Economic initiative in New Jersey
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opportunities might include offering a new service line, working to improve a service line already offered, retiring an outdated or unprofitable service line, or any other initiative you believe will be of benefit to your organization in the short and long term.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.
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 forma, length, and supporting evidence.
Explain why your proposed initiative presents a viable and beneficial economic opportunity for your organization.
Describe your proposed service line or economic initiative.
Explain why your proposal presents an economic opportunity at the micro level and macro level.
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.
What do economic and demographic data suggest is the supply and demand?
What additional information would improve your analysis?
Explain how relevant economic and environmental data support your proposed initiative.
How does the data illustrate a potential opportunity and the economic viability of your proposal?
Write concisely and directly, using active voice.
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.
Competencies Measured
By successfully completing this assessment, you will demonstrate your proficiency in the following course competencies and assessment scoring guide 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 economic factors of supply and demand associated with a proposed initiative, within a context relevant to a particular organization or 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.
Explain why a proposed initiative presents a viable and beneficial economic opportunity for an organization.
Competency 3: Justify the qualitative and quantitative information used to guide economic decision making to stakeholders and colleagues.
Explain how relevant economic and environmental data support a proposed initiative.
Competency 5: Produce clear, coherent, and professional written work, in accordance with Capella writing standards.
Write concisely and directly using active voice.
Support main points, assertions, arguments, conclusions, or recommendations with relevant and credible evidence.
