In-House Cost Comparison
Hiring CortiCare is less expensive than developing your own in-house cEEG monitoring program.
Calculate your own costs…
CortiCare has listed some simple costs parameters to help you calculate your own gross expenses when considering whether to develop your own in-house monitoring program, or hire CortiCare. These numbers exclude any incoming revenue that results from reimbursement or additional expenses required for new EEG equipment or supplies.
Step 1 - Calculate how many EEG Techs are needed. to operate a full-time continuous EEG monitoring program?
To operate a full-time continuous EEG monitoring program (24/7) 365 days, you must have at least 5 full time equivalents (FTEs). This number leaves no room for schedule conflicts, training, PTO or sick leave… so 6 FTE are more realistic. This number is low compared to other institutions staffing full time cEEG programs (see references below). Don’t need a full-program? Use this number: roughly 1 tech for every 32 hours of monitoring per week.
Step 2 - Calculate Salary and Benefits
Assuming you can find an EEG tech to cover the night shifts and weekends with the national shortage of qualified techs…. salaries can vary widely depending on competition, experience and your geographic location. Assume the national average for an annual salary of $46K (see reference below), then add roughly 8% for overtime and bonuses = $50K/year.
Step 3 - Calculate the Tech Overhead and Benefits
Benefits can range from 25% to 35% of the base salary. In speaking with multiple administrators, overhead charges can range anywhere from 10% to 20% of the base salary.
Step 4 - Calculate Technician Recruiting and Training Costs?
Recruiting costs can also vary depending if you use internal or external hiring services. Typically fees range from 15% to 30% of the first year’s salary.
After all this you still need to train your new hire on hospital policies, SOPs, HITECH, Hospital IQR, TQM, safety and so on. Ok...so you're ready to start monitoring now. Wait! Don’t forget about the on-gong training and updating - CME or ACE (ASET Continuing Education)…and that’s another day off! Add another 10% (at least) for training costs.
Step 5 - Do the Math
Base Salary per Technologist ____________
Plus:
Benefits 30%
Overhead 15%
Recruiting 20%
Training 10%
Annual cost per Technologist ____________
Your program cost will obviously depend on the cost for 1 tech x the number of techs needed. Using the example above – a full time program for 24/7 365 days a year monitoring using 6 techs would have a first year cost $525,000 annually for labor not including the required IT FTE and non-registered EEG monitoring labor (set-up tech).
References____________________________________________
Average Salary:
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CortiCare internal survey of our own EEG monitoring technologists
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Hiring nationwide salary and per diem FTEs.
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Orange Coast College EEG Program Faculty discussion
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Dr. Marc Nuwer, UCLA Dept. Head, Neurophysiology
cEEG Staffing:
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Dr. Suzette LaRoche, Emory University, "Handbook EEG ICU Monitoring," Chapter 4, page 31 - "Staffing and ICU EEG Monitoring Unit," by Leisha Osburn.
Recruiting costs:
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Cost can vary depending on the use of internal or external hiring services.
Typically fees range from 15% to 30% of the first year’s salary.