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Simulation Center Business Models

Simulation Center Business Models

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Simulation Center Business Models

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  1. Simulation Center Business Models Jane Lindsay Miller, Ph.D. Director, AHC Simulation Center & Interprofessional Education and Resource Center November 7, 2011

  2. Developing “expertise” • Jason S. Moser, University of Delaware • Studies event-related potentials (ERPs) and error-related negativity (ERNs) • Conclusion: Better learners pay closer attention to their mistakes • An expert is “a person who has made all the mistakes that can be made in a very narrow field.” -Nils Bohr

  3. Program development snapshot

  4. Program description • Serve 6 health professions in the AHC: • School of Dentistry • Medical School • School of Nursing • College of Pharmacy • School of Public Health • College of Veterinary Medicine • “Cradle to grave” professional development (pre-health science to continuing education/licensure) • Multi-modal: mannequins, task trainers, standardized patients

  5. Annual program statistics (FY2010) • Over 12,000 learners • Over 55,000 contact hours • Approximately 300 simulation projects • Daily average: 1.09 projects

  6. Beyond utilization: Value on Investment (VOI)

  7. Toward a “value dashboard” • Instrumental goals • Accreditation • Documenting learner outcomes • Recruitment • Service platform • Simulation expertise • Range of services • Cost • “Value adds” • Faculty development • Educational research • Revenue

  8. Generating revenue • Closely articulate revenue generation and mission • “Weekend colleges” have a low ROI • Brand yourself • Combine “reporting” & “marketing” • Think creatively • Consider your unique assets • Consider new partnerships • Revenue streams • Know your REAL costs! • Consider new sources for sponsored programs (e.g. SBIR) • Protect resources for new lines of business and product development

  9. Contact information • AHC Simulation Center & IERC • www.ahcsimcenter.umn.edu • Jane Lindsay Miller, Director • mille142@umn.edu • 612-624-6989