Bais Medrash Toras Chesed New Health Care Economic Opportunity Paper

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Bais Medrash Toras Chesed

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Research an economic opportunity that might be available within your health care setting that will provide ethical and culturally equitable improvements to the quality of care. Then, write a 2–4-page proposal for an initiative to take advantage of that opportunity, supported with economic data and an analysis of the prospective benefits.

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Research an economic opportunity that might be available within your health care setting that will provide ethical and culturally equitable improvements to the quality of care. Then, write a 2–4-page proposal for an initiative to take advantage of that opportunity, supported with economic data and an analysis of the prospective benefits. Research an economic opportunity that might be available within your health care setting—at both micro (departmental, neighborhood) and macro (organizational, community) levels—that you believe will provide ethical and culturally equitable improvements to the quality of care. Then, propose an initiative to take advantage of that opportunity. Support your proposal with economic data (sector growth, supply versus demand, cost versus reimbursement, et cetera) and an analysis of the prospective benefits for your department and for the organization overall. Such economic opportunities might include offering a new service line, working to improve a service line already offered, retiring an outdated or unprofitable service line, or any other initiative you believe will be of benefit to your organization in the short and long term. One example is a recently launched partnership with a local bicycle sharing company. Your organization partners with them to host healthy community events that offer free screenings for early detection of various health issues. Free screenings help fulfill some of your organization's preventive and healthy lifestyle initiatives, while also potentially driving referrals to other services provided by your organization. Requirements The requirements for your proposal, outlined below, correspond to the scoring guide criteria, so be sure to address each main point. Read the performance-level descriptions for each criterion to see how your work will be assessed. In addition, be sure to note the requirements for document format, length, and supporting evidence. • • • Explain why your proposed initiative presents a viable and beneficial economic opportunity for your organization. o Describe your proposed service line or economic initiative. o Explain why your proposal presents an economic opportunity at the micro level and macro level. o Explain how your proposed initiative will provide ethical and culturally equitable improvements to the quality of care. Analyze the economic factors of supply and demand associated with your proposed initiative, within a context relevant to your organization or care setting. o What do economic and demographic data suggest is the supply and demand? o What additional information would improve your analysis? Explain how relevant economic and environmental data support your proposed initiative. o • How does the data illustrate a potential opportunity and the economic viability of your proposal? Write concisely and directly, using active voice. o • Proofread your proposal before you submit it to minimize errors that could distract readers and make it more difficult for them to focus on the substance of your proposal. Support main points, assertions, arguments, conclusions, or recommendations with relevant and credible evidence. Understanding supply and demand in health care can be crucial to effective cost management and fiscal responsibility. This author explains the concept well by the use of examples and strategies for success. • Indresano, R. (2016). How to rebalance the supply-demand scales in healthcare. Retrieved from https://www.beckershospitalreview.com/patient-engagement/how-to-rebalance-the-supplydemand-scales-in-healthcare.html The following article addresses the how and why behind the concept of spending efficiently in health care organizations. Examining the costs and benefits of economic opportunities is the key to success for leaders that know how to do more with less. • Doi, S., Ide, H., & Takeuchi, K., Fujita, S., & Takabayashi, K. (2017). Estimation and evaluation of future demand and supply of healthcare services based on a patient access area model. International Journal of Environmental Research and Public Health, 14(11), 1367–1381. The following article provides a good example of the impact that the current health care environment has had on the practice of nurse practitioners. Many of these restrictions are similar to other disciplines, while others are unique to health care providers. This is important from the perspective of both the care giver and patients. • Chattopadhyay, S., & Zangaro, G. (2019). The economic cost and impacts of scope of practice restrictions on nurse practitioners. Nursing Economics, 37(6), 273–283. The following article addresses the financial impact of health care and why health care executives and leaders play such a fiduciary role between the organization and environment. What is revealed is why the application of research and best practices becomes paramount for successful fiscal management for health care organization's viability and sustainability. • Lyford, S., & Lash, T. A. (2019). America’s healthcare cost crisis: As the costs of U.S. healthcare continue to escalate, three commonsense reforms could reverse this unsustainable trend. Generations, 7–12. Economic Initiatives The following articles address the critical importance of aligning the quality of patient care initiatives with cost-effectiveness. The creation of service lines and the improvement of current practices must be sustainable and realistic to meet the challenges of ongoing performance improvement from the perspective of productivity standards. • Bennett, L. E., Jewell, V. D., Scheirton, L., McCarthy, M., & Muir, B. C. (2019). Productivity standards and the impact on quality of care: A national survey of inpatient rehabilitation professionals. Open Journal of Occupational Therapy, 7(4), 1–11. • Lin, C., Romley, J. A., & Carlin, C. (2018). The relationship between the patient-centered medical homes, healthcare expenditures, and quality of care among children with special health care needs. Maternal & Child Health Journal, 22(12), 1751–1760. The following article addresses the provision of free health care services and the evaluation of the program's impacts. • Edoka, I., Ensor, T., McPake, B., Amara, R., Tseng, F.