Kennedy W F, Plath D A
University of North Carolina, Belk College of Business Administration, Charlotte.
Healthc Financ Manage. 1994 Mar;48(3):38-40, 42, 44 passim.
A dilemma often faced by healthcare financial managers is whether to describe a potential investment project to organizational decision-makers in terms of the projects' internal rates of return (IRR) or to use the net present value (NPV) method. The IRR represents an intuitively appealing method of measuring investment value, but a number of conceptual and methodological problems associated with IRR measurement would seem to argue the use of the NPV method. Unfortunately, while the NPV measure is theoretically valid, it lacks the intuitive appeal of the IRR in communicating the value of investment alternatives. This article details an alternative method of measuring return that incorporates all the intuitive appeal of the conventional IRR, but few of the shortcoming associated with that measure.
医疗保健财务经理经常面临的一个两难境地是，应以项目的内部收益率（IRR）还是使用净现值（NPV）方法向组织决策者描述潜在投资项目。内部收益率代表了一种直观且有吸引力的衡量投资价值的方法，但与内部收益率衡量相关的一些概念和方法问题似乎表明应使用净现值方法。不幸的是，虽然净现值衡量在理论上是有效的，但在传达投资替代方案的价值方面，它缺乏内部收益率的直观吸引力。本文详细介绍了一种衡量回报的替代方法，该方法兼具传统内部收益率的所有直观吸引力，但几乎没有与该衡量方法相关的缺点。
