Analysis of Hospital Capital Decision Alternatives: A Priority Assignment Model

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Abstract
In the not-for-profit sector in general and in the hospital industry in particular, the systematic analysis of capital decision alternatives is often not attempted because those decision making criteria which do not have objective measures, but for which judgments must be rendered, are not explicitly integrated into the analysis of decision alternatives. Rather, judgments on these criteria enter the decision making process in some vague manner after an attempt has been made to develop a quantitative profile for each of the decision alternatives. The purpose of this paper is to examine a priority assignment model which (1) uses judgmental transitivity as a measure of the quality of the judgments rendered, and (2) provides for the mathematical integration of the quality adjusted judgmental information into the development of priority weights. Various operational aspects of the model are examined and illustrated and an example of its application provided.

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