Over 400,000 deaths of Americans annually are due to cardiac arrest, where over 350,000 of those cardiac arrests are OHCA. SCA is so common that it can happen to anyone regardless of their age and sex. Immediate CPR response can double or even triple the chances of survival, so having the proper CPR education and knowledge makes a difference.
Return on investment is a monetary calculation used to determine whether the investment in something was worth the cost. We can’t really put a price on saving someone’s life, but we can measure whether investing in CPR is worth the trouble. Let’s take a look at how the ROI of CPR works.
The Cost of Inaction
The cost of inaction is a broad term encompassing quite a few things. A general definition includes incurring losses and expenses by delaying the action when opportunities arise. In terms of CPR, the cost of inaction refers to the inability to effectively and immediately react and perform decent CPR.
While many worry about the CPR’s legal risks, not many know that inaction is far riskier. Not having the confidence to react fast enough in an SCA or any sort of emergency situation could mean life or death for the person in front of us. When we want to help save lives, the biggest cost of inaction is losing a human life.
The Economics of Saving Lives
The real economics of saving lives can be calculated with the return on investment of CPR. As human, we cannot put a price on any life, so we cannot really talk about the financial aspect. However, we can compare the benefits and challenges of CPR and compare whether they are worth the money we spent on CPR training.
Benefits of CPR
There are wide benefits to implementing CPR training. Saving lives is one of the biggest benefits of CPR. The more people are educated about CPR, the more they will contribute to saving more lives. Bystander CPR is known to double or even triple the chances of survival for an SCA victim.
The improved survival rates will then create a ripple effect where it’s not about being a hero. Instead, it’s about the community in Dallas and everyone’s general safety. That’s why communities and employers do their best to educate more people on the right CPR techniques.
CPR can have an impact on personal growth and development. It can also raise awareness and knowledge about CPR, cardiovascular diseases, and other emergencies. It takes only one person doing good to impact the general public health positively.
Challenges in CPR
CPR isn’t an overly complicated technique, but it takes practice to perform properly. An individual who never had proper CPR training could risk injuring themselves and the victim if CPR is not performed properly. However, the most important thing when giving CPR is the reaction time. It plays a huge role in keeping a person alive, as the effectiveness of CPR decreases over time.
There are stigmas and barriers that need to be overcome regarding CPR implementation. It’s a technique that not everyone can perform. It does require setting aside some time, money, and energy to invest in the CPR training sessions. Extensive CPR classes are more expensive, and not many choose them unless they are obliged based on their profession.
Finding a balance between the cost, benefits, and return on investment is crucial for overcoming the challenges of CPR.
How Much Does CPR Cost?
CPR training is priced differently depending on the institution, the types of classes, and the state where you are taking them. In Dallas, classes currently cost anywhere between 20-30$ for online classes and up to 150$ for comprehensive BLS classes.
What is the ROI of CPR?
The ROI of CPR can, of course, be seen financially. However, the best return on investment of CPR training is saving lives on its own. There is no better reward than the outcome of your CPR training paying off.
While in Dallas, the survival rates won’t be the same as in other places, as they usually vary in different locations. Access to good AED equipment and the quality of the CPR given can determine the outcome of an emergency situation. Quality CPR performed promptly will increase the likelihood of survival for any injury victim.
However, there are other ways to view the ROI of CPR.
Better Workplace Productivity
The more you help your employees and make them feel safe, the more productive they will be in return. Any kind of health training helps in maximizing ROI. CPR training, especially, leads to workplace security and a high ROI.
Lower Healthcare Costs
CPR can significantly reduce healthcare costs if performed in a timely manner.
Legal Compliance
Not only do some workplaces have necessary CPR regulations and requirements, but also providing the necessary CPR training promotes security and trust. By complying with these legal regulations, the company can avoid fines and other legal issues.
Strengthening Employee Trust
Employee trust is the most important thing in the workplace. By ensuring that everyone knows CPR, employees will feel safer and more comfortable. So, facilitating employee trust is definitely a huge ROI of CPR.
Community Safety
Learning CPR at the workplace makes you eligible to save lives both in and outside of work. Therefore, you aren’t only keeping your workplace safe, but you’re also keeping your community safe.
Economics of Saving Lives
Teaching your employees CPR means that the chance of survival at your workplace is higher. So, in case of an emergency, they can act before they call for help and make sure to keep the victim of injury alive until help comes. This, in turn, brings about fewer healthcare costs, higher morale, no work time lost, legal regulations, and a better reputation.
Fewer Healthcare Costs
Acting in a timely manner leads to fewer healthcare costs. If you start CPR immediately, the chances of preventing brain damage and injury are significantly higher. That means that the cost of the hospital bill will be significantly reduced.
High Morale
CPR training provides a feeling of safety and security at the workplace, leading to higher employee productivity and morale. A solid 68% of employees express that they would rather learn within the workplace.
No Work-Time Lost
Knowing CPR means being able to react immediately and properly. Effective reactions lead to higher survival rates. The faster the injured person recovers, the sooner they can return to work.
Legal Regulations
Certain working fields require legal governing regulations. First-aid requirements are mandatory at most workplaces. The OSHA regulations prevent safety hazards and keep employees safe. Following those regulations, however, helps companies avoid fines and legal issues.
Higher Reputation
When employers take care of their employees, the company’s reputation, trust, and loyalty increases. This is why a high percentage of employees are more willing to stay and work for a company longer if it offers continuous different ways of learning and development, including CPR.
Key Takeaways
Despite all the economic terms, the biggest ROI of CPR is saving lives. The more people in Dallas prioritize CPR awareness and education, the more of a positive impact it is going to have on the community.
Except for the individual return on investment of the employers, their employees and anyone else in the community also see a benefit to the CPR training courses. CPR techniques are crucial for the survival rates of hundreds of thousands of Americans. The ROI is beyond monetary value; it is an investment for the economics of saving lives.