Rev. OFIL 2017, 27;1:67-78
Fecha de recepción: 22/03/2016 – Fecha de aceptación: 25/07/2016
Nuñez GE1, Ortega AC2
1 Farmacéutica. Especialista en Farmacia Hospitalaria. Coordinadora Sección Farmacia.
Hospital de Niños de la Santísima Trinidad. Córdoba (Argentina)
2 Farmacéutica. Magíster en Gerencia y Administración en Servicios de Salud. División Farmacia.
Hospital Materno Neonatal “Ministro Dr. Ramón Carrillo”. Córdoba (Argentina)
Hospital de Niños de la Santísima Trinidad
Bajada Pucará esquina Ferroviarios
5000 Córdoba (Argentina)
Correo electrónico: firstname.lastname@example.org
Objective: To assess whether the implementation of a Centralized Intravenous Mixture Unit (CIVMU) designed for the preparation of Total Parenteral Nutrition (TPN) of three Hospitals, dependents of the Health Minister of Cordoba, Argentina, will generate the cost reductions necessary to justify the implementation of the project.
Methodology: We apply capital budgeting techniques to assess this investment. For each operating year of the project (years 1 through 10) we forecast the annual incremental cash flow that summarizes i) annual cost savings (ACS) to be gained from the development of CIVMU, relative to the alternative of buying TPN, and ii) the required investments (mounting the CIVMU) for those ACS. Net Present Value (NPV) and Internal Rate of Return (IRR) was used to determine whether the project should be accepted or rejected at a discount rate (DR) of 12%.
Rule acceptance/rejection, NPV ≥0 the project is profitable, the investor (hospitals, in this case) will increase its wealth. If NPV <0, the investment would subtract value, and the realization would not be appropriate. IRR ≥ the cost of capital or DR, investment is desirable.
Results: 11,244 TPN Annual Demand Units. CIVMU assembly requires initial investment $3,527423.82 that will allow ACS of $27,344811.06. NPV positive $150,235393.86. IRR 775%, greater than the DR (12%).
Conclusion: Under the assumptions made regarding the values of TPN demand of the three hospitals, costs and investments, the project is very profitable and convenient execution.
Key Words: Intravenous Mixture Unit, economic evaluation of investment projects, Total Parenteral Nutrition, Net Present Value, Internal Rate of Return.