FW: RE:Competitive pay
Here are the replacement figures now verified with the Advisory Board presentation. Also, I included some info on converting to percentages as some CFOs and Accountants like to see ROI in percentages.
Revenue:
High performing team: 4 Person CDI team = $1.4million x 3 and $700k x 1 (for the manager reviewing charts half-time) = $4.9 million potential (looks about right as other organizations say a 250 bed hospital can do $5 million/year with a great CDI program).
Average performing team: 3 Specialists and 1 manager = $2.45 million
Return on investment (ROI) using the equation:
ROI=(payback - investment/investment)
High Performing Team ROI = ($4.9M-$509.5k)/$509.5k = 8.62
Some financial people like to see and present ROI in percentages. So multiply the number by 100 and add the percent unit. This number would then appear like this 862% and be described this way:
Revenue:
High performing team: 4 Person CDI team = $1.4million x 3 and $700k x 1 (for the manager reviewing charts half-time) = $4.9 million potential (looks about right as other organizations say a 250 bed hospital can do $5 million/year with a great CDI program).
Average performing team: 3 Specialists and 1 manager = $2.45 million
Return on investment (ROI) using the equation:
ROI=(payback - investment/investment)
High Performing Team ROI = ($4.9M-$509.5k)/$509.5k = 8.62
Some financial people like to see and present ROI in percentages. So multiply the number by 100 and add the percent unit. This number would then appear like this 862% and be described this way: