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Overview

· This assessment asks you to create a detailed implementation plan for an economic initiative.

As a master’s-level health care practitioner you may be expected to create budget and implementation plans to ensure that economic opportunities for the organization are rolled out successfully and can be sustained over multiple years. Additionally, it is important to be able to envision how an economic initiative could be used for different contexts and purposes to keep the investment a viable and positive asset to your organization or care setting.

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: 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.

1. Create a budget for relevant expected costs and earnings or benefits over the first five years of a proposed economic initiative.

1. Analyze how a proposed initiative, once implemented, may impact aspects of a care setting and ways in which negative impacts could be mitigated.

. 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.

2. Propose a plan to roll out an economic initiative that will enable a care setting to successfully implement it in an ethical and culturally equitable way that will ensure the initiative achieves quality or service improvements.

. Competency 3: Justify the qualitative and quantitative information used to guide economic decision making to stakeholders and colleagues.

3. Justify the relevance and value of the quantitative and qualitative economic, financial, and scholarly evidence used to support recommendations throughout a plan.

. Competency 4: Develop ethical and culturally equitable economic strategies to address dynamic environmental forces and ensure the future security of an organization’s resources and its ability to provide quality care.

4. Explain strategies that have been integrated into a proposed economic initiative that will ensure it can remain a viable asset to a care setting in the face of dynamic environmental forces.

. 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.

5. Communicate a business and implementation plan in a logically structured and concise manner, writing content clearly with correct use of grammar, punctuation, and spelling.

5. Effectively support a plan and recommendations with relevant economic data and scholarly sources, correctly formatting citations and references using current APA style.

·

Context

To support your work on this assessment, take time to read the contents of Assessment 3 Context [DOC]. (attached)

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.

. Do you think that cost shifting is a fair practice, or that it should it be legally banned?

. Why would a change in a hospital’s variable costs change the hospital’s profit-maximizing price?

. How do ethics and economic decision making come together when addressing health care issues?

. What is the highest-impact facet of health care economics that relates to your current or desired leadership role? What action steps and resources might you use to assure objective and ethical economic decision making in that role?

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