Honors Students Perform Economic Impact Study for Local Nonprofit

Posted on August 03, 2016  in  [ GCU Experience ]

In spring 2015, Grand Canyon University Honors College business students involved with Colangelo Scholars joined Elissa Torres, PhD, in developing an economic impact study in association with a nonprofit healthcare corporation. This was a golden research opportunity not commonly offered to college professors, let alone college students.

Dr. Torres explained, “The focus of the economic impact study was to examine the financial and social impacts of timely resuscitation in senior independent living facilities in the Phoenix metropolitan area.”

Colangelo Scholars Josh McGuire, Cinthia Monge, Chelsea Evans and Kevin McCoy analyzed the financial impacts of senior facility staff members who do not provide CPR due to liability concerns such as healthcare costs, out-of-pocket expenses for family members and long-term costs impacted by the state and federal government.

Socially, the group found that individuals who did not receive immediate CPR suffered neurological damage, which led to long-term therapy, medical attention and heavy strain on families.

With plenty of experience with healthcare management, Dr. Torres stated, “The greatest benefit of the study was the process and really understanding the whole picture of the impacts. We did not only look at the traditional economic impact study; we looked at the financial impacts and social impacts. I was able to dive into this data and walk the students through the impacts, how to look at data and how to retrieve data.

“Although their academic courses may have them look at specific areas and develop good essays, this was a real-life case study with real-life business and social issues that allowed them to present to the board members and Phoenix firefighters, and develop their professional experience.”

Because of the economic impact study performed by the honors students and Dr. Torres, the nonprofit was able to obtain an additional $600,000 in donations to further develop their cause in the state of Arizona.

So, what is next? Dr. Torres stated that the nonprofit wishes to advance their research, and they are excited to reach out to honors students once they are set to go. “This is just the first of many projects!” she said.

The Honors College offers an academically enriching opportunity to passionate and motivated GCU students. Learn more about the campus experience at GCU by visiting our website or contacting us today.

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