Monday, September 17, 2007

Money, Money, Money

I won't try and sing the O'Jays song, because dogs and cats might howl in pain, not to mention any humans within earshot. But that song has been going through my head while I have been working on the library budget for 2008.
This is the time where administration starts to "realize" how much their library is costing. Of course they think of it as cost and it freaks them out. The journal budget is just one area that seems to consistently confound them. It seems that everybody from the CEO to the unit secretary believes journals are free online, or at least cheaper than the print. If I had a nickel for every time I explained the "wonderful" pricing intricacies of journals, I would be retired by now at 34. After all why would any normal person think that The Lancet which costs $850 in print would cost over $2000 for the online version. Of course the library would still have to pay both for the print ($850) plus the online ($2000) because they are usually penalized and end up paying more if they try and get an online only subscription.
This is not normal thinking and pricing for regular people. We have become accustomed to getting things for cheaper online. Airline tickets are cheaper if bought online. Amazon.com allows us to buy books and other goods for a better price than many brick and mortar stores. Ebay and craigslist allow us to buy used or discounted new things for less money. Medical journals may be a far cry from ebay auctions, but online discount buying has helped shape our mentality. No wonder many people including hospital administrators believe journals should be cheaper online than in print. After all, they can get most major newspapers for free online, why should medical journals be much different? They just are and their prices increase 10% each year.
That is where education and communication come into play. As I mentioned if I had a nickel for the amount of times I explained why online journals cost extra or a lot more, I would be retired. Well that is because I tell everybody who will listen about online journals and their quirky pricing issues. I don't want anybody to think that my journal budget is excessive because everything is on the Internet now...for free.
Journals are just one example. Everything costs money and it is part of our responsibility as hospital librarians to try and get our administration to no longer think of the library as expense, but an asset. This is tricky because we don't bring in money in ways that are easy to see. Not only do we need to educate our users and administrators on our expenses but we have to show them that we are a value added asset through the services we provide. Speak the same language as the administration and show them the return on investment. Sadly, I am not very good at this. I am business 101 challenged. My brother who has his MBA from Kellogg and works at a competitive venture capital firm just shakes his head and rolls his eyes at my ignorance. I try, but I could do better.
I feel my library is well funded for a community hospital, but I would always like more money for resources, staffing, etc. Who wouldn't? So, as I prepare my 2008 budget and I try explain and justify my future expenses, I wonder if I spoke the same language of money as administration whether I would do better.

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The Krafty Librarian has been a medical librarian since 1998. She is currently the medical librarian for a hospital system in Ohio. You can email her at: