Executive Brief: Proposal of New Economic Opportunity

Executive Brief: Proposal of New Economic Opportunity

Proposal-Assessment 1 Detailed Instructions are uploaded along with a detailed example and template. PLEASE follow every single detailed instruction and bullet point accordingly and please make sure that you review the scoring guide/competencies prior to returning to me. Also please make sure that ALL editing is thorough! Thank You!

Economic Decision Making in Health Care

Assessment 1

Executive Brief: Proposal of New Economic Opportunity

OVERVIEW

Propose an economic initiative that presents an opportunity for improved care quality.

Master’s-level health care practitioners are charged with the responsibility of constantly scanning the external environment for shifts in supply of and demand for services. Concurrently, leaders must examine strategic fit with their organization’s directional strategy and determine if adjustments need to be made for current service offerings, updates in equipment, changes in staffing models, and a variety of other decisions. Each decision that is proposed must be evaluated in terms of the health care setting as a system, alignment with the mission and strategy, available internal resources, potential contract and payer source implications, and the short- and long-term economic effects at both the micro and macro levels.

Note: Complete the assessments in this course in the order in which they are presented.

By successfully completing this assessment, you will demonstrate your proficiency in the following course competencies and assessment criteria:

• Competency 1: Analyze the effects of financial and economic factors (such as cost-benefit, supply and demand, return on investment, and risks) in a health care system on patient care, services offered, and organizational structures and operation.
  • Analyze the supply and demand for a proposed economic initiative within contexts relevant to a care setting.
• Competency 2: Develop ethical and culturally equitable solutions to economic problems within a health care organization in an effort to improve the quality of care and services offered.
  • Propose an economic initiative that presents an opportunity for a care setting at both the micro and macro levels, and that will provide ethical and culturally equitable improvements to the quality of care.
• Competency 3: Justify the qualitative and quantitative information used to guide economic decision making to stakeholders and colleagues.
  • Explain relevant economic and environmental data that support a proposal and analysis.
• Competency 5: Apply various communication methods in order to clearly, effectively, and efficiently relate information to stakeholders and colleagues related to economic data, findings, and strategies.
  • Communicate an economic proposal in a logically structured and concise manner, writing content clearly with correct use of grammar, punctuation, and spelling.
  • Effectively support a proposal with relevant economic data and scholarly sources, correctly formatting citations and references using current APA style.

Assessment Instructions:

In this assessment, you will propose an economic initiative that presents an opportunity for improved care quality.

Scenario

As an emerging health care leader, the senior management has requested that you independently research and explore one of the economic opportunities that may be available in your care setting. This may be offering a new service line, working to improve a service line already offered, retiring an outdated or unprofitable service line, or any other economic initiative that you believe will be of benefit to your care setting in the short and long term. One example of this is a recently launched partnership with a local bicycle sharing company. Your care setting partners with them to host healthy community events that offer free screenings for early detection of various health issues. This helps fulfill some of your care setting’s preventive and healthy lifestyle initiatives, while also potentially driving referrals to other services provided by your care setting. You have been asked to submit your proposal in the form of a 2–4-page executive summary that includes your proposed economic initiative, supporting economic data, and an analysis of the proposal’s benefits for your department and for the care setting overall.

Directions

You have been asked to ensure that your report addresses the following. Note: The bullet points below correspond to grading criteria in the scoring guide. Be sure your work is, at minimum, addressing each of the bullets below. You may also want to read the scoring guide and the Guiding Questions: Executive Brief: Proposal of New Economic Opportunity document, linked in the Resources, to better understand the performance levels that relate to each grading criterion:

• Propose an economic initiative that presents an opportunity for your care setting at both the micro (departmental, neighborhood) and macro (organizational, community) levels that you believe will provide ethical and culturally equitable improvements to the quality of care.
• Analyze the supply and demand for your proposed economic initiative within contexts relevant to your care setting.
• Explain relevant economic and environmental data that support your proposal and analysis.
• Communicate your economic proposal in a logically structured and concise manner, writing content clearly with correct use of grammar, punctuation, and spelling.
• Effectively support your proposal with relevant economic data and scholarly sources, correctly formatting citations and references using current APA style.

Example Assessment: You may use the assessment example, linked in the Assessment Example section of the Resources, to give you an idea of what a Proficient or higher rating on the scoring guide would look like.

Additional Requirements

Your assessment should meet the following requirements:

• Length: 2–4 double-spaced, typed pages. Your proposal should be succinct yet substantive.
• APA format: Resources and citations are formatted according to current APA style.
• Resources: Cite 3–5 authoritative and scholarly resources. Be sure to include specific economic data and support as part of your cited resources.

Questions to Consider:

As you prepare to complete this assessment, you may want to think about other related issues to deepen your understanding or broaden your viewpoint. You are encouraged to consider the questions below and discuss them with a fellow learner, a work associate, an interested friend, or a member of your professional community. Note that these questions are for your own development and exploration and do not need to be completed or submitted as part of your assessment.

• What factors determine the price and quantity of health care? What factors determine the demand for health care services?
• What suggestions do you have for improving the economic situation of your current health care setting? How might strategies or priorities need to shift to keep up with the changing health care economic environment?
• How do the Centers for Medicare & Medicaid Services (CMS) regulations impact documentation, billing, and reimbursement?

SAMPLE ANSWER

Executive Brief: Proposal of New Economic Opportunity

The reduced concerns about sterilization and disinfection processes in healthcare setting has led to increased nosocomial infections. Usually, the contagions occur after a victim has been admitted to hospital or a few hours after discharge, and about a month in case of an operation.  The increased reported cases of nosocomial infections ascertain the high cases of morbidity and mortality as well as financial strain on both patients and hospitals (Revelas, 2012). Thus, there is an urgent need for system change that will ensure that safety of patients in regards to the expected outcomes while under care of medical practitioners is improved. A regulatory approach to nursing practices within healthcare facilities can help in reducing or eliminating risks that patients are susceptible. Succinctly defined and formulated supervisory measures that can guarantee competent undertakings in intensive and special care units to minimize prevalence of nosocomial diseases (Hartmann, Arefian, Vogel, & Kwetkat, 2009). This article outlines a brief account of supervisory approach as an economic way of system change that can help to improve patient outcome by mitigating the challenges of healthcare-acquired infections.

Executive Brief: Proposal of New Economic Opportunity

The prevalence of nosocomial infections affects one out of ten patients that visit a healthcare facility (Stone, 2011). This signifies a lack of a sustainable culture that guarantees competence and adequate care when handling sensitive aspects such as those touching on life. Nosocomial diseases and infections affect both adults and children. Both genders have an equal chance of being infected.  Pediatric patients are also prone to these infections.  Children are mostly susceptible to bloodstream infections (Reveals, 2012). The reason for vulnerability is that children body system is not highly developed to fight contagions without external boost to immune system. Pneumonia and urinary tract infections are prevalent among adults. Methods and medical procedures used in the treatment of adult urinary complications require special attention and hygiene. Pediatric patients such as infants and youngsters in PICU or NICU are also vulnerable to healthcare-acquired infections. It is estimated that about two million individuals in a year are affected by nosocomial diseases in United States (Scott, 2008). Over 90,000 of those infected ends up dying because of extremity of complications.  The annual increase rate of infection in U.S. is about 33% (Scott, 2008).

ORDER A PLAGIARISM FREE PAPER HERE

The financial implications of diseases on the healthcare sector is worth noting. About $28 billion to $40 billion direct costs are recorded in hospitals every year (Scott, 2008). Most healthcare facilities are affected by nosocomial hospital infections that lower quality of patient outcomes as well as compromising the patient’s safety.  Treatment burdens associated with these diseases are costly. Therefore, there is need for an urgent change that will ensure that shortcomings are mitigated through nursing supervision mechanisms. It is estimated that 70% of bacteria that cause infections have mutated to resistant levels (Hartmann et al., 2009).  The increased expense for managing medical facilities and the high cost of healthcare services require a systematic change that is economical but also effective.

It is essential to note that healthcare-acquired infections emanate from lack or inadequate supportive culture within a hospital setup that is also encouraged by some other factors.  Diseases affect the nature of patients’ outcomes by affecting their quality of care while under medication.  Hospitals usually house many patients whose conditions are already stale (Nursing Times, 2010).  The numbers of patients who occasionally visit health centers seek medical attention because of their diverse ailments.  High number of patients leads to congestion in hospitals that leads to straining the available resources. Each sick person requires individual focus, and there exist chances of negligence from health practitioners because of mounting pressure due to high number of patients.  The nurse to patient ration is a critical problem in healthcare institutions. Currently, the U.S. is facing nurse shortage and the problem seems to be increasing. Burnout experiences among healthcare professionals can hinder their competence and lead to medical errors (Nursing Times, 2010).  Many procedures can be undertaken when conducting diagnosis and treatment tasks. Some processes are beyond standard body protection mechanisms (Schumacher et al., 2013). When doctors move from one individual to another, chances of pathogenic transmission are high if inadequate sterilization and disinfection methods are used during the treatment process. One can argue that nursing specialization could assist in reducing patient to patient transmission. However, it is worth noting that nurses are bound to esteem life and their actions are derived from the need to save as many lives as possible with their acquired skills and competence.

