TY - JOUR
T1 - Estimating Return on Investment in Translational Research
T2 - Methods and Protocols
AU - Grazier, Kyle L.
AU - Trochim, William M.
AU - Dilts, David M.
AU - Kirk, Rosalind
N1 - Funding Information:
The author(s) disclosed receipt of the following financial support for the research, authorship, and/or publication of this article: This work was supported by awards to the University of Michigan CTSA (Grant number 2UL1TR000433); Weill Cornell Medical College CTSC (Grant number UL1RR024996); and Oregon Clinical and Translational Research Institute (OCTRI), Grant number (UL1TR000128) from the National Institutes of Health (NIH) National Center for Advancing Translational Sciences (NCATS).
PY - 2013/12
Y1 - 2013/12
N2 - Assessing the value of clinical and translational research funding on accelerating the translation of scientific knowledge is a fundamental issue faced by the National Institutes of Health (NIH) and its Clinical and Translational Awards (CTSAs). To address this issue, the authors propose a model for measuring the return on investment (ROI) of one key CTSA program, the clinical research unit (CRU). By estimating the economic and social inputs and outputs of this program, this model produces multiple levels of ROI: investigator, program, and institutional estimates. A methodology, or evaluation protocol, is proposed to assess the value of this CTSA function, with specific objectives, methods, descriptions of the data to be collected, and how data are to be filtered, analyzed, and evaluated. This article provides an approach CTSAs could use to assess the economic and social returns on NIH and institutional investments in these critical activities.
AB - Assessing the value of clinical and translational research funding on accelerating the translation of scientific knowledge is a fundamental issue faced by the National Institutes of Health (NIH) and its Clinical and Translational Awards (CTSAs). To address this issue, the authors propose a model for measuring the return on investment (ROI) of one key CTSA program, the clinical research unit (CRU). By estimating the economic and social inputs and outputs of this program, this model produces multiple levels of ROI: investigator, program, and institutional estimates. A methodology, or evaluation protocol, is proposed to assess the value of this CTSA function, with specific objectives, methods, descriptions of the data to be collected, and how data are to be filtered, analyzed, and evaluated. This article provides an approach CTSAs could use to assess the economic and social returns on NIH and institutional investments in these critical activities.
KW - ROI
KW - evaluation
KW - return on research investment
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U2 - 10.1177/0163278713499587
DO - 10.1177/0163278713499587
M3 - Article
C2 - 23925706
AN - SCOPUS:84887427597
SN - 0163-2787
VL - 36
SP - 478
EP - 491
JO - Evaluation and the Health Professions
JF - Evaluation and the Health Professions
IS - 4
ER -