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INSTRUCTIONS FOR THE ERC TOOL Created BY JLW Medical Management Consulting, LLC
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Column A: CatergoryCatergories we are calculating You can add/remove catergories that are specific to your organization these are the catergories we recommend calculating.
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Column B: Definition This section outlines the corresponding letters and what each represents for accurate tracking.
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Column C: (Input) Hours
Hours Input: Simply enter the number of hours for each applicable category. Retention: For retention, enter the number of employees you need to replace.Column C and Column D already contain built-in formulas. Simply follow the instructions provided in Column B on the Instruction page. If you accidentally alter the tool, don’t worry — you can easily reinsert the formula. To calculate the total of everything in Column E and display the result in Column F, Cell 2, enter: =SUM(E:E)
If you prefer to calculate only a specific range, you can use: =SUM(E2:E100) Just adjust “E100” to reflect the last row you'd like included — for example, E50, E5, or E61 (for all my non-Excel-proficient users, this simply tells Excel where to stop the calculation).
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Coloumn D: Rate ($)
Please change the dollar amount that best reflects the total cost to replace a staff member in your setting. If 7,000 is not the cost please change it. Note: If $150 is not your rate, feel free to replace it with the rate that applies to your organization.
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Column E: Cost ($)This section tallies your total cost.
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Column F: Total ($)The grand total cost to your organization will appear in Row 2.
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