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KaiNexus ROI White Paper June 2012

KaiNexus ROI White Paper June 2012

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Published by Mark Graban
Summary:

Kaizen-style improvement programs, such as those facilitated by the KaiNexus™ web-based and mobile technology platform, offer a very compelling ROI. KaiNexus will facilitate measureable “hard” cost savings that flow immediately to your bottom line in terms of lower cost and higher revenue. KaiNexus will also enable your entire organization to quickly implement improvements in quality, patient and staff safety, waiting times, and patient and staff satisfaction. Our data has shown that a typical installation in one department (~300 users) will experience an ROI of more than10:1, whereas a full medical center (~10k users) will experience an ROI of 29:1. This does not include the indirect financial impact of improvements to quality, patient and staff safety, patient and staff satisfaction, or improved training and communication.
Summary:

Kaizen-style improvement programs, such as those facilitated by the KaiNexus™ web-based and mobile technology platform, offer a very compelling ROI. KaiNexus will facilitate measureable “hard” cost savings that flow immediately to your bottom line in terms of lower cost and higher revenue. KaiNexus will also enable your entire organization to quickly implement improvements in quality, patient and staff safety, waiting times, and patient and staff satisfaction. Our data has shown that a typical installation in one department (~300 users) will experience an ROI of more than10:1, whereas a full medical center (~10k users) will experience an ROI of 29:1. This does not include the indirect financial impact of improvements to quality, patient and staff safety, patient and staff satisfaction, or improved training and communication.

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Published by: Mark Graban on Jun 21, 2012
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06/29/2012

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All Contents Copyright KaiNexus LLC, 2012
 
White Paper:
Return on Investment from Using KaiNexus toEncourage and Facilitate Kaizen
making improvement easier™
 June 15, 2012Gregory Jacobson, MD – Chief Executive OfficerMark Graban – Chief Improvement OfficerFor More Information:info@KaiNexus.com www.KaiNexus.com
 
Return on Investment from Using KaiNexus to Encourage and Facilitate Kaizen
All Contents Copyright KaiNexus LLC, 2012
 
Summary:
Kaizen-style improvement programs, such as those facilitated by the KaiNexus™ web-based and mobile technology platform, offer a very compelling ROI. KaiNexus willfacilitate measureable “hard” cost savings that flow immediately to your bottom line interms of lower cost and higher revenue. KaiNexus will also enable your entireorganization to quickly implement improvements in quality, patient and staff safety,waiting times, and patient and staff satisfaction. Our data has shown that a typicalinstallation in one department (~300 users) will likely experience an ROI of morethan10:1, whereas a full medical center (~10k users) will likely experience an ROI of 29:1. This does not include the indirect financial impact of improvements to quality,patient and staff safety, patient and staff satisfaction, or improved training andcommunication.
Data Collected from Use of the KaiNexus Prototype Software:
 Before the official commercial release of KaiNexus’ beta software in 2011, prototypeversions had been used at Vanderbilt University Medical Center since 2005. Calculationswere done, in 2009, looking at a sample of OIs that came out of the KaiNexusprototype. This data is a part of what was published in the journal
 Academic Emergency  Medicine
in December 2009.
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 Based on extrapolating the sample to a medical center with more than 10,000employees, we estimated:
 
$2.5 million in savings per year
 
Eliminate 500 errors per year
 
Implement over 2,600 quality improvements
 
Implement over 550 patient and staff satisfaction improvementsThese numbers are consistent with the Franciscan St. Francis Health System's figuresthat were published by Mark Graban and Joe Swartz in
Healthcare Kaizen
.
KaiNexus Data Since 2011
 Since the official launch of the commercial KaiNexus technology, our customersestimate the impact of each OI as they formally resolve it (close it out) in the systemafter the OI has been implemented and evaluated for its effectiveness. So, the followingdata is not from us, it is from users. Users either check a box that says the OI had animpact in a particular area or they enter an estimate of a quantified result (often withprompting for details from the KaiNexus software).
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Jacobson, Gregory H., N.S. McCoin, R. Lescallette, S. Russ, and C.M. Slovis, “Kaizen: A Method of Process Improvement in the Emergency Department,” Acad. Emerg. Med. Dec;16(12), 2009, 1341–1349.
 
 
Return on Investment from Using KaiNexus to Encourage and Facilitate Kaizen
All Contents Copyright KaiNexus LLC, 2012
 
Improvement for a Typical Department
 In order to make our calculations, we first we came up with the effects of over 600 OIsthat have been completed in the system to date. They are as follows:
612 completed OIs:
 
379 (62%) resulted in a Change
 
233 (38%) resulted in No Change
Of those that resulted in a change, there was an effect on:
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Quality Improvement 56%
 
Staff Satisfaction 34%
 
Patient Satisfaction 13%
 
Patient Safety 11%
 
Staff Safety 3.4%
 
Cost Savings $55,939 (annualized savings)
 
Time Savings 1,461 hours (annualized savings)
Of those that resulted in No Change:
 
Already part of SOP 16%
 
Duplicate 18%
 
Idea not practical/out of our control 15%
 
Not needed 50%In cases where the proposed change was supposed to be part of the current StandardOperating Practice, the organization identified a training and communication gap. Eventhough the SOP does not change, the communication facilitated by KaiNexus can lead tothe more consistent application of SOPs, which can have a positive impact on any of ourimprovement measures.
Extrapolating Data to More Users – An Entire Health System
 Our early KaiNexus customers are currently using the system in one to threedepartments as they work toward organization-wide adoption. The next step is to figureout how many completed OIs one should anticipate across an entire organization.Departments using KaiNexus are completing, on average, one OI per user per year.
3
 
2
An individual OI can affect more than one category.

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