluation of the costs and benefits of the proposed dam The loss of productivity due to waterborne diseases. By: Shoaib Akhtar, Sheild Richard, Marques Francisco quantitative analysis Cost Benefit Analysis of Dam Project Proposed Dam Project is Worthwhile irrespective of discount rate 5% or 10% Although the initial cost in first 3 years will have net negative impact assemble and multidisciplinary mixed-methods approach. The first is to attempt to put a quantifiable value on these social and ecological costs Significant Benefit: Hydroelectric power generation ($150,000,000 per year) Improved irrigation for local agriculture ($100,000,000 per year) After Completion Drawbacks After Completion Impact qualitative analysis After Completion Benefit Outweigh the ongoing costs associated with maintenance Lost agricultural land Lost forestry resources Ways social and ecological costs could be incorporated into this analysis discounting of benefits applied (regardless of whether the discount rate is 5% or 10%), the project would still produce a net benefit. Project Accepted

COST-BENEFIT ANALYSIS

Transcript: COST BENEFIT ANALYSIS Utracker Device Presented by Jeanna Monfiero PRODUCT OVERVIEW Utracker chips Device Application Utracker Device Utrackers exists to track and locate items that a person considers as valuable. Utracker consists of: PRODUCT COST Production Cost Over-all Production Cost Includes: hardware manufacturing - $1,643,059.00 application development - $200,000.00 main office/utilities/employees - $775,889.00 other miscellaneous (softwares/ads/supplies) - $63,705.86 $ 2,667,653.86 Initial Number of made Utracker Chips Approx no. of Utrackers to be considered loss (damage/testing/returns) Total number of Utrackers to be sold Number of Utrackers per pack to be sold 100,000 units 100 units 99,900 units 24,975 packs BENEFIT/REVENUE Benefit/Company Revenue Estimated sales when all saleable units are sold Total revenue= initial fixed cost - estimated sales $4,120,875.00 $1,453,221.14 $26.67 $41.25 4 pcs/pack $165.00 Initial cost of Utracker per unit Cost if sold per unit Number of Utrackers per pack (when sold) Suggested retail cost of each pack 16,500 packs $2,722,500 4 to 5 month 12 months Total number of Utrackers needed to be sold to get breakeven point for initial cost Amount for breakeven point (1 year basis) Breakeven point (if all packs are sold in a year) Target months to sell initial products Possible timeline for selling Utracker Chips >Target is 12 months/1st year ANALYSIS ANALYSIS This analysis only covers the initial year and the initial number of units produced. Through the computation, the Utracker company will reach breakeven point around 4-5 month of selling Utrackers worldwide in a span of 1 year. The total revenue is 30% of the initial budget and cost of establishing Utracker company. The total revenue/profit is $1,453,221.14.

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