Introduction to economic assessment – part 4
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Introduction to economic assessment – part 4

Chih Hoong Sin Director, Office for Public Management, London
Ann McMahon Research and innovation manager, Royal College of Nursing, London

This is the final in a series of four continuing professional development articles on economic assessment (EA), more specifically EA in the context of nurse-led service innovation. The series aims to equip readers with an understanding of: (a) the main requirements of EA; (b) definitions of relevant terminology; (c) different EA techniques and their associated strengths and weaknesses; and (d) procedures to assign monetary values to costs and benefits. The series introduces a methodology, with associated tools and templates, that has been used by practising nurses to conduct EAs. The aim of this article is to show readers how to put monetary values on the types of cost incurred, and benefits generated, by a service innovation.

Nursing Management. 21, 8,31-38. doi: 10.7748/nm.21.8.31.e1307

Correspondence

CSin@opm.co.uk

Peer review

This article has been subject to double blind peer review

Conflict of interest

None declared

Received: 10 October 2014

Accepted: 03 November 2014

Keywords :

Economic assessment