JORDAN SPILLANE
Innovating Healthcare | Inspiring leadership
Advancing patient care through expertise, advocacy, and innovation.
Meet Dr. Jordan Spillane
As the Director of Ambulatory Pharmacy Services at Froedtert Health, Dr. Spillane is dedicated to transforming healthcare through innovative pharmaceutical care models and patient engagement.With over a decade of leadership experience, a Doctor of Pharmacy degree from Purdue University, and a passion for mentoring and advocacy, she has made impactful contributions to healthcare and legislative advancements.Explore her expertise in pharmacogenomics, vaccine management, and health system improvements, and discover how her vision continues to drive meaningful change in patient care and pharmacy practice.
The ROI of Innovation: How to Calculate and Present the Value of New Pharmacy Services
Dr. Jordan Spillane shares practical strategies for calculating and presenting the Return on Investment (ROI) of innovative pharmacy services. Drawing from extensive experience in healthcare leadership, Dr. Spillane outlines steps to define success metrics, estimate costs and benefits, and effectively communicate ROI to stakeholders. The insights emphasize the value of pharmacy innovations in improving patient care, enhancing organizational outcomes, and fostering support for transformative initiatives.
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Driving Innovation in Ambulatory Care: Implementing Novel Pharmaceutical Models
Description:
In this keynote, Dr. Spillane shares her experiences and strategies for developing and implementing innovative care models in ambulatory pharmacy settings. She discusses how to identify gaps in patient care, design effective solutions, and navigate the challenges of implementation within complex healthcare systems.
Key Takeaways:
Strategies for identifying opportunities for innovation in ambulatory care
Techniques for building support and securing resources for new care models
Case studies of successful implementations, including ROI calculations and outcomes
Overcoming common barriers and resistance to change in healthcare settings
The Power of Engaged Teams: Elevating Patient Care Through Leadership
Description:
Dr. Spillane explores the critical connection between staff engagement and patient outcomes in healthcare. Drawing from her experience achieving high engagement scores, she offers insights into creating a positive work environment that empowers healthcare professionals to deliver exceptional patient care.
Key Takeaways:
Leadership strategies for fostering a culture of engagement and innovation
Techniques for aligning team goals with organizational objectives and patient needs
Approaches to mentoring and developing healthcare professionals
Methods for measuring and improving staff engagement in high-pressure healthcare settings
Beyond the Pharmacy: Expanding the Impact of Pharmacists in Healthcare
Description:
This keynote focuses on the evolving role of pharmacists in modern healthcare. Dr. Spillane shares her insights on how pharmacists can expand their influence, contribute to interdisciplinary care teams, and drive system-wide improvements in patient care.
Key Takeaways:
Emerging opportunities for pharmacists to impact patient care beyond traditional roles
Strategies for collaborating effectively with other healthcare professionals
Case studies on innovative pharmacy-led initiatives (e.g., Ambulatory Antimicrobial Stewardship, Digital Care Monitoring)
Advocacy techniques for expanding the role of pharmacists through policy and legislation
The ROI of Innovation: How to Calculate and Present the Value of New Pharmacy Services
As healthcare leaders, we often find ourselves at the crossroads of innovation and fiscal responsibility. We see opportunities to improve patient care through new pharmacy services, but we're faced with the challenge of justifying these initiatives to stakeholders who are understandably focused on the bottom line. In my years as Director of Ambulatory Pharmacy Services at Froedtert Health, I've learned that the key to bridging this gap lies in effectively calculating and presenting the Return on Investment (ROI) for new pharmacy services.
Why ROI Matters in Pharmacy Innovation
Before we dive into the how, let's address the why. ROI calculations are more than just numbers on a spreadsheet – they're a powerful tool for:
Validating the value of your innovative ideas
Securing resources and support from leadership
Setting clear expectations and goals for new initiatives
Demonstrating the impact of pharmacy services on overall patient care and organizational success
Steps to Calculate ROI for New Pharmacy Services
1. Define Your Metrics
Start by clearly defining what success looks like for your new service. This might include:
Improved patient outcomes (e.g., reduced hospital readmissions, better medication adherence)
Cost savings (e.g., reduced medication waste, prevented adverse events)
Revenue generation (e.g., new billable services, increased prescription capture)
Operational efficiencies (e.g., time saved, reduced errors)
2. Gather Baseline Data
Before implementing your new service, collect data on your current state. This will serve as your comparison point and help you demonstrate the impact of your innovation.
3. Estimate Costs
Calculate all costs associated with implementing and running the new service, including:
Staff time and training
Technology or equipment purchases
Marketing and patient education materials
Ongoing operational costs
4. Project Benefits
Based on your defined metrics, estimate the potential benefits of your new service. Be conservative in your estimates to maintain credibility.
5. Calculate ROI
Use the basic ROI formula:
ROI = (Net Benefits - Costs) / Costs x 100
This will give you a percentage that represents the return on your investment.
Presenting Your ROI to Stakeholders
Now that you have your ROI calculation, it's time to present it effectively:
1. Tell a Story
Numbers alone rarely inspire action. Frame your ROI in the context of patient care improvement and organizational goals. For example, when presenting our Digital Care Monitoring for Hypertension program, we didn't just talk about cost savings – we highlighted how it would help us reach more patients and improve blood pressure control rates.
2. Use Visual Aids
Graphs, charts, and infographics can help stakeholders quickly grasp the potential impact of your initiative. Visual representations of projected outcomes over time can be particularly compelling.
3. Address Non-Financial Benefits
While ROI is often expressed in financial terms, don't forget to highlight non-financial benefits such as improved patient satisfaction, enhanced reputation, or alignment with industry trends.
4. Provide Concrete Examples
If possible, include case studies or pilot data from similar initiatives in other organizations. This helps stakeholders envision the potential success in your own setting.
5. Be Prepared for Questions
Anticipate potential concerns and have detailed answers ready. This might include sensitivity analyses showing ROI under different scenarios or plans for mitigating potential risks.
Continuous Evaluation and Reporting
Remember, calculating and presenting ROI isn't a one-time event. Once your initiative is approved and implemented:1. Regularly collect data to track actual performance against projections
2. Be transparent about both successes and challenges
3. Use this ongoing data to refine your services and inform future innovationsBy mastering the art of ROI calculation and presentation, you'll be better equipped to turn your innovative pharmacy service ideas into reality. More importantly, you'll be able to demonstrate the crucial role that pharmacy services play in advancing patient care and organizational success.Remember, every successful innovation started with someone willing to make the case for change. By effectively communicating the ROI of your ideas, you're not just securing resources – you're paving the way for better patient care and a more efficient healthcare system.