Tool #9 - Estimated Cost Savings Worksheet

The purpose of this worksheet is to guide the hospital in calculating the potential savings resulting from the implementation of technology to reduce medication errors. The amount of savings will vary, depending on organizational characteristics and the technologies under consideration. Suggested users include senior management and department leaders involved with product evaluation, selection, and purchase.
The results of this worksheet can help to direct the hospital toward technologies that offer the most value for the organization in terms of medication safety and financial return. Sources of information would include the results of the organizational assessment and IT vendors. Sample calculations are provided as a guide for the user; please substitute organization-specific data as available.