-M., & Edem-Hotah, J. (2016). Free health care for under-fives, expectant and recent mothers? Evaluating the impact of Sierra Leone's free health care initiative. Health Economics Review, 6(19), 1–15. Retrieved from https://www.ncbi.nlm.nih.gov/pmc/articles/PMC4877339/ The following interesting article provides the perspective of the cost evaluation process with use of a trial for a new initiative. It can be identified why a trial run can be benefit when exploring the opportunities for management of the costs from before and after the plan is implemented. • Panagioti, M., Reeves, D., Meacock, R., Parkinson, B., Lovell, K., Hann, M., . . . Bower, P. (2018). Is telephone health coaching a useful population health strategy for supporting older people with multimorbidity? An evaluation of reach, effectiveness and cost-effectiveness using a 'trial within a cohort'. BMC Medicine, 16(1), 1–15. The following article addresses the impact of an economic initiative on cost, utilization, and outcomes. • Rhodes, K. V., Basseyn, S., Gallop, R., Noll, E., Rothbard, A., & Crits-Christoph, P. (2016). Pennsylvania's medical home initiative: Reductions in healthcare utilization and cost among Medicaid patients with medical and psychiatric comorbidities. Journal of General Internal Medicine, 31(11), 1373–1381. Retrieved from https://www.ncbi.nlm.nih.gov/pmc/articles/PMC5071276/ Ethical and Cultural Issues The systemic review findings in the following article include evidence that interventions to improve cultural competency can improve patient or client health outcomes. • Truong, M., Paradies, Y., & Priest, N. (2014). Interventions to improve cultural competency in healthcare: A systematic review of reviews. BMC Health Services Research, 14, 99. Retrieved from https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3946184/ • Centers for Disease Control and Prevention. (n.d.). National Center for Health Statistics. Retrieved from http://www.cdc.gov/nchs/ • Centers for Medicare & Medicaid Services. (n.d.). Retrieved from http://cms.gov/ • • National Institutes of Health. (n.d.). Retrieved from http://www.nih.gov/ Proposing a New Initiative Scoring Guide CRITERIA NONPERFORMANCE BASIC PROFICIENT DISTINGUISHED Explain why a proposed initiative presents a viable and beneficial economic opportunity for an organization. Does not describe a proposed initiative as an economic opportunity for an organization. Describes a proposed initiative as an economic opportunity for an organization, without sufficient justification. Explains why a proposed initiative presents a viable and beneficial economic opportunity for an organization. Provides a cogent, convincing explanation of why a proposed initiative presents a viable and beneficial economic opportunity for an organization. Argues key points effectively, building a strong case in support of the initiative. Analyze the economic factors of supply and demand associated with a proposed initiative, within a context relevant to a particular organization or care setting. Does not analyze the economic factors of supply and demand associated with a proposed initiative. Analyzes the economic factors of supply and demand associated with a proposed initiative, based on incomplete or irrelevant data. Analyzes the economic factors of supply and demand associated with a proposed initiative, within a context relevant to a particular organization or care setting. Analyzes the economic factors of supply and demand associated with a proposed initiative, within a context relevant to a particular organization or care setting. Accurately interprets economic and demographic data and draws sound CRITERIA NONPERFORMANCE BASIC PROFICIENT DISTINGUISHED conclusions. Identifies missing information, unanswered questions, or areas of uncertainty. Explain how relevant economic and environmental data support a proposed initiative. Does not describe economic and environmental data. Describes economic and environmental data that provide little or no support a proposed initiative. Explains how relevant economic and environmental data support a proposed initiative. Explains how relevant economic and environmental data support a proposed initiative. Draws insightful conclusions from existing data that clearly illustrate the potential and viability of the initiative. Write concisely and directly using active voice. Does not write concisely and directly using active voice. Writes passively with a tendency toward wordiness. Writes concisely and directly using active voice. Writes concisely and directly. Conveys precise and unequivocal meaning through clear and consistent use of active voice. CRITERIA Support main points, assertions, arguments, conclusions, or recommendatio ns with relevant and credible evidence. NONPERFORMANCE Does not support main points, assertions, arguments, conclusions, or recommendatio ns with relevant and credible evidence. BASIC PROFICIENT DISTINGUISHED Sources lack relevance or credibility, or the evidence is not persuasive or explicitly supportive of main points, assertions, arguments, conclusions, or recommendation s. Supports main points, assertions, arguments, conclusions, or recommendatio ns with relevant and credible evidence. Supports main points, assertions, arguments, conclusions, or recommendatio ns with relevant, credible, and convincing evidence. Skillfully combines virtually errorfree source citations with a perceptive and coherent synthesis of the evidence. 1 Running head: INITIATIVE PROPOSAL Executive Brief: Proposal of New Economic Opportunity The primary objective of Whilborne Medical Center (WMC) has always been to deliver high-quality health care to the community. The medical center can take a step further in that direction by setting up a new urgent care center (UCC) within its premises. A UCC is a health care facility that provides immediate care, without a scheduled appointment, for injuries and illnesses that are not life-threatening and do not require admission to the emergency department (ED). The key characteristics of a UCC are reduced wait times, increased service hours, reduced costs, and quick service (Chang, Brundage, & Chokshi, 2015). WMC is located in an area that has around 3,000 locals whose urgent care needs may be met by the UCC. Additionally, WMC, being located near Maxima Industrial Park, receives a lot of cases of work-related injuries (e.g., minor burns, sprains, cuts, and abrasions) and other minor illnesses (e.g., fever, headache, ear infection, abdominal pain, and respiratory illnesses) that require immediate attention. Currently, such cases are handled by the medical center’s ED, which leads to overcrowding and reduced efficiency. Once the UCC is set up, such cases can be diverted to the UCC to ease the burden on the ED at the medical center. ©2018 Capella University. Copy and distribution of this document are prohibited. PROPOSAL OF NEW ECONOMIC OPPORTUNITY Outcomes of Starting an Urgent Care Center 2 WMC has always strived to focus on the six areas of health care quality—timeliness, safety, patient-centeredness, efficiency, equity, and effectiveness—stated by the Institute of Medicine (IOM). Setting up a UCC will help the medical center achieve its vision of improving community health and delivering superior health care, irrespective of patients’ cultural background, age, gender, and socioeconomic status (Agency for Healthcare Research and Quality, 2016). The new line of service will be convenient for patients with noncritical conditions that require immediate attention. They will not have to wait for several hours as they do at the medical center’s ED. They will be able to walk in without an appointment and avail after-hours health care services