Executive Brief: Proposal of New Economic Opportunity

The prevalence of risky conditions that can lead to infections in hospitals can be controlled by setting up supervisory standards and quality measures that will encourage patients’ safety. Setting up strategies that will ensure that medical processes are supervised will guarantee safety if amalgamated with adequate facilities such as modern equipment and adequate human resources (Schumacher, Allignol, Beyersmann, Binder, & Wolkewitz, 2013).  The notion of supervision has not been fully incorporated into medical practice owing to costs and complexity of the processes. However, the involvement of health administrators and managers in nursing activities processes is associated with improved patient safety. Worth noting is that sectors of economy such as corporate industry have realized how supervision is attached to potential of profit margin increase. In nursing, there are no precise mechanisms for engagement and sharing of challenges practitioners face in working environment. Therefore, high chances of cumulative burnouts and incompetence that could compromise in-hospital quality of patient outcomes and safety exist (Nursing Times, 2010). Such forums can assist in providing space and time to consider avenues for improving quality of service and safety while taking care of patients to reduce rates of nosocomial infections. Supervisory processes meant to eradicate hospital-acquired diseases require a procedural process. Appropriate supervisory system change is, therefore, essential to assist in reducing the risk that patients are exposed to from nursing activities and lower levels of nurse-sensitive consequences among the patients (Stone, 2011).  The quality of healthcare provided in hospitals an important issue not only to the patients but also to the health physicians as demonstrated in their oath of service to protect life. Supplementary strategies stemming from external environment can improve commitment and competence of nurses and eliminate nosocomial contagions.

In summary, it is indispensable to recognize how healthcare-acquired infections originate from ordinary culture within a healthcare facility setup that is fortified by many factors.  Infections affect nature of patients’ outcomes by distressing eminence of care they are permitted to receive within the hospital premises. The method is a necessary progressive tool that is engrossed on conveyance of quality nursing care to alleviate pervasiveness of nosocomial contagions. For hospital management to control effects originating from homeopathic activities carried out by nurses and clinicians, it is essential for administrators to deliberate on supervision models that will assist in mitigating any shortcoming. Thus, there is an urgent need for system change that will ensure that safety of patients with regards to the expected outcomes while under care of medical practitioners is improved.

References

Hartmann, M., Arefian, H., Vogel, M., & Kwetkat, A. (2009). An economic evaluation of

interventions for the prevention of hospital-acquired infections: A systematic review. PLoS One, 11(1): e0146381. doi: 10.1371/journal.pone.0146381.

Nursing Times. (2009). An integrated approach to introducing and maintaining supervision:

4S model. Retrieved from http://www.nusringtimes.net/nursing-practice-clinical-research/acute-care/an-integrated-approach-to-introducing-and-maintaning-supervision–4s-model/5000899.article

Nursing Times. (2010). Clinical supervision using 4S model 1: Considering the structure and

setting it up. Retrieved from http://www.nusingtimes,net/clinical-supervision-using–4s-model-1-condiering–structure-and-setting-it-up/5013987.fullarticle

Reveals, A. (2012). Healthcare-associated infections: a public health problem. Niger Med J.

53(2):59-64. doi: 10.4103/0300-1652.103543.

Schumacher, M., Allignol, A., Beyersmann, J., Binder, N., &Wolkewitz, M. (2013). Hospital-

acquired infections: Appropriate statistical treatment is urgently needed.  International Journal of Epidemiology, 42(5), 1502 – 1508. doi: 10/1093/ije/dyt111

Scott, R. D. (2008). Direct medical costs of healthcare-associated infections in US hospitals

and the benefits of prevention. CDC. Retrieved from http://www.cdc.gov/ncidod/dhqp/pdf/Scott_CostPaper.pdf

Stone, P. W. (2011). Economic Burden of healthcare-associated infections: An American

Perspective. Expert Rev Pharmacoecon Outcomes Res. 9(5): 417–422.

doi: 10.1586/erp.09.53

.

Needs help with similar assignment?

We are available 24x7 to deliver the best services and assignment ready within 3-4 hours? Order a custom-written, plagiarism-free paper

Get Answer Over WhatsApp Order Paper Now