Retail Value Calculator Developed by National Network of Libraries of Medicine

Thank you to my SLA colleagues for bringing this tool to my attention.

The National Network of Libraries of Medicine has developed a tool to calculate the value of a medical library to it’s institution. The calculator uses a “replacement value” methodology, where the retail cost to replace the librarian and the materials in your library, including print and electronic journals and monographs, reference services, instruction, etc. You can also define your own service or resource to calculate the value.

Perhaps most importantly, the NNLM is asking medical libraries to share their value results in a database, to demonstrate the combined value of all health sciences libraries, to support advocacy efforts on behalf of health sciences libraries.