Description
For this assignment, you are tasked with writing a reflection paper using at least two of the course concepts listed below:
forecasting,
total quality management (TQM),
queuing theory,
- databases/metrics,
program evaluation review technique (PERT),
- time value of money (TVM),
inventory management, and
- flowcharting.
Explanation & Answer
Attached.
Running Head: HEALTHCARE OPTIONS
1
Healthcare Options
Name
Institution Affiliation
Date
2
HEALTHCARE OPTIONS
Impact of Forecasting and Total Quality Management on Healthcare and Strategic
Planning
Forecasting
Getting the right information is very crucial in the provision of proper care, services, and
products, especially when it regards healthcare. Forecasting is an element that is critical in the
process of planning and implementation as it helps in the prediction of events in the future based
on knowledge gained via a systemic process or intuition (Soyiri & Reidpath, 2013). Healthcare
forecasting needs data that is reliable, information, and tools that are appropriate for the
prediction of health situations or conditions. The leader should, therefore, choose the approach
that will give them the best information and the guidance that is right towards the successful
implementation of that information.
Forecasting in healthcare is very significant, mainly because the field of healthcare is an
ever-dynamic entity and transforms every day, as a result of technology. In strategic planning,
forecasting helps in predicting health events in the future or situations like demands for
healthcar...