An Economic Analysis of Patient Simulators for Clinical Training in Nursing Education

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Executive SummaryWith the advent of patient simulators in clinical training emerges a need to study the impact of the technology on competency, efficiency, and costs of training.In response to the faculty shortage, a Regional Simulation Center was created for use by a two area nursing programs and a hospital.The center was staffed by a master's-prepared director, four bachelor's-prepared nurse educators, a secretary, and a part-time computer technician.Using a discounted cash flow methodology, the analysis evaluated the difference between three stand-alone versus one regional center in terms of facility, equipment, and faculty costs.While the faculty cost savings was significant, the investment costs and assumptions regarding revenue in this situation outweighed the savings.

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