on all days of the week. Setting up a UCC will help the ED concentrate on critical, life-threatening medical cases; it will also improve the efficiency of the ED and the quality of care provided to patients (Qin, Prybutok, Prybutok, & Wang, 2015). Expenses on technology and infrastructure are comparatively low for setting up the UCC. Consequently, the cost of health care services provided at the UCC will be low in comparison to the cost of health care services at the ED of the medical center. Moreover, a UCC is an affordable means of availing health care services for noncritical ailments (Qin et al., 2015). This makes it an economically viable health care solution for the neighborhood. With its services, the UCC will generate additional revenue for the medical center. Although setting up a UCC has several positive outcomes, it has some negative outcomes, too. One of the drawbacks of getting treated at a UCC is that patients are likely to get care from different physicians every time they visit the UCC. This may result in the physicians not knowing their patients’ personal or family health history, and the patients may not receive the same quality of care they receive at their primary care physician’s office. In addition, although Copyright ©2018 Capella University. Copy and distribution of this document are prohibited. PROPOSAL OF NEW ECONOMIC OPPORTUNITY 3 wait times at UCCs are shorter than at EDs, patients could end up waiting longer than when they would see their primary care physician with an appointment on days that the UCCs have high footfall. Also, more staff may have to be hired at the UCC, which will entail additional costs for the medical center. Factors Influencing the Setting up of an Urgent Care Center A UCC is a volume-driven business that is dependent on many economic and environmental factors. Environmental data suggests that WMC is a reputed medical center in the area and there are few health clinics in the vicinity. The walk-in facility at the UCC and its proximity to Maxima Industrial Park will make it a preferred option for employees working at the industrial park. As the industrial park consists mainly of manufacturing units, there is a high possibility of work-related injuries. Therefore, the UCC can expect a high number of visits from these employees. Also, most employees at these companies work in shifts and sometimes on weekends. This is a great opportunity for the UCC as it plans to offer health care services even in the evenings and on weekends. The capital cost of the project is estimated to be $350,000. It will include the cost of construction, equipment, and furniture. There will be no land cost because the UCC will be built within WMC’s premises. One half of the required funds will be procured through a bank loan; the other half will be funded using the medical center’s reserves. It is assumed that an average of 357 patients will visit the UCC every week and the consultation fee for each patient will be around $156 (AMN Healthcare, 2015; Yakobi, 2017). Calculations suggest that the UCC will record a cash surplus in the first five years. This illustrates that starting a UCC will be an economically viable opportunity for the medical center. Analysis of Supply and Demand for the Urgent Care Center Aside from the 3,000 locals in the area who might benefit from the UCC at WMC, there is a large client base at the industrial park located near the center. Maxima Industrial Park Copyright ©2018 Capella University. Copy and distribution of this document are prohibited. PROPOSAL OF NEW ECONOMIC OPPORTUNITY 4 comprises 10 companies, each having an employee strength of 2,000–3,000 individuals. In all, about 30,000 employees work here. There are just two primary health clinics and a retail health clinic around the industrial park, and WMC is the only multispecialty medical center located within a 5-mile radius. Therefore, there are not enough facilities in the vicinity to cater to the medical needs of employees working in the industrial park, creating a supply–demand gap. Being the only multispecialty medical center near the industrial park, WMC receives a lot of cases pertaining to work-related injuries and minor illnesses that require immediate attention. This overloads the ED of the medical center with noncritical cases and hinders it from being able to focus on patients admitted for treatment of critical, life-threatening diseases. Establishing a UCC within WMC’s premises will contribute toward bridging the supply–demand gap without compromising on the quality of health care delivered. While analyzing the data pertaining to the supply and demand for the proposed UCC, areas of uncertainty have been identified. The successful implementation of this proposal would depend on receiving timely approval of the planned bank loan and approval from the board of directors of the medical center to allocate funds to support this proposal. Another area of uncertainty is the level of awareness of UCCs in the neighborhood. Therefore, there may be a need to create awareness of the functions and necessity of a UCC. Patients may not want to avail services at the UCC because of their lack of awareness, and this might negatively impact revenue estimates. Conclusion Setting up a UCC will reduce the burden on the ED at WMC, making it more efficient. Patients will receive accessible, high-quality, affordable care without a scheduled appointment, and they will benefit from the after-hours care. Also, the UCC will bring in additional revenue Copyright ©2018 Capella University. Copy and distribution of this document are prohibited. PROPOSAL OF NEW ECONOMIC OPPORTUNITY 5 for the medical center and help acquire new patients. Therefore, setting up a UCC within WMC’s premises will be a lucrative economic opportunity. References Agency for Healthcare Research and Quality. (2016). The six domains of health care quality. Retrieved from https://ahrq.gov/professionals/qualitypatientsafety/talkingquality/create/sixdomains.html AMN Healthcare. (2015). Convenient care: Growth and staffing trends in urgent care and retail medicine. Retrieved from https://amnhealthcare.com/uploadedFiles/MainSite/Content/Healthcare_Industry_Insights /Industry_Research/AMN%2015%20W001_Convenient%20Care%20Whitepaper(1).pdf Chang, J. E., Brundage, S. C., & Chokshi, D. A. (2015, July 23). Convenient ambulatory care — Promise, pitfalls, and policy. The New England Journal of Medicine, 373(4), 382–388. Retrieved from https://search-proquestcom.library.capella.edu/docview/1698429950/fulltextPDF/393FB954D5614B03PQ/1?ac countid=27965 Qin, H., Prybutok, G. L., Prybutok, V. R., & Wang, B. (2015). Quantitative comparisons of urgent care service providers. International Journal of Health Care Quality Assurance, 28(6), 574–594. Retrieved from https://searchproquestcom.library.capella.edu/docview/1694933787?pqorigsite=summon&http://library.capella.edu/login?url=accountid=27965 Yakobi, R. (2017). Impact of urgent care centers on emergency department visits. Health Care: Current Reviews, 5(3). http://dx.doi.org/10.4172/2375-4273.1000204 Copyright ©2018 Capella University. Copy and distribution of this document are prohibited.
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Explanation & Answer

