Fischer-Cartlidge, Erica DNP, RN, AOCNS, EBP (CH); Hoffman, Megan MSN, CNS, CMSRN, AOCNS®, AGCNS-BC, EBP (CH)
Author Affiliations: Interim Director of Nursing (Dr Fischer-Cartlidge), Evidence-based Practice, Memorial Sloan Kettering Cancer Center, Springfield, New Jersey; and Clinical Nurse Specialist (Ms Hoffman), Memorial Sloan Kettering Cancer Center, New York, New York.
The authors report no conflicts of interest.
Correspondence: Erica Fischer-Cartlidge, DNP, RN, AOCNS, EBP (CH), Interim Director of Nursing, Evidence-based Practice, Memorial Sloan Kettering Cancer Center, 76 Warwick Cir Springfield NJ 07081, 609.276.8204 ([email protected]).
The purpose of this article is to provide a guide to identifying measurements of value and how to calculate different types of return on investment (ROI). Exemplars of clinical nurse specialist (CNS) work efforts with ROI will be presented.
Description of the Project/Problem
The CNS is the oldest advanced practice role; however, the role can be vague, making it difficult to articulate the value of the CNS in the organization. Functioning in 3 spheres of impact, the CNS can easily impact practice; however, demonstrating the value of this work is not always on top of mind and is rarely taught in academic programs.
This article describes the difference between revenue generation, cost savings, and cost avoidance, as well as various structural, process, and outcome measures that can be used to calculate ROI. Resources available for performing ROI calculations will be described and shared.
Distributing work across the 3 spheres creates various opportunities for the CNS to demonstrate value; however, the CNS must be able to articulate that value to the organization. Developing the skill set to consistently identify metrics can be challenging; however, it is critical to the ongoing success and future of the CNS role. Utilizing these metrics to demonstrate the value and then disseminating the outcomes of these contributions will continue to promote the value of the CNS in the future.