Attached.

Health Care Economic Opportunity - Outline
Thesis Statement: The Radax Eye and Dental Services place a high demand for holistic health
care for its patients and the community at large.
I.

Introduction
A. Set up of the Radax Eye and Dental Services
B. Need for the Radax Eye and Dental Services

II. Impact of Adding the Radax Eye and Dental Services
A. Need for the Dental and Eye Services
B. Additional Revenue Obtained from the Eye and Dental Services
III. Factors Affecting the Setting Up of Radax
A. Number of Patients
B. Cost
IV. Demand and Supply of Eye and Dental Services
A. Importance of Oral Health
B. Statistics on Dental Health
V. Conclusion
A. Emphasis on the Importance of Radax Eye and Dental Services


Running head: HEALTH CARE ECONOMIC OPPORTUNITY

Proposal of New Health Care Economic Opportunity
Name
Institution

1

HEALTH CARE ECONOMIC OPPORTUNITY

2

Proposal of New Health Care Economic Opportunity
The University of Chicago Medical Center is a renowned medical center that offers
hospital services and serves an institution of learning whereby doctors pass through to establish
themselves as doctors or professionals in the medical field. The hospital boasts of having a
biomedical department, a children’s unit, and a general hospital. A new eye and dental wing will
be a bonus to the hospital and, at the same time, cater to a vast majority of individuals in the
community seeking to get dental and eye services. Chicago is among the leading metropolitan
areas in the United States, ranking in as the third-largest having an estimated revenue of $670
billion in 2017 (National Center for Health Statistics,2019). The area is highly diversified ...


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